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BeFaster dApp Release Euphoria Begins as BFCH Token Announced to be Listed on LaToken Soon

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The Tron ecosystem has been flooded with multiple updates and developments from organizations trying to make their mark. This has resulted in a surge of interest and changes in the industry with some introductions creating waves all across the cryptocurrency ecosystem.

If one looks at the Tron industry, it becomes apparent that BeFaster has become one of the most striking dApps out there. With a focus on integrating the blockchain industry with fitness, the application has come a long way in helping people understand the concept of ‘earning while exercising’. 

Ever since its inception, BeFaster has made it a priority to show users that it was not just another run-of-the-mill decentralized application. The application has gone through multiple testings over the past couple of months so that users can avail the best possible experience from it. Along with the application BeFaster also includes the BFCH token which now has its own arc. 

In a recent series of tweets, BeFaster informed the community about the future of the BFCH token. Users had the opportunity to buy BFCH tokens at $0.6 before the expected price hike connected to the impending Latoken listing. According to sources within BeFaster, BFCH will be listed on Latoken at $1, a whopping 66.6 percent growth in the 7-day timeframe. BeFaster gives users the option to use either their Visa or MasterCard to purchase BFCH tokens. 

All users need to do is visit https://www.befaster.fit/en/buy-crypto/ and enter the amount they want to spend in fiat currency. This will then be converted into the corresponding amount in BFCH tokens. Once the user decides on the sum, they will need to enter their e-mail address and the exact address of the wallet where the capital will be deposited. BeFaster has told TWJ that the programming for the application is being processed on time with an imminent launch.

The BFCH token stands out from the rest of its compatriots because of how far it has come since the start. The token value jumped from $0.2 to $1 in less than six months, an increased rate unseen even in the cryptocurrency industry’s big honchos. BeFaster sources revealed that the BFCH token would not only be useful in the fitness space, but also in the overall trading industry. Once the dApp is released, the token’s price is expected to skyrocket once more.

inlineTo keep users hooked, the BeFaster team recently teased the third screen of the dApp. The page included all the details required during a workout with additional inputs such as maps and the number of calories burnt. This in-depth analysis was BeFaster’s way of showing that users will be committed to using the application for its fitness purposes while dabbling in crypto at the same time. 

 

 

Tron Europe Stands Out From Pack as TERCIUM Token Swap Delights Customer Base

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The TERCIUM Universe has been quite active over the past few weeks, with many things written about possible token swaps and their effect on the Tron-Europe ecosystem. Keeping up with this pattern, the reports showed that the team executed all the steps in the background in a discreet manner. On Friday, the 7th of August, Polonidex swapped the TERCIUM-token much to the delight of the entire community.

Sources told TWJ that the method to achieve this was surprising but it had the intended effect of taking a significant step towards a decentralized future. To recall the facts and to make the development progress more clear, here is some small overview of the completed changes:

  • Swap gives TERC decimals
  • Total supply reduced from 10b to 4b → that is a burn of 60%
  • Correct display of circulating supply
  • Voter/holder rewards count beginning with 1000

Besides the aforementioned advantages, the community should be aware of the following points:

  •  The swap for the old tokens begins on Friday 14th, August
  •  Routine tests will be conducted till the 14th to make sure all things work according to plan
  • The token swap will be executed with a wallet (address to be announced), where users can exchange their old tokens for the new ones at a 1:1 ratio
  • Users are assured that they will be able to swap their tokens at the 1:1 ratio during the first half of the year at no loss of worth
  • The old token will exist further so it can be swapped even later but with restrictions.

According to Tron-Europe, the developments have been systematic and consistent with the charted roadmap. TE further stated that due to the swap there have been some uncertainties in the community. To counter the spread of such rumours, the organization has assured the community that:

– nobody can take a user’s coins away without access to your wallet

– most of the displaying statistics of the token are connected to Polonidex, which boosts it‘s delisting exponential

Tron-Europe’s latest statements show the actual benefits of the project and  what users will enjoy post the swap. Apart from the listed features, the TERCIUM era is also set to bring in more features and updates to the table. Some of them include:

  • Buying TERC with credit card
  • New exchanges 
  • Plans to implement TERC into Coinpayment’s net with access to 200000 merchants
  • The BeFaster launch
  • Users being able to enjoy access to the Revolt Beta version

All the points mentioned above provide a nice view of, where the path can lead to. The TERCIUM – Force is also set to grow into a stronghold that seeks its own kind. As the cryptocurrency market, ebbs and flows with time, companies like Tron-Europe have steadfastly stuck to their winning formula. With the advent of TERCIUM right around the corner, the trading community as well as the developer community are waiting with bated breath to see the bright future ahead.

