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
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...
November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Penta Security is a leading vendor for data security solutions, including its encryption solution, D’Amo. By using FPE technology, D’Amo allows for the implementation of encryption technology to sensitive data fields without modification to schema in the database environment. With businesses having their data become increasingly more complicated in their mission-critical applications (such as ERP, CRM, HRM), continued ...
SYS-CON Events announced today that Enzu will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to focus on the core of their online busine...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
SYS-CON Events announced today that Cloudbric, a leading website security provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Cloudbric is an elite full service website protection solution specifically designed for IT novices, entrepreneurs, and small and medium businesses. First launched in 2015, Cloudbric is based on the enterprise level Web Application Firewall by Penta Security Sys...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
SYS-CON Events announced today that Coalfire will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Coalfire is the trusted leader in cybersecurity risk management and compliance services. Coalfire integrates advisory and technical assessments and recommendations to the corporate directors, executives, boards, and IT organizations for global brands and organizations in the technology, cloud, health...
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, will contrast how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He will show the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He will also have live demos of building immutable pipe...
SYS-CON Events announced today that Transparent Cloud Computing (T-Cloud) Consortium will exhibit at the 19th International Cloud Expo®, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The Transparent Cloud Computing Consortium (T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data proces...
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.