BitWallet Challenges Perceptions of Businesses Using Bitcoin with John T. Perrone

Key Insights & Timestamps:

• [00:00]: Podcast begins
• [02:05]: The transaction that got Softeq into Bitcoin
• [06:46]: The origin story of BitWallet & comparing BitWallet vs Coinstar
• [18:23]: Gaming & casinos: the founding story of BitWallet.Bet
• [22:36]: Challenges in legality, financials and public perception of crypto
• [28:02]: Investors vs businesses: advice for getting into crypto
• [34:33]: The future of crypto & the significance of bankless transactions

Guest Spotlight:
John T. Perrone, CEO of BitWallet and BITWALLET.BET
John T. Perrone is a cryptocurrency expert and multi-time Founder and CEO. In 2017, with the assistance of Softeq, John founded BitWallet, a high-security cryptocurrency wallet and exchange for both individuals and businesses. Later, in 2024, John combined his love for crypto with his enjoyment of sports betting and founded BitWallet.Bet, a cryptocurrency sportsbook and casino.

Key Takeaways:

• John introduced Chris to Bitcoin through Softeq’s relationship with BitWallet. As Softeq was enlisted to help with the development of BitWallet’s app, John wanted to pay Chris using BitCoin and Chris was interested in the potential of cryptocurrency and found it worth the risk. Today, the value of the Bitcoin used in that purchase has multiplied exponentially and shows the importance of getting into Bitcoin and crypto at the right time to receive financial benefit.
• In the cryptocurrency industry, John has faced a variety of challenges, some legal and some relational. On the legal side, BitWallet works with multiple attorneys on maintaining legal compliance in all aspects of their business. However, the relations side can be a much tougher situation, as John explains that other cryptocurrency failures like FTX have left investors and customers with a negative perception of crypto as a whole and a lack of trust towards anyone working in it.
• As a cryptocurrency expert, John has advice for both investors and business owners looking to embrace Bitcoin and other cryptocurrencies in their portfolios and processes. For investors, John recommends diversifying your portfolio and including a percentage of Bitcoin investments. On the business side, John encourages more businesses to accept crypto transactions, as he believes customers will become incentivized to embrace a currency that has no credit card fees.
  
  

Resources Mentioned:
Checkout Hunton Andrews Kurth for proactive legal advice https://www.huntonak.com/
BitWallet | BitWallet.org, BitWallet.bet