The Bitcoin business sector is speeding up its pace as Bitcoin payment processor and storage provider Coinapult makes its way back to the US with the aid of financial service provider Crypto Capital. Through this partnership, US-based Bitcoin users are once again granted with a unique way of storing their cryptocurrencies.
Coinapult has already established itself as one of the most efficient and reliable Bitcoin storages among its kind and has previously operated in the US. However, its website was blocked beginning July last year from its US clients as the company failed to comply with the country’s licensing regulation.
Moving forward, Coinapult has rigorously prepared for its comeback in the US. Through its partnership with Crypto Capital, the Bitcoin payment and storage firm is ready to service the American cryptocoin users again.
Coinapult-Crypto Capital partnership
Crypto Capital is a licensed money transmitter based in Panama. Since Coinapult integrated its services to the money service provider, all transactions that were forbidden to long-time and recent US Coinapult users are again accessible through Crypto Capital’s platform.
Moreover, all future fiat transactions will now be operated via Crypto Capital. A Coinapult representative elaborated the changes on the company’s management in an online interview:
“From both a legal and financial perspective, any fiat movement between Coinapult and our customers will be handled through Crypto Capital functioning as a licensed money transmitter on behalf of Coinapult.”
In line with the changes, Crypto Capital announced that clients are also provided with a “segregated fiat account,” a feature unique to US Coinapult customers. Users that own Bitcoin-based businesses are now able to organize BTC and fiat amounts on these accounts together with the LOCKS feature that secures the value of stored BTC.
This LOCKS feature is the main selling point of Coinapult for it makes itself stand out among the majority of Bitcoin storage providers.
How LOCKS system works
Coinapult’s LOCKS feature is the answer to BTC users’ plight against the fluctuating value of Bitcoin. This feature allows users to lock the value of their deposited Bitcoin, regardless of the changes that may occur. That being said, users that have deposited BTC that amounts to a huge value of fiat will still obtain the same amount even after the BTC prices dropped.
For instance, a user deposits bitcoins that are worth $100. Once the deposit is done, the amount will remain $100, even if prices plunge tomorrow. What’s great about the LOCKS feature is that deposited BTC can be withdrawn with the new price.
Bitcoin gambling industry can benefit from the LOCKS feature
Considering the unstable market value of Bitcoin, Bitcoin gambling venues are among the affected parties in the Bitcoin ecosystem. Bitcoin gamblers are given the idea that the jackpot they won today would amount to just a change by tomorrow.
However, with Coinapult’s services accessible again, Bitcoin bettors in the US can certainly benefit from this feature.
Players in high-paying Bitcoin casino venues like Fun Casino, Coinroll, and Princess Star can transfer their jackpot winnings in Coinapult’s’ vault, locking its current market value. In this sense, the amount of the jackpot deposited will still remain the same, which is favorable on the winner’s end.
On another note, bettors playing on Bitcoin sites that only require small accounts of BTC can also use the services provided by Coinapult. Players can withdraw the needed amount of BTC for their Bitcoin games while keeping the locked amount intact.
The Coinapult-Crypyo Capital partnership is tantamount to a momentous achievement in the Bitcoin ecosystem, particularly in the US. Moreover, with a solution against the shaky Bitcoin market exchange, Coinapult’s LOCKS feature can possibly be the path to the realization of a stable BTC value in the industry.