Crypto industry leaders turn to FIO as they look towards the future.

Crypto industry leaders turn to FIO as they look towards the future.

Cryptocurrency has long been heralded as a technology that can change the world. But the fact is that it is largely only understood or trusted by those who understand the technology. This is because cryptocurrency is still pretty difficult to use. Sending funds to a seemingly random and unreadable hash of characters and numbers is something that turns off the average person.

Like the Internet before the World Wide Web, cryptocurrency needs a layer of technology that bridges the technological complexity with a more friendly user experience. The experience of dealing with even one cryptocurrency is not very satisfying for the average user. Combine this with all the exchanges and different tokens (along with their different address) that users must interact with and it can become a bewildering experience. FIO offers a solution to all of this by abstracting this complexity into a layer that simplifies and integrates much of the cryptocurrency ecosystem to give a cleaner and friendlier presentation to the end user.

What is FIO?

The FIO (Foundation for Interwallet Operability) Protocol is a decentralized service layer designed to improve usability across the entire cryptocurrency landscape. It is an industry standard that will simplify the interaction between every blockchain, token and coin. The protocol will be ultimately guided by the Foundation of Interwallet Operability (FIO), a consortium of wallets, exchanges and crypto payment processors.

FIO

How Does FIO Make Crypto Easier and Why is it Important?

The FIO protocol provides an address that works with every token and coin automatically. All the different addresses that must be used for each coin or token are no longer necessary to know about or even see. These addresses can be human-readable as opposed to the cryptic hashes that are used on the blockchain. Along with the ability to send fund requests to other parties, you can also attach metadata to any transaction. This removes the sometimes confusing task for figuring out what was behind a cryptocurrency transaction. This information can be encrypted to ensure total privacy.

Though FIO is still in the early stages, there are many other great features planned. These efforts and more are publicly viewable on this handy site, fio.tools. They are laid out in FIO Improvement Proposals (FIPs).

All of these features are important because making the use of cryptocurrency easier will make it more attractive to use. Being easier to use means that cryptocurrency’s advantages will shine that much brighter and increase its adoption. Abstracting public addresses and private keys will go a long way toward making the use of cryptocurrency so easy that even Granny can use it.

Increased adoption is something that all who are invested in cryptocurrency are eager to promote. That’s why Binance with its venture capital arm, Binance Labs has participated to help fund the development of FIO.

Binance Labs Led a Series A Funding Round Which Raised $5.7 Million for FIO

Dapix raised $5.7 million to fund the development of FIO, with Binance Labs leading the way. Other investors included Access Venture Partners and Dundee Venture Capital. This fundraising round followed a seed round in 2018 which raised $2.3 million.

FIO Token Now Listed on BitMax and Binance

On July 9, 2020, BitMax.io announced the listing of FIO Protocol on its platform. This was the first platform to list the token. On July 31, 2020, Binance listed the FIO Protocol in the form of the trading pairs FIO/BNB, FIO/BTC and FIO/BUSD.

A look to the future

The average person is no more comfortable using cryptocurrency in its present state than your grandpa is navigating a Linux command line. In order to get adoption for cryptocurrency as a whole, an easier and friendlier outward presentation must be made to the user. FIO offers a tremendous vision for making this happen. It is not only a vision but a project well under development to make that vision a reality. With funding from cryptocurrency leaders like Binance Labs and with a growing number of cryptocurrency exchanges on board, the project has the initial funding to proceed and the ability to raise more funds increases with each exchange listing.

Cryptocurrency has vast potential to break down financial barriers. One barrier that is often overlooked is the barrier to entry that comes with being difficult to use for the average person. No matter how often enthusiasts downplay these difficulties, the fact that remains that average people who are not passionate about the technology will not make the sacrifice to learn how to use it. That’s why a project like FIO is needed and companies like Binance recognize this. Having a user-friendly layer on top of the cryptocurrency ecosystem has the potential to greatly enhance the community as a whole.

About the author:

Brad Spannbauer is the founder of Currency Hub LLC. He is a 20+ year internet veteran, compliance guru and a Certified Bitcoin Professional. Currency Hub is a FIO affiliate member & block producer.

Read the original story on Medium

Enigma Token Now Available on Currency Hub

Enigma Token Now Available on Currency Hub

Enigma is securing the future of the web. 

 Enigma Token Now Available on Currency Hub

Enigma wants to build a better internet by solving for privacy.

Enigma builds and supports groundbreaking privacy-focused technologies and networks. They are a core contributor to the Secret Network, a unique blockchain-based network where computations can be performed on encrypted data. Enigma’s mission: improve the adoption and usability of privacy-first products, for the benefit of all.

Enigma started at MIT in 2015 with a vision: solve the privacy crisis caused by today’s broken, over-centralized internet. A more decentralized internet, based on decentralized protocols and privacy-first products, can create enormous value, opportunity, and freedom for millions of people.

Now on Currency Hub, you can buy and sell ENG token, the native digital currency of the Enigma protocol.

 

About Enigma: We are securing the decentralized web. We solve for privacy with “secret” smart contracts, allowing dApps and blockchains to use private/sensitive data.

About currency Hub: With support for trading 150+ cryptocurrencies and fiat to crypto purchases, CurrencyHub.io and CryptoSimba.com are non-custodial cryptocurrency trading platforms where every transaction is encrypted, secure, and verified. It’s built using state-of-the-art tech with an appealing interface that allows anyone to safely buy and trade cryptocurrency. For more information, visit https://currencyhub.io.

