Blockchain

BTX Trader’s Celery Makes it Easy to Buy and Trade with your First Bitcoins

MEDICI

Thirty-two percent of people between the ages of 18 and 24 say they would consider using alternative currencies, such as Bitcoin, according to a recent survey. This suggests that demand for the new technologies is growing. On 25th July 2014, BTX Trader, provider of a multi-exchange online trading system for digital currencies,– announced the launch of Celery, a new web-based product committed to putting digital currency in the hands of hundreds of thousands of ordinary consumers.

Celery is available at www.gocelery.com as of 25th July. The company says it is the simplest and fastest way for mainstream consumers to buy their first Bitcoins and Dogecoins. The product offers access to several types of digital currency, and BTX Trader employs direct bank transfers for the process.

"Digital currency is more than a novelty,” stated Ilya Subkhankulov, chief operating officer of BTX Trader, in a press release. “Major merchants including Expedia and Newegg are validating the market, whilst increasing regulatory clarity is giving more confidence in the stability and value of the technology. However, as the process of acquiring their first coins remains too complex, most consumers are excluded from this revolution. Bitcoin-mining computers are too expensive for most users, while acquiring coins from an exchange requires initiating wire transfers and can take up to five days.

“Celery keeps things simple by using friendly language, only asking for basic sign-up information and using direct bank funding, meaning customers can use their first coins from their new Celery wallet dashboard within just three to four business days."

  • Celery’s mission is to expand digital-currency usage beyond the first wave of sophisticated early financial adopters.
  • It may be used for spending with a burgeoning array of retailers, for saving as a long-term investment or simply for exploring the new world of online finance, the company says.
  • By simplifying digital currency, which today is not just costly but knowledge-intensive, Celery aims to broaden the adoption of currencies such as Dogecoin and Bitcoin.
  • The sign-up process takes barely five minutes, and once bank verification is complete, customers can have access to digital-currency orders within a few minutes.
  • Celery’s competition enables customers to buy digital currencies but imposes various limitations requiring new users to jump through administrative hoops and initiate bank transfers.
  • These barriers mean that they cannot obtain their coins for five days. Celery says that speeding up the process is a competitive advantage that will help drive take-up.
  • As for security, over 90% of Celery’s client funds are held in cold storage, detached from the Internet, while Celery also encrypts all personal information.

"We have had a great response to BTX Trader since launching in April,” said Divya Thakur, co-founder and CTO of BTX trader, in a press release. “The platform has accumulated 6,000 users, 1% of which actively log into the platform regularly to monitor the market and place trades with Bitcoin exchanges. We are convinced great times are ahead for cryptocurrencies, but only if adoption can grow beyond experienced financial technology enthusiasts. That's why we are launching Celery to ensure everyone can participate in the digital currency revolution."

MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI team who collaborate to create FinTech insights.

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