Forget all of the headlines that you have seen lately. Bitcoin isn’t dead at the moment and the Luno startup is going to prove it. The obscure currency hit a high of nearly $20,000 in December and at that time everyone was talking about it. People even knew about those who had become Bitcoin millionaires as well, but when all of this came crashing back down to the $5000 mark everyone started to say that it was a waste of money and that it wasn’t going to get anywhere. Some people even went on to say that it was an internet experiment but this is not the case at all. Luno is a cryptocurrency wallet and they are based in London. They have announced that they have since reached their 2 millionth customer and now more and more people want to have a way that they can buy, store and even trade the currency. The currencies include Bitcoin and even Ethereum as well, so those who say that Bitcoin is dead are certainly not telling the truth. Marcus Swanepoel has told the world that Bitcoin has a lot of potential. They have also stated that it has a lot of noise around it and that this is only going to help its own cause. The problem is that people have to be careful with what they are doing with the currency because they want to keep people safe at the end of the day.
Of course, it’s important to know that encryption technologies are being used to tr and regulate the generation of units and even the currency. They are also looking to make sure that any transferred funds are monitored and this is all done independently when compared to a central bank. Fiat currency such as dollars and even pounds are being backed by a central service but this is the complete opposite when compared to cryptocurrency. Swanepoel started out their work in finance and they worked in investment banking until they had made the decision to move to the one and only Silicon Valley. They happened to do this in 2013 and they launched their tech start-up ever since. They have stated that they have been building computers since they were young and they have been writing software as well. They believe that this is a great way for them to get back to their original roots.
The move that happened five years ago certainly coincided with the topics such as Bitcoin, Blockchain and even Fintech as well. They believe that this is the absolute perfect way for them to merge the passions that they had. Even though there are headlines that happen all of the time stating that Bitcoin is dead, Swanepoel thinks that they are at the tip of the iceberg when you look at the potential of what it has to offer. There is an ever-growing interest in technology but it appears that this depends on where you are in the world. London really is the financial capital of the world but when you look at blockchain and even cryptocurrency in general, you will find that they aren’t that big at all. If you go to countries such as San Francisco, New York, Shanghai and more, you will see that people are out of their minds. You get a completely different perspective and experience, and there are always people who want to score the next big thing.
If interest is going to change in terms of global technology then the companies that are in the crypto space really need to learn how to deal with two topics. You have education and security. One of the main benefits and focuses of Luno is that it helps to educate people about cryptocurrency and this ultimately leads to empowerment. When this is achieved, people can then start to see things differently. This currency isn’t just for those who have an interest in technology. Interest in the products that Luno has to offer really does come from everything. Securities, at the end of the day really does go hand-in-hand with education. For that reason, Luno has to really make sure that their customers are able to both understand and even feel comfortable with the money that they have. They will also feel way more secure when they are able to store the currency they have in their wallets. This is one of the many reasons why this company tries to make sure that they are able to provide bank-grade security and they even have cold vaults available as well.
This is where private keys from the currency are downloaded and when this is done, they are then stored in an environment that is completely offline. This means that the coins themselves are safe from hackers. One of the biggest flaws of Bitcoin is that it is meant to be an online currency and this means that it can be hacked. Luno work to make sure that any physical access is limited and they also have a procedure as well. This means that one person is not able to go in and get the currency out because you have to have more than one key, with more than one process with more than one person to try and access the vault. Sure this may sound complicated, but these steps really are required if people are to ever have some level of confidence in what Luno has to offer. Swanepoel has stated that if Luno wants to grow even further then it has to try and continue to improve their overall user experience. The whole thing, at the end of the day, is a completely educational experience.