What Nxt-ID, Inc (NXTD) Stock price has to do with Bitcoin (BTC)?

What is Nxt-ID, Inc (NXTD)

Nxt-ID, Inc (NXTD) provides healthcare technology products and services. Security and privacy, encryption, and data protection are all areas in which the Company has broad expertise. This involves the integration of smart devices with the network of different platforms.

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Why is it Moving up?

For the last month, Nxt-ID, Inc (NXTD) is up by 302.29% thanks to Bitcoin (BTC). The average shares trading hands each day is 20.48M, with average 10-day volume coming in at 34.32 million. NXTD’s high over the last year is $0.35 and the low is $0.35. Over the last two 52 weeks, the company is trading 275.47%, while the S&P 500 is trading 0.13%. The company’s enterprise value has gone from $23.76M to $27.05M quarter-over-quarter.

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Understanding NXTD Subsidiaries:

1. LogicMark

LogicMark was founded in 2006 and is leader in two way voice personal emergency response devices, and provides two way voice personal emergency response devices. With millions of satisfied customers, LogicMark products meet the needs of the ageing population, as well as individuals living alone. In today’s highly competitive PERS market, it provide their customers with innovative products that foster confidence in safety.  

2.  Fit Pay Inc

Fit Pay Inc., a proprietary technology platform that offers end-to-end solutions for biometric identification and authentication by device manufacturers involved in contactless payments, credential management, authentication and other secure services within the IoT ecosystem. We found this detail in 2019 press release and now

Fit Pay a wholly owned Subsidiary of NXT-ID (NXTD) was acquired by Garmin Ltd. (GRMN). Fit Pay Inc websites now redirects to garmin.com.

So what NXTD Stock has to do with Bitcoin (BTC) price?

NXTD offerings include MobileBio biometric solutions. WocketTM, part of the MobileBio suite, is a next-generation smart wallet designed to replace all your credit cards and none of these cards require a smart phone. Wherever credit cards are accepted, the Wocket works with your biometric stamp as its primary method of identification.

So having said that NXTD focuses heavily on mobile security, and cryptocurrencies that run on the blockchain are also designed to safeguard financial transactions and other contracts. Additionally, NXTD is on the cutting edge of mobile security and contributes to growing the cryptocurrency industry. The problem is that you can’t purchase cryptocurrency products and services at any store that you want. NXT-ID aims to change that with its expertise in data protection, encryption, and security.

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‎Therefore, there is a ripple effect between bitcoin going up in price and public companies getting involved with cryptocurrency increasing. Nxt-ID, Inc (NXTD) is becoming an increasingly important player in tackling crypto adoption challenges, that make NXTD stock an exciting investment.

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