Click here to close now.




















Welcome!

News Feed Item

Celery Launches to Bring Digital Currency Directly to Consumers

New Product Simplifies and Speeds Steps to First Coin Purchase for the Masses

NEW YORK, NY -- (Marketwired) -- 07/25/14 -- BTX Trader, the multi-exchange online trading system for digital currencies and wholly-owned subsidiary of WPCS International Inc. (NASDAQ: WPCS), announces the launch of Celery, its new web-based product committed to putting digital currency in the hands of hundreds of thousands of ordinary consumers.

Available from July 25th at http://www.gocelery.com, Celery is the simplest and fastest way for mainstream consumers to buy their first Bitcoins and Dogecoins. As the only product on the market that offers access to multiple types of digital currency the company employs direct bank transfers and the most straightforward user experience on the market.

Celery's mission is to grow digital currency usage beyond the first wave of sophisticated early financial adopters and encourage consumers to use digital currency - for spending with a burgeoning array of retailers, for saving as a long-term investment or simply for exploring the new world of online finance.

"Digital currency is more than a novelty," says Chief Operating Officer Ilya Subkhankulov. "Major merchants including Expedia and Newegg are validating the market, whilst increasing regulatory clarity is giving more confidence in the stability and value of the technology."

"However, as the process of acquiring their first coins remains too complex, most consumers are excluded from this revolution. Bitcoin-mining computers are too expensive for most users, while acquiring coins from an exchange requires initiating wire transfers and can take up to five days.

"Celery keeps things simple by using friendly language, only asking for basic sign-up information and using direct bank funding, meaning customers can use their first coins from their new Celery wallet dashboard within just three to four business days."

By simplifying digital currency, which, today, is not just costly but knowledge-intensive, Celery aims to broaden adoption of currencies like Bitcoin and Dogecoin as mainstream standards which consumers use to buy goods, eliminate fees on international transfers or save for the future. The sign-up process takes as little as 5 minutes, and once bank verification is complete, users can have access to digital currency orders in a matter of minutes.

According to a GFK survey for TheStreet, thirty-two percent of those aged 18 to 24 say they would consider using alternative currencies like Bitcoin, suggesting growing demand for the new technologies.

Celery's competition allows customers to buy digital currencies, but imposes various limitations requiring new users to jump through administrative hoops and initiate bank transfers. These barriers mean that they cannot obtain their coins for five days. Celery believes speeding the process is a competitive advantage that will help drive take-up.

More than 90 percent of all Celery's client funds are held in cold storage, detached from the Internet, while Celery also encrypts all personal information. Security is a top priority for the BTX Trader team, who also uses its status to bring unprecedented trading access to users.

"We have had a great response to BTX Trader since launching in April," says Co-founder and Chief Technology Officer Divya Thakur. "The platform has accumulated 6,000 users, 1% of which actively log into the platform regularly to monitor the market and place trades with Bitcoin exchanges.

"We are convinced great times are ahead for cryptocurrencies, but only if adoption can grow beyond experienced financial technology enthusiasts. That's why we are launching Celery to ensure everyone can participate in the digital currency revolution."

About BTX Trader:

Ilya Subkhankulov and Divya Thakur are financial technology architects who met whilst helping to build the REDI financial trading platform, co-owned by Goldman Sachs and Bank Of America.

BTX Trader allows users already familiar with the bitcoin environment to trade across the four major digital currency exchanges in real-time. Offering advanced trading controls, the platform allows users to trade digital currencies using a familiar interface, just like established commodities.

Celery will initially be available exclusively to customers in the United States.

BTX Trader is a wholly-owned subsidiary of WPCS International Inc. (NASDAQ: WPCS), a diversified, publicly-listed holding company which has invested in BTX Trader as an innovation incubator to spearhead its digital future.

About WPCS International Incorporated:

WPCS operates in two business segments including: (1) providing communications infrastructure contracting services to the public services, healthcare, energy and corporate enterprise markets worldwide; and (2) developing a Bitcoin trading platform. For more information, please visit www.wpcs.com and www.btxtrader.com.

Statements about the company's future expectations, including future revenue and earnings and all other statements in this press release, other than historical facts, are "forward looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward-looking statements.

Media Contact:
Andrea Collins
Clarity PR
Email Contact
Phone: 646-450-6477

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Learn how you can use the CoSN SEND II Decision Tree for Education Technology to make sure that your K–12 technology initiatives create a more engaging learning experience that empowers students, teachers, and administrators alike.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his session at 17th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Partnerships at Com...
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...