Sibcoin is a Russia-based project developing the same-named cryptocurrency with market cap making $19,206,333, according to CoinMarketCap. At the press time the price of one Sibcoin is $1.28. It is worth mentioning, that the coin price is currently 8 times higher than 3 months ago ( then in constituted only $0.16). Originated in Siberia, the coin known in Russia as the “Siberian Сhervonets.”
The project is a DASH fork, employing additional encryption algorithms. As may be seen, the coin’s adoption has been growing rapidly ever since its first block was mined in 2015. April 2017 Sibcoin entered the adjacent domain of China and now the project’s official website has a Chinese language version, which opens the gate for a great number of China’s crypto-enthusiasts and professional traders.
Moneypolo is an international payments system which provides services to a number of busiest cryptocurrency exchanges, such as Exmo and BTC-e, for example.
Sibcoin’s team claims that the integration can solve the topical problem for cryptocurrency users concerning conversion of cryptocurrencies into fiat money. They also claim, that with Sibcoin integrated into Moneypolo’s system, it is possible to withdraw the currency either to a plastic card, or even transfer systems like WebMoney.
For context, presently withdrawing involves processing by both: cryptocurrency exchanges and currency converter services, which certainly takes some time, and may seem too complicated to an average user who can be hardly described as an expert in crypto-mechanisms.
It is also believed, that after the integration of the two systems, problems described may be solved, and thus become absolutely non-topical.
The integration, apart from everything else, makes Sibcoin one of few cryptocurrencies already connected to payment systems allowing to operate with crypto- and fiat currencies coincidently.
“Integration of Sibcoin in Moneypolo can offer a radical solution to the problem of withdrawals. With a card issued by Moneypolo, withdrawals will become easy for miners, store owners, freelancers, and virtually everyone who deals with remote jobs and payments. In fact, once you earn Sibcoin, you can go to a brick and mortar store with that card, and buy whatever you could buy with your usual card,” stated Ivan Rublev, founder and CEO of Sibcoin.
In order to make cryptocurrencies closer to people, as the Sibcoin team’s ultimate goal states, the project has introduced several solutions over the recent months.
For example, in June the company released Perevod.io, a decentralized service for international money remittances, which allows its users to easily exchange fiat money via Sibcoin-supporting third party exchange services without any specific knowledge of digital currencies .
Also, users are not required to have awareness of the virtual currency as the funds are paid out in local fiat currency, in other words, the service makes cryptocurrency itself invisible for the recipient, so they don’t have to be aware of cryptotechnologies to enjoy all the advantages.