 

Crypto’s Relationship with KYC: How are Companies like BeFaster Transforming the Future Landscape?

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The cryptocurrency industry is no stranger to controversies surrounding it in terms of privacy and security. Multiple reports have claimed that the number of scams and frauds in the digital asset sector has only increased over the year with projections looking at higher numbers.

To put a stop to these issues, many cryptocurrency organizations and companies brought in the concept of Know Your Customer [KYC]. The idea of KYC was first popularized in the mainstream banking culture where customers were held accountable for their accounts and their actions in the financial ecosystem. This was also a way to ensure that institutions were not dealing with bad actors who used legitimate channels to funnel dirty money.

It is interesting to see how far the cryptocurrency industry has come from its initial days of being the wild wild west of the financial world. When Bitcoin was first introduced to the public eye in 2009, very few people were involved in trading it. As the number of investors and traders increased, the regulatory system could not keep up with. This led to large scale scams that resulted in people losing millions of dollars worth of their holdings. 

As the industry progressed over the years, regulatory authorities like the US Securities and Exchange Commission [SEC] and CFTC made it a point to keep a close tab on it. At the same time, crypto companies also understood that if they needed to be accepted into the mainstream fold, they had to take certain steps to ensure customer and capital safety. Since 2013, a majority of the companies in the cryptoverse such as Coinbase and Binance have integrated KYC and AML into their workings. 

AML or Anti Money Laundering is a way to keep track of funds within a cryptocurrency system and its buy and sell points. Bodies such as the SEC have repeatedly pointed out that the main reason why cryptocurrencies are not considered as a legal tender is because of their decentralized nature. Some of the common steps in a KYC process are:

  • Verifying customer identity- Customers are usually asked to upload a document that is valid and not expired with a photo that is included. 
  • International customers are asked to provide another layer of confirmation because of a company’s lack of physical reach across borders.
  • Over the years, crypto companies have made it easy for customers to provide documents thereby allowing trades to take places at a seamless rate.

The side effects of large scale KYC implementation

Although KYC is seen as a step in the right direction when it comes to privacy and customer protection, many have called it a blatant violation of credential safety. Many crypto traders have admitted that the anonymous nature of the industry was one of its main attractions. Taking that away made just like any other financial system where user information was privy to the government.

This issue reached a head when rumors began circulating that Coinbase was planning to sell its blockchain analytics software to the US government. The uproar was not just verbal as customers withdrew almost $200 million worth of Bitcoin in an instant. The news was also a good starting point for several other exchanges that did not ask for any KYC details.

The future of KYC

It is pretty safe to assume that the concept of KYC is not going anywhere if the cryptocurrency sector wants to go mainstream and achieve global adoption. Companies will have to comply with certain regulations set by governments and regulatory authorities but that does not mean that they have to forgo the core fundamentals of the virtual asset world. 

Blockchain-based fitness application BeFaster.fit is an example of an organization that has adopted KYC while retaining its core values. BeFaster investors are required to submit details that are checked and stored by third parties contracted by BeFaster.fit and which are not disclosed to any external party.

It is imperative that more companies adopt this routine so that there is a proper check-in the ecosystem they are creating. At the moment, the onus is on both companies and users to protect the ecosystem before naysayers wipe it out with their criticism.  A project or start-up that does not offer the KYC process on its own or through an external service provider is definitely not a safe haven for investors.

In today’s world, one can deduce that projects without KYC often have no honest intentions. Of course, a KYC procedure is associated with a certain amount of effort for many investors. But it protects the investor from scam projects and a possible total loss. A company without KYC may receive a regulatory ban and have to cease operations. 

A project or start-up that does not offer the KYC process on its own or through an external service provider is definitely not a safe haven for investors. In today’s world, one can deduce that projects without KYC often have no honest intentions. Of course, a KYC procedure is associated with a certain amount of effort for many investors. But it protects the investor from scam projects and a possible total loss. 

A company without KYC may receive a regulatory ban and have to cease operations. Here, the responsible authorities are taking more and more frequent and binding action to provide the greatest possible security for the entire financial-economic structure. In summary, it can be said that companies and projects with KYC procedures are more likely to meet the regulatory requirements and licenses. A strong foundation steeped in fund protection is the way to go for future mass adoption.

