Here's Where American Security Resources Corporation (OTCMKTS:ARSC) Fits Into The Bitcoin Space

Over the last few months, we've been trying to make sure that our readers stay on top of one of the most rewarding spaces this year – the cryptocurrency space. Just as one might expect when a space sets on fire like this one has this year, a myriad of new entrants is jumping on to the bandwagon and as each joins the fray we've teed it up and put forward our assessment of the entity in question.The latest company to show up on our radar is American Security Resources Corporation (OTCMKTS:ARSC). Forget that name from here on out, though. As of August 1, officially changed its name to Bitcoin Crypto Currency Exchange Corporation. The name change comes as the company, and we're quoting direct from the press release here, prepares to enter the booming Crypto currency markets.So that's the link – what has Bitcoin Crypto Currency Exchange actually done to reinforce this name change? Well, take a look at this link. For those that don't want to, it's a website for something called BitcoinMWallet, which is reportedly designed as an application (iOS and Android) through which people can buy, sell and trade various cryptocurrencies. The website is operated by an entity called Prometheus, which also created something called KachingPay. On August 8, Bitcoin Crypto Currency Exchange announced that it had acquired KachingPay in a cash and stock deal, so it looks as though Prometheus (which according to the website linked to above is a two decade old software company based out of Toronto) and Bitcoin Crypto Currency Exchange are working in tandem or are one and the same – exactly how the two tie in remains to be seen.Anyway, the idea looks like it’s the app is going to have a digital currency exchange type backend through which users can trade and store currency and a KachingPay front end. KachingPay is apparently a transaction system through which customers and retailers can do business using a token like system.All this sounds great, but in terms of substance, there's not an awful lot to go on right now as far as what we can use to create long term bias on the stock. The buy trade and sell functionality could be a winner, but this company is far from the only one pushing this sort of application. Where KachingPay fits into the whole thing is a bit confusing.Luckily for this company, however, we're not that devoted to creating a long term thesis on the stock. There's a lot of buzzwords in play here (the new name alone is a mish mash of keywords in the crypto space right now) and there's a good chance that Bitcoin Crypto Currency Exchange Corporation can pick up some near term strength based on its positioning itself as a publicly traded bitcoin company as per the latest pivot.Mid-July, the company was trading for less than $0.40 a piece. It hit three dollars a share this week on nothing but the above-discussed pivot and acquisition. People are looking for stocks that give them an exposure to the bitcoin space, and specifically the dramatic rise in the price of bitcoin over the last few months, without having to buy and store bitcoin itself. There's still a considerable degree of barrier to acquisition for bitcoin and picking up these stocks is easier than buying the asset itself.Bitcoin is correcting a bit right now, but the long term direction is to the upside at there's a good chance that this company is set to track the former on its way up. As a long term play, then, we'd decline this one as is. That's not to say it's not got potential, just that it's tough to gauge that potential based on current information. As a short term allocation, however, there could be some real value in this one for a day trader.We will be updating our subscribers as soon as we know more. For the latest updates on ARSC, sign up below!Image courtesy of fdecomite via FlickrDisclosure: We have no position in ARSC and have not been compensated for this article.