What exactly is CoinoMat?
Currently, the process of getting out of one cyrptocurrency and into another usually involves first selling that cryptocurrency for Bitcoin before you can make a bid for whichever currency you were hoping to buy in the first place. This not only adds fees by adding steps to the process, it also forces nearly all cryptocurrencies to be “pegged” to BTC. Meaning if BTC suffers, the entire market tends to suffer as well. Given the hostility that is sometimes thrown Bitcoin’s way and the fact that it currently represents the biggest target in the entire blockchain ecosystem it stands to reason....
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Coinomat.com, instant cryptocurrency and fiat exchange, is an starting alternative cryptocurrency integration program which should bring fiat transfers to each altcoin with an active community. Coinomat.com was launched in 2013 as an instant cryptocurrency exchanger. Currently Bitcoin, Litecoin, Dogecoin, Dash, NXT, Bitcoindark, Peercoin can be exchanged instantly, without registering a user account. The coinomat.com team has always considered direct fiat to cryptocurrency transfers (or, better, lack of thereof for most alts) as the main obstacle for altcoins adoption. Several directions....
Bitcoin remittance programs are sometimes considered the sips from the holy grail of decentralization. Many crypto-startups are trying to add this to their resume by providing cheaper and far efficient money sending platforms to those in need. The peer-to-peer live exchange Coinomat is now offering a program that handles operations like this in India. Coinomat is a service that allows instant trading and the purchasing of cryptocurrencies such as Bitcoin and a variety of Altcoins. The difference between the Coinomat process and other exchanges is that you can instantly transfer between....
On the heels of news from earlier this week that CCEDK and Poloniex had begun to offer support for NXT, Coinomat upped the ante by making NXT available for bank card payments. In a statement, Coinomat representatives said that the company was integrating NXT into its brokering platform and that it was rolling out a “service which allows customers to send NXT to any Visa or MasterCard worldwide, opening a huge new market for NXT.” “This is a vital step in ‘unpegging’ NXT from Bitcoin, allowing it to thrive on its own terms: until now, NXT-to-fiat conversion has always required Bitcoin....
Disclosure: I own stake in a variety of the assets related to Supernet projects. Soft launch of the Supernet v0 wallet was announced November 14th by James on the Slack channels with a cheerful:"Supernet v0 launched yesterday, took everyone by surprise. gotta love decentralization :)" -JL777Users of the Supernet may now withdraw Bitcoin, Litecoin, Peercoin and NXT directly out to Visa and Mastercards around the globe! Payouts are done in US dollars and local banks set fiat exchange rate. This is a server provided by Coinomat. Users can also be relieved to trade on the first live....
I examine the dollar tracking mechanisms of both NXT and BitsharesX. If a few months ago you would have told me I’d have two digital options, existing in an extremely low fee environment, capable of shoring up value because they were pegged to the US Dollar… I probably wouldn’t have believed you. If your currency of choice is going through a chaotic, volatile phase why not simply store that value (temporarily) in an asset that will always track the dollar relative to your currency? Sit back, wait for the chaos to have subsumed and buy back the currency you originally had in small dollar....