Singapore Prepares to Use Bitcoin Banknotes | Token Spoken
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Singapore Prepares to Use Bitcoin Banknotes

Tangem, a crypto hardware wallet company, began pilot sales of Bitcoin banknotes on the Singapore market.

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Tangem plans to produce millions of banknotes by the end of the year, aiming to make more physical transactions by making the newcomer customers in cryptocurrency use more cryptocurrencies. Singapore, known as a country that supports cryptocurrency and blockchain technology, can purchase these banknotes from Suntec City branch of Megafash, a design store chain.

This money, which is designated as a smart banknote, will be in the form of a S3D350A-coded chip produced by Samsung, and will be able to store data, as opposed to paper.

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While Tangem is known as the first market storage provider to prepare all electronics and cryptography in accordance with safety standards, it is not possible to make copies of these products according to the company. According to Tangem also; these banknotes are radically improving the simplicity and security of cryptocurrency monetization, ownership and circulation for users. In addition, the fact that they are not subject to any transfer fees gives a serious advantage to the user compared to the online payments.

Tangem, with headquarters in Zug, with offices in Hong Kong and Singapore, is also working in Taiwan, Russia and Israel on these fields. For now, these smart bills, which are offered for sale at values of 0.01 and 0.05 Bitcoin, are waiting for their owners to be bought.

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