Chad Pankewitz sees an opportunity in the new digital currency opportunities provided by Bitcoin and fork, Namecoin. Bitcoin has been in the news lately and has focuses new attention on virtual fiat currencies. Chad’s background as the head of eBusiness for Citigroup Private Bank seems to be a good sign for his ability to lend credibility and security to the nascent currency platforms.
With its fast rise to mainstream type awareness, Bitcoin had some issues. The main trading platform MT Gox went down, people got accounts hacked and the general instability of Bitcoin valuations cause many people to wonder if it was done before it really got started.
Enter Ruxum: “Ruxum makes it dead simple to buy, sell and trade Bitcoin. We are dedicated to building the best, most secure and easiest to use multi-currency Bitcoin trading platform on the planet.
We are a small (but growing) multidisciplinary team of 16 and we bring both our passion and our experience to be able to build you the best solutions for virtual goods, both offline and online. In the past, we have built Internet banking, trading and other secure, complex and scalable solutions for fortune 500 companies on three continents.”
“Today, Ruxum is launching into private beta with a new exchange that will allow users to buy, sell and trade both Bitcoin and Namecoin. Namecoin, for those unfamiliar, is a fork of the Bitcoin project, which uses the P2P network to, instead, build a decentralized domain name system that is less vulnerable to downages. For more on Namecoin, click here.
Ruxum will accept real money deposits, with cash payments being made by bank or wire transfers from nearly anywhere in the world. Currently, USD, EUR, GBP and JPY are accepted currencies, with six more coming in the near future, according to the Ruxum founder. Payments to Bitcoin and Namecoin addresses can be made anytime via a user’s Ruxum account.”
Two factor authentication: ” Ruxum offers an optional two factor authentication security solution for your account. This means that you need your regular username/password combination + an additional unique authentication. If both are not provided, access to the account is denied.