Bitreserve, the payments company that was launched by CNET founder Halsley Minor has engaged in a partnership with Mexican billionaire Ricardo Salinas-Pliego.
Bitreserve is a company that seeks to find feasible solutions to Bitcoin’s problems of volatility and instability.What sets Bitreserve apart from the rest of the Bitcoin run companies is that it aims to provide economical and speedy international transaction services at a level that has never been achieved before.One of their major target audiences of Bitreserve are the people living in the developing countries where banking services are not up to the mark.Bitcoin deposits are accepted by Bitreserve from its users. The deposited coins can then be converted into a number of different fiat currencies. This is done to elude the constant fluctuations that take place in this cryptocurrency.
Most people’s businesses are often negatively affected by these price fluctuations. A lot of the users convert their money back to bitcoin in an attempt to capitalize on the Internet currency’s almost instantaneous, peer to peer transaction network.Another feature of Bitreserve is the ledger that they provide to their clients. This functions in a similar way to the block chain technology in Bitcoin. The ledger has the ability to take note of every single minute change that takes place in the assets of the company.
It also serves as mechanism that gives a detailed history of every single amount of currency that has been spent in the network of the ledger.Users of Bitreserve can convert their bitcoins to the U.S. dollar, renmibi, euro, British pound and the yen.
Courtesy of the collaboration with the Mexican tycoon investor, Bitreserve has now shifted its focus to the Mexican peso which has been included as another one of its currencies available for conversion.Along with the Mexican peso, Bitreserve have included the Indian rupee into their system as well. This is a part of their ongoing attempt to cater to the people of the developing countries such as India.For each transaction that is made, the company receives its share of profit in the form of a 0.
45% commission. Reserves are kept on hand in order to negate the effect of extreme price fluctuations in the Bitcoin market.The amount of money that was invested in Bitreserve by the new prominent investor remains to be disclosed."We are committed to reducing costs and putting consumers and businesses in control of their money," Minor, Bitreserve’s chief executive, wrote in a blog post."Our growth and partnerships are a testament to people around the world recognizing that together we can build a fairer, faster, lower cost, transparent and real-time financial system.
"The company has recently released a data visualization website by the name of changemoney.org. With the help of this site, users can now see transactions being made in real time.As long as Bitcoin based companies like Bitreserve can lure in heavy investors such as this Mexican billionaire, then Bitcoin services will continue to proceed in the right direction in the days to come.