Here, the responsible authorities are taking more and more frequent and binding action to provide the greatest possible security for the entire financial-economic structure. In summary, it can be said that companies and projects with KYC procedures are more likely to meet the regulatory requirements and licenses. A strong foundation steeped in fund protection is the way to go for future mass adoption. 

The Indian Cryptocurrency Saga: From Bans to Massive Investments and Everything In Between

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India has always been an epicenter of growth and development, with a large demographic that plays a key role in creating markets. The population of the country has also been a major pull for cryptocurrency companies that have understood the impact it could have on mainstream adoption. All this conceptualisation came to a grinding halt in April 2018 when all forms of cryptocurrency transactions were banned by the country’s primary bank.

The Supreme Court of India finally lifted the ban in March 2020 after months of trials and legal battles by crypto-currency evangelists. This decision has brought in a wave of new investments and the South Asian subcontinent looks bright for the future. Let’s look now at how India’s virtual asset industry has changed and where it can go from that point forward.

Since Bitcoin ‘s inception, world governments have been scrambling to ensure that regulatory clarity in terms of the cryptocurrency industry is maintained. India has also been caught in the mix, debating the industry and how it can be managed.

2018 and the RBI ban

India had a functioning and thriving community of crypto-currency prior to the ban. Several crypto-currency exchanges and companies played a prominent role in creating the ecosystem of digital assets in India. Once the RBI made it illegal for cryptocurrencies to act as legal tender, major players like Zebpay and Coinex almost instantly had to shut down shop. Some organizations have decided to leave the country and take their business to another location. Analysts noted that despite the ban, there were still several citizens trading in crypto although using foreign exchanges.

The Supreme Court- Crypto’s Messiah

The cryptocurrency ban revealed one thing about the Indian masses-the would not take anything sitting down. Once the ban was in place, several cryptocurrency supporters and evangelists made it a point to move the country’s highest court for a fair trial. Non-profit groups and associations hired their own legal teams to make crypto’s case which finally came to fruition in March.

According to the Supreme Court’s latest decision, cryptocurrencies were no longer an illegal tender in India. This also meant that traders could finally make INR to crypto transactions without having to worry about conversions rates related to stablecoins or foreign currencies.

The Indin Cryptocurrency Scene Now

All doubts about the effectiveness of the court’s decision were removed when Indian traders jumped into the fray once more wholeheartedly. Reports showed that in the month of March alone, the Nischal Shetty founded Wazir X saw a whopping 400 per cent rise in trading volume. The exchange witnessed a 270 per cent spike the following month, unheard of consecutive figures in the Indian cryptocurrency community.

India’s potential was also recognized by the Chnaghpeng Zhao led Binance, which initiated a $50 million fund to promote blockchain technology in India. This was done in partnership with WazirX with a promise to build a more sustainable digital asset ecosystem in the country. Shetty, who is also the chief executive of WazirX had said:

“They [investors] have realized that a lot of startups are mushrooming and they want to be the early movers,” he said. “In the US, there are huge investments taking place (in crypto startups) since 2010, which will also happen in India.”

What does the future hold?

There is no doubt that, now that the ban is lifted, more and more investors will continue to make inroads into the country. Popular organizations such as BeFaster and CoinSwitch recognize that the wide scale scope offered by the population of the country is incomparable to the rest of the world.

If proper steps are taken, the companies mentioned above will have access to millions of traders most of whom are under the age of 30. Blockchain-based applications such as BeFaster will be attractive to the younger generations due to their focus on fitness and health. Customers of the application will also be able to earn tokens according to how they use it. BeFaster’s Co-Founders and CEOs, Irina Manilitsch told TWJ that:

“The fact that the government of India is opening up to cryptocurrencies right now is a great opportunity for investors and the population. The people of India will now also have the opportunity to generate additional income just by moving. Investors, on the other hand, now have the chance to invest in the future and a booming market.”

The path toward mainstream acceptance, however, is not all rosy. Reports have said some crypto companies still find it hard to operate in India because some banks refuse to deal with them. For their part, the banks have referred to the criminal activities that are being conducted using crypto as the key deterrent. If the crypto-currency industry needs to take off in India, exchanges and companies are responsible for providing a safe and legal environment for virtual asset trading.

 

 

 

Exclusive: The Bitcoin Man Talks about BeFaster, Impact of Coronavirus on the Economy and Much More

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The cryptocurrency industry has seen its fair share of updates and developments that have propelled it into the mainstream stratosphere. One of the most popular personalities in this growing industry is Mr. Herbert Sim, better known as ‘The Bitcoin Man’. He is also the founder of Crypto Chain University– the world’s first repository for blockchain and crypto research papers. Sim’s credentials also include being the Chairman of FortuneZ, a portal for iGaming, crypto and forex news.

