Tether, the world’s first blockchain-enabled platform, made another groundbreaking feat by partnering with Cryptsy to achieve the widespread convenience of users in terms of Bitcoin exchange.
Crypts International (Cryptsy)is a startup business spearheaded by the Project Investors, Inc., a company that houses more than 200 different types of cryptocurrencies. Its main services provide cryptocoin-to-cryptocoin and fiat-to-cryptocoin trades and transfers.
Known for its innovative ways in exchanging digital coins, Tether‘s services can now be used on Cryptsy’s platform, allowing users to exchange their converted TetherUSD (USD₮) for other virtual coins provided by the latter.
Partnership beneficial for the whole BTC ecosystem
Through the partnership between the two leading exchange platforms, Bitcoin and altcoin users are provided with seamless possibilities, especially in the complex branch of Bitcoin conversion.
According to Project Investors, Inc.’s CEO Paul Vernon, their integration with Tether provided a stable ground for crypto conversion rates:
“We’re excited to have such an innovative and disruptive approach to digital currency integrated with our platform. Being able to connect the Blockchain to Tether’s fiat-backed digital currency provides a level of stability and reassurance not previously seen in this sector.”
The partnership paved the way for faster and smoother transactions via these exchanges. Before Tether’s integration, all exchanges done on Cryptsy are powered by fiat currencies. However, these transactions take too much of the clients’ time because of several bank verifications and identity authentications.
Their incorporation of the blockchain-enabled platform eliminated the presence of the third-party individual, making virtual transactions direct and easy.
Subsequently, the absence of the third-party processor also granted Bitcoin and altcoin users with fast overseas value transfers without the volatility concerns of Bitcoin. In line with this, Tether is now doing the necessary procedures to cater to fiat currencies such as Japanese yen and euros. With this, the user base of both Cryptsy and Tether will reach further to the Asian and European regions.
Tether’s Co-Founder and CEO, Reeve Collins, views the partnership as a stepping stone for the widespread adoption of Bitcoin and other cryptocurrencies. He said that the recent integration of his company with Cryptsy will be favorable for the whole cryptocurrency community.
Advantages the partnership brings to the Bitcoin casino market
The Bitcoin casino market covers a significant portion of the entire Bitcoin transactions to date, showing that many users prefer to play Bitcoin games online. Likewise, most Bitcoin gambling-related transactions involve fiat-to-crypto exchanges, especially when buying BTC for bankroll and exchanging their winnings for USD, for instance. With these facts at hand, it is certain that this latest partnership will boost the gamblers’ convenience with virtual exchanges.
Players are stripped off the difficulty of looking for a credible money converter together with the limitations brought up by their respective coin.
For example, players who flock Crypto-Games.net, a cryptocurrency betting website that hosts games for several altcoins and formerly hosted the Dogecoin Machine game, can take advantage of the partnership’s services. Players can immediately place LTC bets by using the BTC funds in their wallet through the services provided by the systems of Tether and Cryptsy.
Moving forward, both company’s system integration prides on the convenience it brings to Bitcoin players and users on a global scale. The Tether-Cryptsy partnership also serves as a benchmark that Bitcoin and other digital coins are now on the verge of mainstream assimilation.