Spectrocoin Review

Spectrocoin is an all-in service provider for bitcoin and altcoin users and investors. In addition to its function as a bitcoin wallet they also offer exchange services, a real plastic bitcoin debit card and a solution for bitcoin business owners to accept payment methods in their daily business activities. Spectrocoin combines technological reliability and a robust infrastructure to offer high quality bitcoin services to its customers.

About Spectrocoin
Spectrocoin, based in England, was founded in 2013. The company is headquartered at the Landsdowne Row in London, a prestigious address and not a virtual office. Since May 2015 they have started issuing bitcoin debit cards.

Although it is not possible to find out the two who can be the actual owners of Spectrocoin via the website, it can be found via LinkedIn that the bitcoin service provider has three owners, all three programmers from Lithuania.

Before Vyautas founded Karalevicus Spectrocoin he had several jobs as a financial analyst in the industry. Justas Dobilauskas is the Chief Technology Officer at the startup company and has more than 6 years experience as a software developer for web design companies. The third owner is Mantas Mockevicius who holds various degrees in international business (Master Business Administration etc.)

Spectrocoin services
Spectrocoin offers all kinds of services for anyone who wants to use bitcoin worldwide. They have a bitcoin e-wallet that can be directly upgraded with bitcoins purchased on their own exchange. The bitcoin debit card makes spending your bitcoins as easy as Euros, Dollar and British Pounds. The company also offers solutions for companies to accept bitcoin as a valid payment method. Besides, Spectrocoin offers an API, eCommerce plugins and the like for webshop and website owners.

The bitcoin debit card can be charged directly with bitcoin, Euros, Dollars, British Pounds or gold, so you do not first have to trade one currency for the other. The Visa plastic debit card can then be used at any ATM worldwide. The pass comes in three variants: USD, EUR and GBP. The plastic card and the virtual card can be used with any website and webshop that accept Visa. Business owners can also accept bitcoin payments and withdraw their monies with the card or transfer to a bank account via a credit card deposit. If you as a company really want to go 2.0, you can order a number of customized (so with company logo and all) Spectrocoin fit for internal and external use.

The Spectrocoin pass, unlike most other bitcoin debit cards, can be sent to almost every country in the world, including India and China and is also available to residents of the United States. Normal sending is free and you have the card within 3 weeks. If you need the card urgently, you can choose the expedited shipping option for an amount of 69 Euro. In this case you will receive the card within 4 to 5 days.

Spectrocoin also has a smartphone app, so you always have your crypto business on. The Spectrocoin wallet is available in Google Play, App Store and in the Windows Store. The service comes with two factor authorization (2FA) to log in. The verification process is well described on the Spectrocoin website. To verify your account completely, you must mail a copy of your passport or ID card to the company. Do not you want this? No problem, you can still use the services and the pass, only with lower limits.

You can charge the Spectrocoin card with a maximum of 10,000 Dollars at a time. Spectroin allows 2 ATM withdrawals per day, with a total amount of 2000 Dollars. There is no limit to spend in shops, restaurants and hotels. If you have fully verified your account, you can even put Paypal money on the card and vice versa. You can also use the card on casino and stock websites as deposit method.

If you prefer to remain anonymous, you can still use the services of Spectrocoin as mentioned above, however with some limitations. Unverified users can put a maximum of 2500 Dollars on the card, withdraw 200 Dollars at a time, with a maximum of 400 Dollars per day. The withdrawal limit at the ATM is from unverified users at 1000 Dollar. You can, however, spend unlimited amounts in shops, restaurants and hotels with the card.

The spectrocoin plastic bitcoin debit card costs 8 Euro to order and you pay 50 cents per virtual card. A monthly service fee of 1 Dollar per card will be charged. This amount will not be charged if your balance is 0, so there is no inactivity fee. If you put money on your card this is free if it comes from a Spectrocoin account. If not, it is used in the method. Bank deposits are free but credit card deposits are somewhat more expensive, up to 5%. If the card is emptied at a bitcoin address it costs 0.5% with a minimum of 1 Euro. So you can better empty your card at once if you want to do this, instead of doing several smaller transactions.

