Coinify adds new digital currencies to its portfolio

Following this move, Coinify will process payments in 16 digital currencies including Bitcoin. Lasse Birk, chief product officer at Coinify, explained that Ether is the native currency of the Ethereum project and used to pay for computational operations on that network, such as smart contracts. Ether trades on digital currency exchanges at between 60- and 70-cents at present. Birk also mentioned that at moment the people who might pay for things with Ether outside of Ethereum contracts, would be tech-savvy and the goods would probably be IT-related.

Other interesting additions includes Tether USD, which was previously called Realcoin and which is pegged on-to-one with USD. Tether USD maintains a record of its USD-based reserves, all held in conservative investments, and will subject that record to the blockchains authenticating system.

The coins will be introduced or removed from circulation depending on whether USD are being added or redeemed.