Blog, Cryptocurrency

Bakkt for Bitcoin

If you have been keeping up to date of Bitcoin and cryptocurrency matters, the word Bakkt should ring a bell. Bakkt is a platform that enables cryptocurrency to be bought, sell, store and traded. It is backed by Intercontinental Exhanges (ICE) that operates the New York Stock Exchange (NYSE).

Its launch date has been delayed twice and now expected in 24 Jan 2019.

And why should Bitcoin enthusisast be excited?

  • Bakkt platform is regulated. This will set precedance for more regulated trading between fiat and Bitcoin, which would improve investors confidence
  • It provides wider participation, thus increases cryptocurrency’s liquidity. This will mitigate Bitcoin and Altcoins wild price volatility
  • Bakkt forms partnership with Microsoft and Starbucks. Bakkt is designed to utilize Microsoft cloud server and this will give Starbucks customers a way to convert Cryptocurrency to fiat.  It is a pivotal application that allows for trusted and secure payment for consumers. Thus, opening up the use of Cryotocurrency for wider application.
  • As a start, only Bitcoin will be traded.

Fancy to pay your Starbuck latte using Bitcoin? It’s coming soon!

Disclosure: I invested US$2,000 in Bitcoin and Bitcoin market price is S$ 3,600 when this article is written. Any information, commentary, recommendations or statements of opinion provided here are for general information purposes only. 

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