The ForumPay Blog

FROM CRYPTO TO CASH
AND EVERYTHING IN BETWEEN

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Interview With Cory From Flower Power Botanicals

We recently had the pleasure to sit down with Cory Mitchell from Flower Power Botanicals to discuss his views on cryptocurrency in regards to the rise of the marijuana industry in the USA. Both the cryptocurrency and marijuana worlds continue to receive backlash due to the reputations both have received from hostile perspectives through media and uneducated markets. When Flower Power Botanicals decided to implement ForumPay into its business we knew the insight Cory could provide would unveil the benefits both marijuana and crypto payments can truly bring to the future of both industries – and he delivered! Find out more from our interview below!

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Exploring Digital Transactions

Sending, spending, and receiving crypto is becoming more common by the day, but what happens to a crypto transaction from the time you click send to the time it is received on the other end? Let’s explore how a transaction travels through a blockchain from start to finish.

Sending funds via blockchain networks almost seems second nature and you might be surprised by the journey your crypto takes from one end to another. For a transaction to be completed it needs to go through a three-step process: signing, broadcasting, and confirming.

blockchain
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The Blockchain Explained

If you have spent enough time diving into all things digital currency, then it’s likely you’ve come across the term “blockchain” more times than you can count – but what exactly is a blockchain? Let’s take a look at the ins and outs of blockchain technology to see just how it works and how safe it truly is.

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Back to Bitcoin Basics: “We Are All Satoshi”

Just last week in Budapest, Hungary a statue in honor of Bitcoin creator, Satoshi Nakamoto was exhibited in Graphisoft Park.

Following the mantra “we are all Satoshi”, sculptors Gergely Réka and Tomás Gilly paid tribute to the anonymous developer[s] by making Satoshi’s face reflective; those who see their reflection on the “faceless super coder” are reminded of the important part they also play in Bitcoin, which may bring some to wonder – what part is that, exactly? 

token vs crypto
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Tokens Explained

When exploring the crypto realm there is no doubt you’ve heard of tokens – and yes, you might be inclined to reminisce about arcade token days, and you are not wrong to do so. They essentially run on the same idea – and although cashing out those winnings for a giant teddy bear was once the gold standard- digital tokens are represented by data and can be applied and used for a plethora of crypto-based or asset-based services making way for more interesting rewards. 

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What are Stablecoins?

Bitcoin remains the leading cryptocurrency in 2021 with a total market capitalization of nearly a trillion dollars, and although that is the case, the top traded digital asset by volume is a stablecoin. You may have heard of stablecoins such as Tether, Gemini Dollar, TrueUSD, DiamDexx, and USDC, but what exactly are they? Are they considered cryptocurrency? Does the value of stablecoins fluctuate and how do they work?

Bitcoin Payment Gateway
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How Will a Bitcoin Payment Gateway Help Your Business?

Nearly 2,500 US business owners currently accept Bitcoin, a figure that does not include Bitcoin ATMs. Worldwide, an increasing number of companies choose cryptocurrencies for operational, transactional, and investment purposes. This data illustrates why you need a clear understanding of what a Bitcoin payment gateway can do for your brand.

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Getting Paid in Bitcoin: How Common Will It Become?

When debating whether you should sign up to a cryptocurrency payment gateway and start to accept Bitcoin payments, you might wonder whether it’s worth it in the long run. Will people keep paying with crypto in the future, and will it become mainstream? Let’s have a look at how many customers currently use this payment method, whether this number will increase, and how getting paid in Bitcoin could benefit your business. 

gaming and crypto payments
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How Crypto is Evolving the Gaming Industry

Cryptocurrency is thought of by many as an investment opportunity, in large part because its wild price swings represent opportunities for gains (as well as risks for losses). CNBC noted recently that bitcoin reached an all-time high (around $65,000) in April, only to close out the first half of the year down 47% from that record. This kind of high-value volatility will always draw a crowd of investors.

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Who Accepts Cryptocurrency? After This Last Year, the Number Is Rising

Is cryptocurrency the wave of the future or just a dot-com bubble waiting to pop? Time will tell, but there is good evidence that cryptocurrency will only get more popular and widely used in the months and years to come. Citibank believes that Bitcoin’s numerous advantages are bringing it to a “tipping point” into the mainstream. It is undeniable that in spite of–or even because of–the issues of the last year, the list of who accepts cryptocurrency is expanding by leaps and bounds.

Bitcoin started creeping slowly but steadily into the mainstream since its debut in 2008. Once considered far too volatile an investment for traditional banks to take a risk on, JPMorgan took on cryptocurrency customers as of May 2020 and has been banking digital securities firm TokenSoft since 2017. It doesn’t hurt that several big names have endorsed or praised cryptocurrency, including Bill Gates of Microsoft, Elon Musk of Tesla and SpaceX, actress Gwyneth Paltrow, and rapper Snoop Dogg.