With 2017 barreling in and 2016 a fading memory, we wanted to take one last look back at our year and share with our members some of the memories we have. We learned new ways to connect with you and celebrated our ten year anniversary, which coincided with our member appreciation week. We saw tremendous growth with our valued merchants and loyal members, and we finished the year strong thanks to our fantastic group of dedicated employees!
Our Facebook Christmas Contest was a great experience, and a great way to learn about some of our members. We connected with many of you, and were able to help out some great people along the way. We want to do more things like this in the future! Lets see what some of our winners had to say.
Wow ! What a pleasant surprise, and I can only say with a grateful heart that God is good all the time, and all the time God is good! Thank you SolidTrust Pay for your prompt and efficient service, and for your heart to help everyone in need. Thank you also for the prize!
Best wishes and God Bless,
Thank you very much, this is a really nice Christmas gift and a really good feeling to donate something to World Vision that will help a mother and a baby in need.Best regards, Marry Christmas and Happy New Year,
We gave $500 to 5 randomly chosen members who signed up for the contest, and then we gave them $500 to purchase donation packages from World Vision. With our added contribution, we were able to fully stock two medical clinics, build and properly install two latrines, and send much needed food, baby care and school supplies to communities affected by poverty and war. Click the World Vision logo if you’re able to help as well.
We Started Working With Transpay!
We made a significant decision to partner with Transpay to offer our members an option that’s cheaper than a traditional wire and faster than an ACH. We released an extensive guide with a video tutorial for this option so that everybody will be able to take advantage of this exciting new way to pay!
On June 15, 2016, SolidTrust Pay became ten years old! We celebrated with a contest similar to our Facebook contest, and had more great chances to connect with our members. This was during our Member Appreciation Week, and we’re excited to do it again this year!
SolidTrust Pay Growth in 2016
In the last quarter of 2016, we saw an explosion of payment button requests from merchants and entrepreneurs looking to find the best payment processor for 2017. With so many merchant service requests, we saw our daily user signups double in Q4! This is why we value our merchants so much; it’s also what keeps our customer support, payments and verification staff working so hard to stay on top of it all! That being said, it’s you, our members, who we owe everything to. Thank you all!
We Rode the Bitcoin Roller-Coaster
We continued to allow users to deposit from their bitcoin wallets into their STP wallets, having their BTC converted to USD automatically and then having the option to spend, exchange or withdraw it directly into their bank accounts. We also continued to offer our payment button services to merchants who want to accept bitcoin directly on their websites. All this, in spite of the volatility of BTC towards the end of 2016, made for some pretty trying times!
We look forward to growing with the blockchain over 2017 though. Many of our members love the option to buy, exchange and withdraw bitcoin, so it’s not going anywhere any time soon!
Looking Toward the Future and 2017
Looking back, we’re nothing but happy and grateful for the year that we had. Looking into the future, we want to make sure we continue to grow as a company, but also as a community. Many of our merchants bring entire communities to our doorstep, and we would be remiss if we did not take the opportunity to join those communities, and also to build our own. Follow us on Facebook and Twitter @solidtrustpay to keep up with us!
In addition to major site updates to SolidtrustPay.com, we aim to reach out and connect more with both our existing members, and the industry at large. We have more chances to win cash prizes through Facebook and social media contests planned, updates to the site that will bring you closer to your digital wallet, and a few other surprises to that will keep SolidTrust Pay on the cutting edge of the online payment processing industry, and the preferred eWallet of millions of users worldwide!
Recent weeks have been reminiscent of the 2013-2014 Bitcoin explosion for many Bitcoin enthusiasts. Though it’s nothing like going from under $200 to over $1000 in just 2 months, the steady climb back to $1000+ has been encouraging. For many regular people around the world who have yet to use Bitcoin, recent weeks have been a swift introduction. In India alone, major Bitcoin exchanges such as Zebpay and Unocoin have reported a surge in user registration and trading volume since November, at least doubling registration and trading volume from previous months.
This is all coming off the heals of Indian Prime Minister Narendra Modi’s November 8th decision to withdraw all 500 – 1000 rupee notes from the Indian economy. With 86% of India’s in-circulation cash being made worthless overnight, it’s not surprising that people are quickly looking for alternatives to spend and store their hard-earned money.
In a recent article on the topic of India’s economy and Bitcoin, Forbes tells us that, “with India’s recent demonetization, the volume of bitcoins being traded there has substantially increased to nearly two times its prior levels”. Furthermore, “Data from the ministry of electronics and information technology shows that the number of daily transactions through e-wallet services . . . has shot up from 1.7 million — recorded on November 8 when demonetization was announced — to 6.3 million as of December 7.” That number has continued to rise into the new year, with no signs of slowing down!