Mr. Sim made news recently when he joined the BeFaster team as an investor and consultant. Tron Weekly caught up with him and was able to pick up his brain on the questions which we all wanted to ask. The interview covered all the topics from his ‘origin story’ to his vision for the future of the cryptocurrency industry.

The past few weeks have been a tumultuous period of time, not only in the financial space but also in global societies. This has also been a time when new technologies have come to the fore in the fight against the coronavirus pandemic.

During the interview, Mr. Sim noted that digital technologies need to be the need of the hour as countries who do not take that path may be left behind.

China is currently leading in terms of technology like 5 G technology and will soon be launching its digital Yuan, Mr. Sim said. The former Huobi Global Operations Director first became fascinated by the idea of decentralization at Oklahoma City University. It was at uni that he leaned toward Punycode by involving himself with ‘T.com’ by the unicode / punyhcode of xnv6d.com. The Bitcoin Man was also generous enough to share his views of the industry and how far it had come since its inception. According to him:

“So much has changed over the years. When I first started off, it was difficult to get your hands on Bitcoin, there were no exchanges then. It was all OTC, and directly from miners per se. As a firm believer in Bitcoin then, all I could do back then from 2010-2013, was sitting on the sidelines, compiling research papers from an academic angle, in the hopes that as more people got access to the knowledge, then legitimacy and credibility will come too.”

Herbert Sim Bitcoin Man Profile Chinese 5

Herbert Sim also gave us a picture of his experience in the cryptocurrency industry when things went awry and the markets crashed. His main point of reference was the infamous Mt.Gox hack, which he recounted as:

“And then 2014 MT Gox happened, and the entire industry’s credibility crashed even further. At that time, I was hit very badly as well and switched my focus to another start-up I founded called, WardrobeTrendsFashion – High Fashion & Luxury online magazine, which was acquired in 2017. It was sometime in 2016, that I founded TheBitcoinMan.com, simply to house my digital illustration work of Cryptocurrency, and Blockchain. And eventually became known as the ‘Bitcoin Man’ to many within the industry.

The Bitcoin Man then talked about his latest venture, becoming part of the BeFaster team. He stated that there were many factors that led him to come on board, including the business idea, the market potential as well as the technology used. Mr. Sim did not fail to mention that another reason for his entry was the passion and drive he saw in the founders. He claimed BeFaster was literally going to be faster with plans in the pipeline to draw more investors.

The differences between the Fintech world of the East and the West were another main point of discussion. From 2013 to 2017, more than 80% of the world’s cryptocurrency trading volume came from China, with the crypto winter of 2018 redistributing some of that concentration to the west. Bitcoin Man has urged new members to join the industry and keep an eye out for regulation.

BeFaster Restarts Private Sale as Customer can Now Use TRX to Invest

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The cryptocurrency industry has been going through rapid changes over the past couple of years. Since the mainstream inception of the space more than a decade ago, several companies and organizations have tried to reach for the stars and create something new. BeFaster is one of the few companies that has been successful in this regard and it looks like they are nowhere near slowing down. 

A week after announcing to the world that BeFaster was joined by TheBitcoinMan, the organization has taken the next step to enrich the Tron ecosystem. According to the sources within the company, investors within the Tron community and Tron Europe will be able to contribute to BeFaster using the TRX token. For a company that has become synonymous with growth, this announcement was single-handedly set to change the course of the Tron ecosystem. 

BeFaster announced that the private sale, which started on 01.04, had to be ‘reinitiated’ on 15.04 due to the subsequent integration of TRX as an investment tool, as this required a change of provider.

BeFaster is a fitness application that works on the Tron blockchain and for the first time, customers will be able to earn money and get attractive bonuses, vouchers and discounts for their purchases while using the cryptocurrency to participate in the company’s private sale. The use of the TRX token is set to send shockwaves throughout the industry because of the impact it will have on trading volumes. 

Maximilian Jurtz, the Chief Financial Officer [CFO] of BeFaster had told Tron Weekly that giving users the chance to invest with TRX was a sign of a healthy ecosystem. According to him, the Tron community was very excited for the opportunity as it would reap dividends in the long run. The latest feature comes at a time when Mr Herbert Sim has decided to help the BeFaster team for its upcoming Maltese blockchain project. 

