Cryptocurrency Adoption Boosted By MerchantCoin Announcement At CoinAgenda

October 8, 2014 12:03 UTC

Today marks the beginning of CoinAgenda, a Bitcoin conference made especially for Bitcoin investors. Companies from around the world are gathering in sunny Las Vegas to present their ideas to over a hundred hopeful investors that have or are interested in making moves in the digital currency space. One such Bitcoin company that is seeking new users (advocates) is MerchantCoin, a new cryptocurrency that exists to promote Bitcoin and greater cryptocurrency use where it is needed most: Merchants.

Also read: MerchantCoin Incentivizes Bitcoin Adoption

According to their website:

MerchantCoin was created as a vehicle to generate market awareness and use of bitcoin through direct incentives to Merchants, advocates and consumers enabling adoption.

The MerchantCoin mission is further expanded and described in their recently published whitepaper. Over the last several years, Bitcoin adoption has certainly taken huge steps forward. In 2014 alone, many large online companies (such as Overstock, Newegg, DISH, etc) started accepting Bitcoin. For these large companies, international press coverage will lead to days of increased Bitcoin sales, and thus extra profits earned. However, even for these large companies, once the hype dies down, the volume of Bitcoin sales does as well. For smaller companies, the initial hype and jump in sales simply does not happen.

MerchantCoin mWallet Solution

Using a new wallet called the mWallet, users will be able to send or receive both Bitcoin and MerchantCoin (XMC). As part of their announcement today, MerchantCoin has revealed that the top 25 altcoins by market cap will also be supported by mWallet. MerchantCoin’s CEO, Kirk St. James told CCN his longterm vision:

This is unprecedented and has the potential to exponentially expand adoption of bitcoin on a global basis. Our vision is a world where crypto-currencies are routinely used for purchases of every day products, services, real estate, loans, investments, and charitable donations.

Images from Shutterstock.

Last modified: October 8, 2014 13:49 UTC

@bitxbitxbitcoin

Caleb is a graduate of the University of Virginia where he studied Economics, East Asian Studies, and Mathematics. He is currently pursuing his MSc in Digital Currency at the University of Nicosia.

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