Today however, Thursday, January 5th, the stability of Bitcoin was called into question when we got a bit of a surprise from CoinDesk’s Bitcoin Price Index (BPI). Bitcoin dropped by nearly $200 in just 1 hour, though it quickly began to recover. However, volatility such as this is part of the reason Bitcoin has struggled historically to go mainstream with consumers and investors.
CoinDesk released a statement regarding the unexpected dip in the BTC trading price. “Today’s price move raises the question of whether the rally that began last month will continue into the new year – or if we’re in for a repeat of 2013-2014, when bitcoin peaked and quickly fell.”
CoinDesk offered some additional perspective from Chinese bitcoin exchange Huobi, stating that “current trading volume is 37x of that in 2013 and bitcoin price fluctuates 15.95%, which is much more stable than the year 2013.” The Huobi rep goes on to explain that “in 2013, when the price was 8,000 yuan (around $1100), the weekly trading volume was 393,000 BTC, with an amplitude of the week up to 103%. The trading volume was very small. Today, bitcoin [prices] broke 8,000 yuan with 735m BTC trading volume, which is expected to double in a week.”
With all this excitement about Bitcoin, it’s easy to forget that there are plenty of other ways to spend, store and transfer money online. Digital wallets, phone apps and various UPIs have seen growth explosions in India since November 8th, and they’re following a global trend that has money going digital more and more each day.
We want nothing but the best for our members, especially when it comes to security! Please use the following guide to help you safely store and remember your passwords.
The image to the left should be pretty familiar to anyone who has ever had to login to anything. Most of us are used to seeing some form of this sign-in box for most of the websites we visit. But did you know that you are actually taking a fairly large risk each time you enter your password online? There are plenty of different ways an attacker could intercept your login details, such as decryption tools or key-loggers, and if you have a universal password (same password for everything), the attacker will instantly have access to all of your accounts! This could cost you time or money, or at the very least a headache! Prepared, diligent and proactive is the only way to be. That is why we are urging our users to start storing their passwords in a password management utility.
“KeePass is a free open source password manager, which helps you to manage your passwords in a secure way. You can put all your passwords in one database, which is locked with one master key or a key file. So you only have to remember one single master password or select the key file to unlock the whole database. The databases are encrypted using the best and most secure encryption algorithms currently known (AES and Twofish).”
– Description from KeePass’ official website
KeePass is free and open source, but it’s far from the only password management utility. Click here to see a list of PC Mag’s top 10 paid password managers of 2017, and click here to see the top 10 free password managers. Below are a few reasons to choose the program that best suits your needs and start using it right away.
Not only will using a program such as KeePass keep your passwords and login details safe from potential attackers, it will help you remember them for yourself as well!
You should NEVER use the same password for two different websites/accounts. KeePass can generate and store a brand new, entirely random password for you at the click of a button!
If you use the random password generator, you will never have to type your password onto your keyboard, making a key-logging attack completely useless.
Many password management tools can store additional information, such as full names and addresses, for automatic form-filling.
Secure credit card and banking information the same way you would a password and avoid typing them out into your browser.
When it comes to the eWallet/payment processing industry, it’s easy to see why we put so much emphasis on the security of our members. Wherever there is money, extra security will follow. We hope that you will take a few short minutes out of your day today to make sure that you are doing everything in your power to avoid the worst possible thing that could happen to you online! See below for instructions on downloading and using KeePass, as well as some additional resources for your security.
–> Go to http://www.keepass.info
–> Click on the latest release (found under ‘latest news’)
–> Click “download KeePass 1.32” (or whichever the current version is)
–> Click Classic Edition and then run the setup (this version is for Windows only. If you are using a different OS, please scroll down for other download options)
Additional KeePass Resources
We want to thank everybody who participated in our Christmas contest for 2016! We had a great response from our users and we are happy to announce the 5 winners of our draw! The winners will be contacted via email and tagged in a Facebook post. Winners are encouraged to respond to the email with their choices for which causes they would like to spend their donation money on. Once a response has been received, the winnings will be submitted into the SolidTrust Pay account of the winners! Thanks again to everybody who participated!
While we’re in the spirit of giving, we wanted to shine some light on the other side of our contest, and your chance to help someone in need! Please take a moment to read through the World Vision Gift Catalog and to think about which gifts you would give if you could. Even if you didn’t win this time, there are very moderately priced gifts to give that could help improve somebody’s life. Take a look at just a few of the options below and let us know in the comments which ones you feel are most important or valuable.