A press release dated January 21, 2019, in London reveals that Coinify has activated Bitcoin SV (BSV). This means that online merchants can now start accepting BSV in exchange for goods and services.
Also known as Bitcoin Santoshi Version, BSV is the only Digital Token that operates on the original protocols as envisioned by Satoshi Nakamoto in his famous whitepaper that introduced the concept of Bitcoin to the world.
In addition to supporting BSV-based online trading, the new service extension means that merchants and other users will also have the option of buying and selling BSV as need be. These transaction options have a security and privacy guarantee from Coinify.
Bitcoin SV is one of the newest Cryptocurrencies having been created in the November 24th, 2018 hard fork when Bitcoin Cash was split to Bitcoin Cash ABC and Bitcoin Cash SV. BSV is the native Token of the latter Blockchain platform.
On the other hand, the native Token for Bitcoin cash ABC retained the BCH tag and remains to be among the largest Cryptocurrencies by market capitalization at over $2,166,262,944 according to Coinmarketcap data. Additionally, BCH Token is valued at $123.24.
Meanwhile, BSV is the tenth largest Cryptocurrency with a market cap of $1,315,283,179 and a Coin value of $74.83. Further, there are over 17,577,461 BSV in circulation out of the total 21 million Tokens in existence.
The advantage of using BSV is that it enables users to transact in huge volumes as the Crypto has scalable properties. Hence, it is a perfect Digital Asset for virtual currency-based transactions.
Coinify is a premier virtual currency payment provider whose mission is to ensure that cutting edge Cryptocurrencies are adopted at a larger scale. To achieve this, the platform ensures that it facilitates liquidity options such as the conversion of fiat to Crypto, Crypto to merchandise services, etc. The platform targets merchants who accept Crypto payments in online and retail stores as it provides compliant Digital Currency products suited for business needs.
In this instance, the role of Coinify is to ensure that its users benefit from the many advantages that BSV proffers such as scalability, speed, efficiency, and ease of mining in a real-life environment. Thus, the cooperation of BSV and Coinify serves to create a global economy that is based on Cryptocurrencies.
The Support Will Enable BSV To Grow
According to the founding chief of the bCommerce Association- Jimmy Nguyen, Coinify’s activation of BSV support in its portfolio will be good for both Bitcoin Cash SV and Coinify. This is due to the fact that users of the platform will be able to benefit from the state-of-the-art features of Coinify and the many benefits of BSV.
On Coinify’s part, co-founder and CEO Mark Højgaard believes that this is an important step towards introducing Cryptocurrencies to the mainstream levels through merchant adoption. He adds that the addition of BSV will ensure that merchants and their clients get a “comprehensive range of options” that is better than what the dominant technology offers.