Letter from Cyclebit CEO Daniel Bessmert

4 min readOct 16, 2018

By Cyclebit CEO Daniel Bessmert

Dear Cyclebit Community,

As we start to make our plans into reality and demonstrate some live solutions, I would like to highlight some important milestones on our team’s work and talk about the nearest future for the Cyclebit.

I thought a lot on how to begin this letter, when it came to me that in fact Cyclebit is one of those projects made for everyone. So the word came to me: everyone.

Our solutions are meant to change the market of payments and people’s perception of crypto. It’s a game changer, as cryptocurrencies can now be used for simple and quick payments that we’re all used to and changing our lifestyles.

Our team and I’d like to start off with a big thank you for joining us, sharing values and supporting the big idea:

Crypto must be available to everyone.

Today there are plenty of ongoing talks around it and I think that what we do is the main way of development for crypto.

Any widespread payment solution starts with an affordable and simple infrastructure like one we’ve already built for fiat transactions. With our team having over 5 years of making the latest fintech accessible to companies and customers all over the world, I have the complete confidence in our success.

We had quite a number of breakthroughs and and each one was an opportunity to learn something more and a step made in the right direction. The list of tasks we have to complete is now very clear and apparent.

So, what lies ahead of us? Besides writing code and testing hardware, there are other important areas to focus on.

Partnership with various coin and token issuers. We’ve shown our ideas using Bitcoin and Bitcoin Cash, but there are tens more of major digital asset issuers. We would like to invite as many of them as possible, so Cyclebit system could support their currencies and make our solution truly widespread, available to any crypto owner.

That does not exhaust the list. We are getting in contact with wallet providers to make our solution truly universal and accessible for every crypto owner. We are also working on establishing partnership with various crypto exchanges to provide a fair and up-to-date conversion rates for every Cyclebit user.

Licenses that we need to operate in compliance with different legislatures. We are collaborating with several legal and compliance experts to determine the best course of action for our regulatory licenses. We’ve made a certain progress and our ideas become more and more viable from the point of view of the law.

And, as always — a lot of work and tests ahead of us.

We’ve already demonstrated the trial version of Cyclebit selling and accepting cryptocurrency at several events. It was well received by crypto gurus and enthusiasts alike. This strengthens our resolve and assures us that we are on the right track.

In October we start our first joint project with Nostrum café network. Soon you will be able to spend crypto in every one of 130 café s- all thanks to Cyclebit.

We are getting famous and several businesses and networks in Southeast Asia have contacted us. So right now, we are getting ready to launch crypto payments in food chains and stores on the other side of the continent.

I’d say that’s quite a progress for a project that have ‘surfaced’ a month ago.

Capability to sell and accept payments in crypto forms the core of our offer. With that 75% of our offer ready, we are refining management system and software for business. Together with Cyclebit mPOS devices, this will form a complete buy/spend cryptocurrency infrastructure, closing the cycle for retail.

There is a new Cyclebit hardware solution, reaching launch in a few weeks. Let us not spoil the surprise and just say that it is going to be much cheaper, lighter and simpler to operate than every device we’ve demonstrated so far. Of course, we’ll keep you updated on the course of development and you’ll be the first to see it working, so stay tuned.

We plan that would not be just our mPOS devices. In a very near future virtually any POS device would be able to become crypto-capable. Our coders are working on universal SDK that can make any POS terminal able to transact in crypto and testing API that will bring crypto payment capability to mobile/online stores.

Once again, thank you everyone for putting your faith in us and joining us on this amazing journey. I hope you will continue to support us, for this is just the beginning!




Sell and accept cryptocurrency anywhere. In-store, online or on-the-go.