VirtualBarter has announced the launch of CryptoBarter Exchange. Read full press release below.
CryptoBarter Exchange Launched to Trade and Pay with Bitcoin, Ether, BarterCoin, and Altcoin
CryptoBarterExchange.com enables sales of excess inventory, capacity or production to a new vast market of cryptocurrency buyers locally and worldwide.
published: February 12, 2018
Bradenton, Florida — 2/12/18: VirtualBarter launched CryptoBarter, a custom cryptocurrency commerce marketplace built on its Reciprio, (www.reciprio.com) white label virtual commerce marketplace and member portal platform. Typically used by barter exchanges, gift card companies, for digital payments, transaction processing and reward redemption, CryptoBarter now adds cryptocurrency sales and purchasing to the Reciprio Virtual Commerce platform.
Leveraging cryptocurrency in an exchange marketplace fosters new digital currency payments for merchant members to increase sales and mitigate some of the challenges members face accepting barter dollars alone,” says VirtualBarter’s Founder and CEO, Bruce Kamm. For barter exchanges, cryptocurrency provides new opportunities for its members to acquire new customers and increase sales to a vast market of cryptocurrency holders and investors having over $550 billion in cryptocurrency, with few places to spend it.
Blockchain technology enables new offerings in industries as diverse as financial services, health care, supply chain, hospitality, retail, music, advertising, media, retail, and many others. It can create new forms of tradeable assets that make it possible to trade and monetize existing illiquid assets such as real estate, empty hotel rooms, empty seats in restaurants and unsold perishable media for cryptocurrency, which can also be traded or sold for cash.
Numerous cryptocurrency exchanges offer investors the possibility of trading currencies, but using cryptocurrency for commerce and payments, which was actually the original intent of Bitcoin’s creator, still remains a major challenge.
Although over 29 million merchants accept credit and debit cards for payment at the Point of Sale, according to Spendbitcoins.com, less than 20,000 businesses accept Bitcoin for payment. And even less accept any of the other 1500 alternate cryptocurrencies (altcoins), all having a total market cap of more than $550 billion.
Most businesses that accept cryptocurrency are large companies that allow their online products to be purchased with Bitcoin. Some small businesses aren’t missing out on the action, as many small shops started accepting cryptocurrency as well. But, the challenge still remains to easily use cryptocurrency, especially altcoins, for purchases, just like using cash or credit cards for payment at the point of sale. Until now…
CryptoBarter was developed to provide millions of cryptocurrency investors with the opportunity to spend Bitcoin, Ether and altcoins for products, services, media and travel. Its online marketplace and transaction processing platform leverages blockchain to enable using cryptocurrency for sales and purchases.
When companies or barter exchanges join the CryptoBarter Exchange, they get a trade management account, and access to its Global Trade Marketplace to transact commerce with other CryptoBarter merchants and barter exchanges throughout the world.
With membership, similar to a business checking account at a bank, members have a digital currency trade account, except that deposits from sales and payments for purchases are made with cryptocurrency instead of cash, and the currency is stored in a Bitcoin, Ether or altcoin wallet.
- Cryptocurrency payments is a new member benefit that barter exchanges can offer its members.
- Enabling members to buy and sell with cryptocurrency creates new distribution channels, and increased sales and purchasing opportunities.
- Barter exchanges benefit from increased transaction velocity and transaction fees.
About CryptoBarter Exchange:
CryptoBarter Exchange was created for any business, merchant, exchange, or entrepreneur to reach a vast new audience of customers that are looking for businesses that accept cryptocurrency payments. As cryptocurrency transactions have very low transaction fees, barter exchanges can offer Bitcoin, Ether, Bartercoin, and altcoin trading to members to increase transaction fee revenue from cryptocurrency sales and purchases.
VirtualBarter is an Internet technology company establishing new marketplaces, distribution channels and point of purchase transaction processing for local and worldwide commerce. The company created a global trade marketplace platform for barter exchanges, associations, chambers of commerce, business networks, vertical industries, and their members to provide a seamlessly integrated family of branded online barter and commerce services that have the potential to transform companies, trade exchanges and the commercial barter industry into a unified economy of global cashless trade.
VirtualBarter and its merchant services partners provide proprietary barter and commerce marketplaces, trade exchange management solutions, point of purchase transaction processing, donation management and reward and loyalty programs. It provides companies with Internet trading application solutions that capture full price for surplus inventory, excess capacity or non-performing assets while expanding their customer base or enabling them to do business in countries with unstable currency.
VirtualBarter also provides liquidity for existing retail barter exchanges serving companies of all sizes, and corporate barter companies serving large multinational corporations, and will ultimately serve as a network of global clearinghouses for barter and trade.
By aggregating buyers, sellers, products, services, communities and vertical industries in interconnected marketplaces, VirtualBarter and its alliance partners have begun the process of creating The Global Trade Commerce Economy.