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BitPay is the largest and fastest-growing crypto payment service provider. And what better way to get into the cryptocurrency ecosystem than to partner with BitPay. In an announcement, the US-based hotel chain Kessler Collection Partners with BitPay. They did so with an intention to start accepting crypto as payment. With that Kessler Collection has become the first luxury hotel chain to do so in the US. Kessler Collection is following the footsteps of many big entities. And is working in hand with BitPay to create a crypto-friendly ecosystem.

Which Crypto Coins will Kessler Accept?

Kessler Collection currently owns 8 luxury and corporate hotels all across the US. And with the help of BitPay, the chain is looking to accept multiple crypto payments. Due to the growing demand for cryptocurrency. It has already started accepting Bitcoin, Ethereum, Dogecoin, and many stable crypto coins. Kessler already started accepting payments via crypto coins on immediate measures.

How Customers will Pay to Kessler Collection?

Richard Kessler CEO of Kessler Group was the one who initiated this deal with BitPay. To accommodate the need for a crypto-friendly ecosystem, Kessler Collection has already started accepting payments via BitPay.

Properties of Beaver Creek, Charlotte, Savannah, and Augustine are using traditional card payment channels. Also, their invoices will contain links to pay in the email. BitPay will power these links and customers can pay bills via multiple cryptocurrencies. They will accept coins like BTC, ETH, DOGE, BCH. Along with that, you can also pay via fiat currencies like USDT, BUSD, etc.

More details about Kessler Collection

Kessler Collections has multiple artistically created monuments under its arsenal. It is one of the top-class hotel chains in the US. With properties in many posh areas, it is always an exciting experience to visit Kessler. It has hotels in Colorado, Georgia, Carolina, Alabama, and also Florida. All the hotels possess breath-taking infrastructures designed with beautiful artifacts. Some of its hotels date back to 1888 with beautiful antique designs.

What did officials have to say?

Richard Kessler, the chairman, and CEO of Kessler Collection. Choose a concept that leads the innovation force of the hospitality industry is a must, he said. Above all, he stated that crypto is going to generate even more acceptance in the coming days. And with BitPay we can offer our customers better payment solutions. He also added that this will help them reach more customers.

Cryptocurrencies provide cheaper and better payment solutions said the CCO of Bitpay. In addition, Sonny Singh added that bitcoin is even cheaper than credit card payments. And defy all international currency barriers. He acknowledged the willingness of Kessler in accepting this innovative approach. This will create a more convenient payment solution for customers, said the CCO of BitPay.

The CFO of Kessler said this will help them create a streamlined payment solution. He also said customers will no longer have to visit local currency exchanges. Furthermore, Fravy added crypto is cheaper than average cards acknowledging Sonny Singh’s comments.

Recently the US government officials revealed something out of the ordinary. They said that the government will offer Bitcoin in its upcoming auction. Usually, the General office auctions material goods. Like cars, storage containers, etc. But, its decision to auction BTC at this point came as a surprise to many.

Most of the time the US-based GSA auctions equipment that is in federal surplus to the public. The current bitcoin auction will occur in a week under lot number 4KQSC121105001. This auction states that bitcoin has already become more mainstream.

How much bitcoin will the Government auction?

The quantity of bitcoin they are auctioning is 0.7501 BTC. Its estimated value should be around $38,700. Although, the government denies to answer, from where they confiscated such bitcoin. Clearly, they have no use of it.

Though unbelievable, this is not the first time the Government is auctioning bitcoin. In fact, this quantity is not even close to the amount of bitcoin the US officials offered in public action. This dates back to 2014 when the US Marshals Service auctioned around 30K bitcoin. They seized ransomed bitcoin from the Silk Road market. With all that happening, many large entities are buying their stake in bitcoin. And the cryptocurrency is all set to break through newer barriers.

What was the valuation of the 2014 Auction?

When the US auctioned around 30,000 bitcoin, its estimated value was around $19 Million in 2014. Later, Trim Draper, a venture capitalist bought them, but the price was never disclosed. It is estimated that bitcoin would be roughly worth around $1.5 Billion as bitcoin skyrocketed to $51,000.

When will this auction occur?

Auctions where items like scientific equipment, heavy machinery, vehicles arrive. Bitcoin is certainly receiving a lot more interest from the public. As per the GSA’s official auction website, the auction will be in Atlanta, Georgia. Here bidders will bid their price and the one to bid highest is the winner. The bidding will start from 5 PM on 15th Mar and last until 48 hours. The starting amount will be around $25,000 as per sources.

The full payment for 0.7501 BTC will occur via wire transfer on or before 19th March. Once the auctions are complete the winner will receive all the bitcoins. This is after the clearance of all dues.

What are the requirements for Entering the Auction?

Below are the documents you need to present before entering the auction successfully:

• Forfeited Property Sales Certification Form:

This form is mandatory for all the appliers. As it reveals the nature of business you do. It also proves that you do not work for the Department, and also not the previous owner of those bitcoins.

• Bitcoin End-Use Certificate:

This is a mandatory criterion for the auction. In the form, you need to enter your name, bitcoin wallet details, your personal identity number, and other personal information.

Your participation in the auction is subject to successfully completing both of these forms.

If you are an amid investor or someone who likes to follow the operations in the financial sector. You must have heard about Cryptocurrencies. Although most of our readers know what is cryptocurrency. They fail to understand the true property of a cryptocurrency. So, in this article, we will take you on an in-depth deep dive into the world of cryptocurrencies. Reading this article will make you understand the true nature of cryptocurrencies. This will also help you in understanding why most HODLers believe in them.

What is a Currency?

Before diving into the crypto part let’s first understand what does a currency means. Before the rise of currency, people used the barter system as the medium of exchange. But as humanity evolved so did the demands. This made it harder to transact via the barter system. and led to the currency.

The currency is just a state-promised medium of exchange. There are many uses of currency. But the basic use is to exchange it for anything with an equivalent value. Governments issue currency in the form of paper or coin. Which the nation has to accept at its face value.

What is Cryptocurrency?

A Cryptocurrency offers similar fulfillments which occur virtually. What’s more, there are no mediators or regulators of cryptocurrency who can manipulate it. You can use it to transact online. It works on the framework of blockchain. Blockchain is one of the most flourishing decentralized technology of this era. It is across the internet on various devices to record and manage operations.

Properties of Cryptocurrency

Below are some of the basic properties of a cryptocurrency:

It is in-tangible

Although most of the previous currencies were tangible. Cryptocurrencies are 100% virtual and there is no physical form for them.

Decentralized

A primary reason for this rapid growth in the crypto market is its decentralized nature. This is what intrigued people to look for a currency that is not in control of the government.

Various Alternatives

The most famous crypto coin of all time is bitcoin. But, we have 5000+ alternative coins in the market. These crypto agencies solve one or the other drawbacks of each other. Which makes each of them very unique and different from the other.

Future-oriented

As the value of money is going down, there has to be something that offers similar value in the future as well. With cryptocurrency’s decentralized nature it is impossible to manipulate. Therefore, it is the best.

Fulfills Basic requirement of Money

There are in total 7 requirements that you will find in money. Which are as follows:

• Essential value
• Durable nature
• Transferable
• Rare
• Stable store of value
• Divisible
• Homogeneous

All these qualities are present in cryptocurrencies.

Highly Volatile in Value

A big reason why most people are afraid to invest in the crypto market is its volatility. Cryptos are highly fluctuating assets as they are not governed by any entity.

Negative Uses

There are various rumors that people are using cryptocurrency for false usage. This includes trafficking, terrorism, dealing in the black market, etc.

This is also one of a few dark properties of the crypto world.