The global appeal of using a fitness application that earns for the user is certainly massive. As more and more people enter the fitness fray and use BeFaster, it also increases the adoption rate of Tron. With the latest announcement of the private sale, BeFaster users will play a crucial role in setting the height to which Tron’s popularity would rise. Experts in the industry have claimed that a cryptocurrency’s popularity only increases with its use case and it looks like the BeFaster team has taken it to heart. 

Irina Manilitch, the Chief Executive Officer [CEO] of BeFaster had said that Tron’s strong community and reach would create the perfect backdrop for fast developments. At the same time, Frank Schulze, BeFaster’s Chief Technical Officer [CTO] was also positive about the future of BeFaster integrations. Looks like BeFaster practices what they preach. 

Herbert Sim, The BitcoinMan aligned with BeFaster’s mission to blur the line between cryptocurrency products and mainstream commodities. Giving investors the option to work with TRX tokens was the first step in that direction. While joining the BeFaster team, The BitcoinMan had said:

“This [BeFaster’s] unique ‘RUN for CASH’ system, couple with a passionate driven team of co-founders, will create a revolution across the world, especially with health enthusiasts, and to promote healthy living and lifestyle.The app’s use of blockchain technology is a great example for businesses to emulate – transparency, without compromising on privacy. And the digital currency use-case is also plentiful, to participation in public and private challenges, to e-Commerce, and even in-app games to be launched after.”

BeFaster Continues its climb as The BitcoinMan Comes on Board to Boost Global Adoption

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BeFaster has become a name synonymous with updates and developments in the cryptocurrency field. This sentiment arises from a belief held by the BeFaster team: do not stop until the virtual asset industry becomes indistinguishable from fiat. To ensure that the application continues on its upward trajectory, BeFaster has decided to bring on a highly influential cryptocurrency personality.

Just recently, BeFaster announced that Herbert Sim, more commonly known as ‘The Bitcoin Man’ had joined its fold as an investor and advisor. Mr.Sim will lend his expertise and help to the BeFaster team for its upcoming Maltese blockchain project. 

BeFaster is a fitness application that works on the Tron blockchain. What stands out for users the most is the ability for them to earn cryptocurrencies while they use the application and work out. The arrival of Bitcoin Man into the BeFaster ecosystem was appreciated on social media as many saw his penchant for the application. Mr. Sim became popular for his marketing skills in the cryptocurrency space as well as holding the post of Global Operations Director at Huobi. 

The Bitcoin Man praised BeFaster’s initiative to utilize blockchain technology and find a use case that benefits society. BeFaster’s tag-line reads “Be Fit. Be Fast. Get Paid”, three steps that do not sound complicated at all. The application’s ingenuity lies in the fact that users are able to draw the power of blockchain technology by using it like any other application out there.

Befaster

BeFaster connects users who are interested in sport and health with those who want to become one with BePartners. They can then divulge into the world of health & care, sport and wellness. 

The company’s officials make it clear that the mission with their project is to blur the line between crypto products and others. Maximilian Jurtz, the Chief Financial Officer [CFO] of BeFaster told Tron Weekly that they want to compete with fitness products across all industries and not just within the digital assets world.

The BeFaster team, which includes Irina Manilitsch, CEO and Frank Schulze, CTO were confident that Herbert Sim’s experience would ‘fuel’ the application to run faster. 

 The Bitcoin Man, on his part, said:

“This [BeFaster’s] unique ‘RUN for CASH’ system, couple with a passionate driven team of co-founders, will create a revolution across the world, especially with health enthusiasts, and to promote healthy living and lifestyle.The app’s use of blockchain technology is a great example for businesses to emulate – transparency, without compromising on privacy. And the digital currency use-case is also plentiful, to participation in public and private challenges, to e-Commerce, and even in-app games to be launched after.”

Herbert Sim will be tasked with handling the marketing aspects of the ongoing BeFaster private sale as well as its associated worldwide marketing. The BeFaster officials will be banking on Sim’s ability to target the required audience and bring them towards the product.

The BitcoinMan’s influence in the cryptocurrency field can also be connected to him establishing the Crypto Chain University [CCU]. The CCU is the world’s first repository that will benefit people who want to create blockchain or cryptocurrency research papers. 

BeFaster also has its own holder coin that will allow users to reap almost 50 percent of all profits. Anyone who has invested in the BeInvestor project will also be eligible to receive BeFasterHolderToken [BFCH]. The company has reiterated several times that since all processes occur on the blockchain, settlement times were drastically reduced.