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Virtual Crypto Technologies launches Bit4Sure, a proprietary cryptocurrency transaction confirmation API
Company Also Launches Bit4Sure Mobile App Giving Consumers Free Access To The Service
Typically, cryptocurrency users must wait at least 10 minutes after purchasing or selling bitcoin for the blockchain to confirm that a given transaction is valid. This wait period, combined with a degree of uncertainty regarding the legitimacy of any trade, make cryptocurrency impractical for many everyday commerce situations, strengthening the incentive for businesses and consumers to stick to traditional payment methods.
The Virtual Crypto solution bridges the time gap from when a transaction is published on the bitcoin network to the moment it joins the blockchain, essentially confirming a transaction before it reaches the blockchain for inclusion in a mined block.
The Bit4Sure API provides subscribers with direct access to Virtual Crypto’s proprietary algorithm model, giving them real-time confirmation of cryptocurrency transactions, as well as the ability to monitor the trading market of any cryptocurrency, protecting subscribers from delay, double-spending and fraud. The Company anticipates the Bit4Sure API will be particularly attractive to crypto exchanges, payment processors, crypto wallets and other direct participants in the industry.
The App, which is compatible with Android and iOS and available for download at Google Play and the Apple Store, and can also be accessed via web browsers (bit4sure.com), is intuitive and easy to use. Users simply copy and paste their transaction ID into the search box, press enter and immediately receive one of the following four messages:
Full Confirmation: The transaction has already been embedded in blockchain
Transaction validated with the probability to enter in next block and estimated time: The transaction is waiting to be edited on the public blockchain ledger
Not validated, estimated time transaction will enter the blockchain: The transaction might be confirmed in next block
Not Confirmed: The ID transaction address is not recognized and/or there is a problem with the transaction hash and it is not confirmed
Alon Dayan, co-founder and CEO of Virtual Crypto, commented on the launch, “This launch is yet another step in our objective of building consumer confidence in the cryptocurrency marketplace. Bit4Sure speeds up the trading process and removes much of the risk associated with autonomous transactions, providing tremendous values to businesses working to establish a presence in this burgeoning industry.”
Dayan went on to say, “Although there are more than 1,000 cryptocurrencies in the market, they’re only being used by a relatively small segment of the population. We believe this is primarily due to a lack of information about cryptocurrencies and the way they work. By providing aspiring traders a free platform where they can experiment in the crypto-market with minimal risk, we are hopeful that they will take advantage of the opportunity and discover just how easy it is.”
About Virtual Crypto Technologies Inc.
Virtual Crypto Technologies Inc., through its wholly owned Israeli subsidiary Virtual Crypto Technologies Ltd., has developed the NetoBit Trader, a proprietary, cryptographic algorithmic technology that it is able to confirm in real-time the purchase or sale of any cryptocurrency.
Virtual – Crypto’s NetoBit products dramatically improve the cryptocurrency trading experience with faster execution and lower costs. Setting a new time-to-transaction standard, trading in seconds rather the industry norm of 20 minutes. Because of its speed, customers enjoy the best crypto-exchange rate at the point of transaction.
The Company is marketing its NetoBit Trader software and hardware products for the purchase and sale of cryptocurrencies through ATMs, tablets, PCs and mobile devices. Virtual Crypto Technologies further believes that the ability to immediately confirm cryptocurrency transactions in real-time provides a significant competitive advantage in making the purchase and sale of crypto-currencies user friendly.
Notice Regarding Forward-Looking Statements
This press release may contain forward-looking statements, about the Company’s expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, the Company or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as “believe,” “expect,” “intend,” “plan,” “may,” “should” or “anticipate” or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by the Company, f/k/a Emerald Medical Applications Corp., with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of the Company’s authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause Virtual Crypto’s actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause Virtual Crypto’s actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in the Company’s filings with the SEC (under its former name, Emerald Medical Applications Corp.) In addition, Virtual Crypto operates in a relatively new industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. Virtual Crypto does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Reference is made to the disclosure contained in our Form 8-K filed with the U.S. Securities and Exchange Commission on March 12, 2018, with respect to the change in our business operations and the change in the Company’s name and trading symbol.
For more information go to http://virtual-crypto.com/
Alon Dayan, CEO Virtual Crypto Technologies Ltd
Tel: +972 54-487-7959
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