Recording with the spectrocoin pass is reasonably priced, compared with Neteller for example. Where Neteller asks 4 Euro per withdrawal, spectrocoin asks 2.50 Euro in Europe and 3.50 Euro outside Europe. There is also a 3% exchange rate fee if you want to make the payment in another currency. Always choose the card (Euro, Dollar or British Pound) in which you spend the most.

Spectrocoin offers live bitcoin rates on the website in 26 different currencies and also in pairs like gold / bitcoin and certain altcoins. The price used is acceptable, since it is equal to the price used on bitcoin exchanges (through offers and late prices).

The website and User Interface of Spectrocoin are in the same colors as onlinehandelen.com, namely blue and orange. A sleek design ensures that each user can easily go through the various tables and menu options. Personally, I think the website is very well designed and easy to understand. On my website Spectrocoin offers in my opinion sufficient information about its services but does not explain everything. The FAQ has no search function and the deadline for your verification process is not shown anywhere. You also can not find out 1,2,3 who are the owners of the website, but fortunately I found that above. All in all, this information is not really interesting either, especially in the cryptocurrency world. You can always contact the Hotline and email customer service department,

What I personally find important to note is that if you search through Google on Spectrocoin, you occasionally still encounter a negative experience of a user. You read that the company freezes accounts until identification procedures are run through and the like. If you ask me, it’s quite normal and I can assure you that if you google Neteller or Skrill you get hundreds of negative results. These are all people who have done something that simply can not.

Spectrocoin review conclusion
Spectrocoin offers a wide range of services for bitcoin and altcoin use. The bitcoin debit cards are available worldwide and the costs are lower than most counterparts. The website is clear and the customer service is at your service. Is Spectrocoin scam? No. It is just a method to convert your bitcoin and altcoin earnings into fiat money or vice versa and then to be able to pin this … Exactly what I was looking for and that is why I also have a Spectrocoin pass. I definitely recommend Spectrocoin and give the company in the sector bitcoin debit cards 8.5 / 10.

The reason that I give a 8.5 and is not 10 because you have to pay 1 Euro per virtual card per month, which I personally find something pricey. With other providers this is free. Anyway, if you do not need dozens of numbers to make purchases online (most of us absolutely do not) then this is something that can be overlooked. In short, really a must for the bitcoin and altcoin investor!

Overview and comparison of major cryptocurrencies

Bitcoin, Litecoin, cryptocurrencies, mining… It seems like these new words are popping up everywhere in recent months. In part, the cryptocurrency boom is due to the fact that historically they have shown much higher profitability than the traditional dollar or euro.

But there are actually a number of reasons why cryptocurrencies are so popular. They are safe, anonymous, and completely decentralized. Unlike conventional currencies, they are not controlled or regulated by any particular authority, and their flow is completely determined by market demand. They are also nearly impossible to forge, thanks to a highly complex code system that encrypts each transmission, providing complete anonymity and security for every user.

Although Bitcoin is practically the only cryptocurrency discussed most of the time, there are actually many different cryptocurrencies available (in fact, very many).

So let’s take a closer look at the major ones.

Bitcoin and Bitcoin Cash

Bitcoin is the digital currency that is stored in the unique payment system of the same name, where there is no controlling body and all participants are considered peers. Bitcoins can be used to make purchases and transfers if the recipient agrees to receive Bitcoin and is able to do so. The main idea behind

Bitcoin is complete decentralization: neither the central bank, nor the government, nor any other administrative organization can influence or control Bitcoin.

As for Bitcoin’s profitability, it is legendary.

This isn’t surprising – after all, a Bitcoin was sold for 0.003 dollars in the very beginning, and now it is traded at around USD 9000.

Bitcoin Cash is a new currency that emerged from a hard fork of the Bitcoin on August 1, 2017. It is a more scalable replication of the original blockchain with individual blocks increased to 8 MB.

The way a fork works is that instead of creating a new blockchain from scratch, the fork creates a duplicate blockchain with the same history.

What this actually means is that all owners of pre-fork Bitcoins are now owners of the same amount of Bitcoin Cash, since both cryptocurrencies had the same blockchain up until the moment of the fork.

Right after its release, Bitcoin Cash was worth about USD 700, but it stabilized in the USD 250-300 range in the following days.