How to get your mom to start using Cryptocurrency

How to get your mom to start using Cryptocurrency

How to Get Your Mom to Start Using Cryptocurrency

Why we need to support the FIO Foundation.

  April 7, 2020

Usability is the achilles heel of crypto adoption

Finding our way to mass adoption

This is where FIO comes in.

A look to the future

To succeed we all need to participate

About the author:

20+ Countries can now buy Bitcoin on Currency Hub

20+ Countries can now buy Bitcoin on Currency Hub

Apple Pay & Debit Card support now available in over 20 countries

Purchasing Crypto with Apple Pay & Debit Card is now available in over 20+ countriesBitcoin

 

March 27, 2020

CryptoSimba.com has added support for purchasing Bitcoin. Ethereum and other cryptocurrincy in more than 20 countries including Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Ireland, Italy, Latvia, Lithuania, Luxembourg, Mexico, The Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland. Thaks to our partner Wyre we are able to support even more crypto options globally.

Providing easy access to cryptocurrency is key to our success and we are excited to add this service for our users arould the world.

Fees: The cost will be 3.9% + $0.30 per transaction.
Supported Currencies: We will only be taking USD to start with and shortly introducing EUR/GBP/AUD as additional “source currencies.”
International users do not have to have USD in their bank account to use the service. There will be a conversion done by our payment processor at the time of the transaction.

Read the full story on the Wyre blog.Purchase Crypto on WYRE

About Currency Hub 
With support for trading 150+ cryptocurrencies and fiat to crypto purchases, CurrencyHub.io is non-custodial cryptocurrency trading platform. Every transaction is encrypted, secure and verified. It is a state-of-the-art platform with an easy to use interface allowing anyone to safely buy and trade cryptocurrency. For more information, please visit https://currencyhub.io or email info@currencyhub.io

 

About Wyre
Wyre is a regulated payment institution that connects fiat rails to blockchain ecosystems. Founded in 2013, Wyre has traded $3.5 billion in cryptocurrency assets in-house and has completed more than $1 billion in blockchain-powered cross-border payments. Operating an intricate global payment infrastructure that includes relationships with regulated counterparties, Wyre has procured not only same-day settlements but deep liquidity at best pricing & execution. Wyre is also one of the few US-licensed money transmitters in the crypto space and is proactively compliant with regulations. For more information, please visit www.sendwyre.com.

Buy Crypto with Debit Cards and Apple Pay

Buy Crypto with Debit Cards and Apple Pay

You Can Now Buy Cryptocurrency with Debit Cards and Apple Pay at Currency Hub

(SHERIDAN, Wyoming March 25, 2020) In a major coup for cryptocurrency investors, CurrencyHub.io the user-friendly cryptocurrency trading platform is making it easy to buy Bitcoin with a debit card or Apple Pay. However, your options aren’t limited to buying Bitcoin — other blue-chip crypto assets like Ethereum, MakerDAO, and Tether are also available.

Currency Hub’s support for buying cryptocurrency with a debit card or Apple Pay comes by way of a partnership with Wyre. As a world-class platform for creating fiat on/off ramps for cryptocurrency, Wyre has deep experience in the decentralized finance space.

Currency Hub + Wyre Partnership Introduces Simple & Safe Cryptocurrency Buying

Metamask, Maker, Airswap, Shapeshift, Celer, and Ren are just a few of the renowned cryptocurrency projects Wyre has partnered with for fiat integrations with blockchain protocols. As such, the team at Currency Hub proudly built a partnership with Wyre for the convenience, security, and fast payments today’s crypto investors demand.

Currency Hub’s CEO Brad Spannbauer believes that partnering with Wyre makes buying Bitcoin and other cryptocurrencies easier by removing technical boundaries.

“We’re excited to partner with Wyre to drive wider adoption of cryptocurrencies by removing barriers to entry. The biggest challenge we face is helping non-technical people access cryptocurrency assets and understanding the nuances of trading them. Currency Hub’s integration with Wyre helps new and seasoned traders purchase cryptocurrency by providing a streamlined buying process that everyone will enjoy.

 The good news isn’t limited to CurrencyHub.io users. CryptoSimba.com, Currency Hub LLCs alternative trading platform, is also benefiting from Wyre integration, giving the userbase there more buying options as well.

“We’re thrilled to be working with Currency Hub. They share our vision of making cryptocurrency accessible to all.” Said Jack Knutson, Wyre’s Growth Lead. “One of the most requested features for the Wyre platform is to add more currency pairs. Thanks to Currency Hub’s integration, users of the Wyre widget can now easily purchase crypto and then convert to 150+ currency pairs on Currencyhub.io.”Purchase Crypto on WYRE

Get to Know Currency Hub and Wyre

With support for trading 150+ cryptocurrencies and fiat to crypto purchases, Currency Hub LLC develops non-custodial cryptocurrency trading platforms where every transaction is encrypted, secure, and verified. It’s built using state-of-the-art tech with an appealing interface that allows anyone to safely buy and trade cryptocurrency. For more information, visit https://currencyhub.io.

Wyre is a regulated payment institution that connects fiat rails to blockchain ecosystems. Founded in 2013, Wyre has traded $3.5 billion in cryptocurrency assets in-house and has completed more than $1 billion in blockchain-powered cross-border payments. Operating an intricate global payment infrastructure that includes relationships with regulated counterparties, Wyre has procured not only same-day settlements but deep liquidity at best pricing & execution. Wyre is also one of the few US-licensed money transmitters in the crypto space and is proactively compliant with regulations. Head to www.sendwyre.com for additional details.