BINCOIN: A Decentralized Payment System

Blockchain technology came into existence to disrupt the the world system from a centralized form of functioning to a decentralized system. Its impacts has been felt in many sectors including the financial sector. Before this technology came into existence, the traditional payment system have not been effective and it is directly or indirectly affecting people's business. There are a lot of challenges facing the traditional and banking payment system which needs to be address. A platform called BinCoin has came up with a project to build a better and effective payment gateway and subsequently solve the challenges the traditional payment gateway are encountering.

INTRODUCING BINCOIN

BinCoin is blockchain-based decentralized payment system to process a digital currencies. BinCoin is a decentralized banking network that function without the intervention of any entity, but rather runs on an automated system. The BinCoin payment system was created to meet up with the demand of the cashless world and to speed up the payment time without any restrictions.

WHY BINCOIN?

The traditional payment system are control by an entity or government depending on your country. The body controlling the system do place orders and regulation on how to use it. They are restricted to process a certain amount of money per day which is not favourable to a good business person. Furthermore, the traditional payment system do charge users some fees because there is always involvement of third party. The worst part of the traditional payment system is that the entire system is operating from a single servers and once this serve got congested, the payment delivery become slower.

HERE COMES THE REVOLUTION

BinCoin is a payment gateway that permits users to make payment without the consent of third party nor restrictions and it will operated on a network that can process a transaction faster.

BINCOIN TOKEN ECONOMY

The BinCoin platform has a native coin that stands as the fuel driving the platform. The BinCoin coin was built on CryptoNote protocol and the coin could be used for many purposes. The BinCoin coin is like an investment opportunity for the wise one because the project and the coin has a lot of prospective with assured profits in due time. The BinCoin will have a exchange feature where people could trade the BinCoin coin and exchange it for anonymity coin or fiat.

PRODUCTS OF BINCOIN PLATFORM

There will be an avenue for peer to peer lending in the BinCoin platform. Users will be able to lend and loan money to each other.
The BinCoin system can be connected to merchant gateway. This means people with online stores can connect the BinCoin infrastructure as the means of payment gateway.
There is debit cards for withdrawing of money or other uses at the sale point.

There is an exchange and a wallet into BinCoin platform. The exchange will be used for trading of BinCoin coin and other cryptocurrencies while the wallet will be used for storing of cryptocurrency.

You can download the wallet here:

Android Wallet: https://play.google.com/store/apps/details?id=com.bincoin

IOS Wallet: https://itunes.apple.com/us/app/bin-coin/id1455963307?ls=1&mt=8

BIN Pay Chat

This is a components in the BinCoin platform that permits users to interact and do transaction within themselves right from their mobile conversations. With the Bin Pay Chat, a user can be chatting with his friends and family and same time sending or receiving BinCoin coin from each other

IN CONCLUSION

There are so many reasons why we must all embrace the BinCoin payment system which are:

The BinCoin payment system will permits you to process money right from your position
The BinCoin payment system is very secured payment system and very quick for processing money.
Users of the BinCoin payment gateway does not pay transaction fees since third party is not involve.