Dash

Dash (“Digital Cash”) is a decentralized open payment system that uses an algorithm called Darksend to keep transactions anonymous. This currency has been renamed twice, from Darkcoin in 2015 and Xcoin in 2014.
It offers all the possibilities of Bitcoin, as well as instant and completely anonymous transactions through so-called Masternodes.
Masternodes mix up the transaction data to erase all of its tracks, and then get a percentage of the transaction value.
The main differences between Dash and Bitcoin are:

Transactions in Dash are anonymous.
Dash uses not one, but a combination of several cryptographic algorithms.
Mining Dash consumes less energy.

Decisions about the further development of the system are made collectively by all members of the Dash network through Decentralized Governance, instead of being decided by individual programmers.

The value of this cryptocurrency passed the $1 billion mark in May 2017.

Ethereum

Ethereum is a platform for creating decentralized online services based on a blockchain that uses smart contracts. It is implemented as a single decentralized virtual machine.
Developed by 19-year-old Vitalik Buterin, this cryptocurrency raised 18 million dollars in its ICO in August 2013 and was launched in July of 2015.
Unlike other cryptocurrencies, its creators do not limit the role of the Ether to payments, but offer it as a means for exchanging resources or registering transactions of assets using smart contracts. In particular, its developers have called the Ether a “crypto fuel” for smart contracts.
The Ethereum technology makes it possible to register any transactions with any assets using a blockchain-type distributed database of contracts, without resorting to traditional legal procedures. This possibility provides competition for the existing transaction registration system. According to The Economist magazine, the technology of “smart contracts” marks a new era in financial technologies.
Developers can issue tokens or units of their currency over a blockchain network.
In 2017, Ethereum grew by 4000% and became the second largest cryptocurrency after Bitcoin.
RIPPLE

Ripple is a distributed payment system that uses the same cryptocurrency (XRP) as the internal payment unit.

First of all, we need to clarify that Ripple is not a Bitcoin clone and Ripple technology is based on a completely different concept, called the “principle of trust”.

XRP is similar to BTC:

Ripple is divided out to a large number of decimal places.
It is also easily transmitted in electronic form and has high cryptographic stability.
It is interchangeable and homogeneous.

XRP also has advantages over BTC:

Transactions in the network are much faster.
Ripple has some intrinsic value, since it allows you to conduct transactions.
Ripple coins are deflationary, as they are destroyed by the network after the transaction is carried out, so the total number of XRPs decreases over time.

As of 2017, Ripple is ranked the fourth cryptocurrency in terms of market capitalization, second only to Bitcoin and Ephereum.

Litecoin

Litecoin is a peer-to-peer internet currency that includes nearly zero-cost payments to anywhere in the world.
Litecoin is a fork of Bitcoin, as they were the same cryptocurrency until 2011.
The emission of Litecoins, as with Bitcoins, is algorithmically limited. The maximum amount of Litecoins that will go into circulation is four times greater than the maximum number of Bitcoins (84 million versus 21).
The initial reward for each block is 50 Litecoins.
Litecoin blocks are formed 4 times faster than Bitcoin blocks. Their pace of emissions and compensations will be similar over time.
About 3/4 of all Litecoins will be generated in 2020.
Will cryptocurrencies be the new norm after 2017? It might be too early to judge. There is one thing we know for certain – cryptocurrencies are going to be on the minds of experts and ordinary people for a long time.
Don’t forget that the first real thing bought using Bitcoin was a pizza sold for 10,000 bitcoins. In 2009, the owner of a pizzeria decided to believe in the cryptocurrency and traded the pizza for a pittance.  This decision brought him at least $4,000,000 and set off a major financial revolution.
If you believe in the potential of cryptocurrency and blockchain technology, if you want to secure a place for yourself in a future where cryptocurrencies reign, and if you want to witness the origins of a new financial system, then it is best to invest now.
The best way to do this is on the IQ Option platform, which is one of the largest online exchanges in the world.

IQ Option offers its customers a wide range of cryptocurrency assets, a steadily growing number of available trading instruments, everything necessary for technical and fundamental analysis, a user-friendly interface, 24/7 customer support, lightning-fast credits and withdrawals of funds, and much, much more.

May you and your assets continue to grow!