Cryptocurrencies have become a very efficient and widely recognized investment option. People from across the world are increasingly becoming interested in them. However, it was discovered in a lot of instances that where on the one hand the users of cryptocurrencies were able to gain a lot of value for their money virtually, they were often faced with difficulties while ultimately redeeming this value on the other.
The problems range from getting registered on several local exchanges which take a lot of time to the high brokerage charged by the traditional exchange platforms which render the whole process cumbersome and expensive.
The point of the sale system again is largely problematic. Many of the platforms provide their wallets, cards and other payment options yet eventually there are very few real applications of these systems where the user is actually able to use his crypto assets to buy things from a retail store or for some other form of payment or to withdraw a part of their assets as fiat.
Paymaz’s Coin Convert - Rendering crypto conversions easy
The Paymaz platform offers significant advantages in this respect. Coin Convert is an easy-to-use feature on the Paymaz platform that allows users to exchange cryptocurrencies without the need for any account. They can possess any wallet they desire and still be able to exchange their cryptocurrencies for the ones they like.
The unique thing about Paymaz platform’s coin conversion feature is its use of the Coinnup Swift Swap (CSS) protocol that will allow trading from available pools or pairs. Using the Coin Convert feature, users can select any two cryptocurrencies to trade as well as a destination wallet. The underlying protocol layer will process the transactions and send the currency into any wallet that users will nominate at the time of the transaction
This would make the conversion extremely easy. Moreover, what this would allow is buying coins from among 150 top currencies directly through fiat added to the savings it would bring in at the time of conversion. We predict that this system will lead to savings at the time of conversions as high as 75% and time savings of around 300%.
While withdrawing funds in the form of fiat into a bank account, users often have to go through with converting the currency into BTC or ETH and then converting them into fiat and thus end up paying several hidden charges at different levels, even when the platform they had chosen had promised them a free conversion into fiat feature. At Paymaz with the use of the CSS protocol, such costs have been eliminated entirely. Paymaz charges a fixed transparent fee for all kinds of withdrawals into fiat. Coinnup even wants to establish relationships with several banks at regional levels so that the handling costs charged from the users of Paymaz is also reduced.
Added Advantages
Apart from these, the hassle of several registrations and verifications is reduced through the use of Paymaz ID central that will allow for creating a single account which can be used to access all the different services on the platform. In fact, the user can use his single C-key for all the services. Added to this is the Paymaz POS franchise, which will eventually allow its users to put their crypto assets to real-world uses for the first time. Like shopping through the Debit card or the wallet, directly without conversion into fiat.
Parting thoughts
Although some problems which existed in the traditional conversion platforms remain on Paymaz, yet as far as usability is concerned, Paymaz is the best in the industry which strives to reduce the intensity of the persisting problems. Therefore, by shifting to Paymaz you are entering a world of accessibility, where you can unleash the full potential of cryptocurrencies and blockchain technology. You can use the centralized platform to shop more easily, and invest more freely without being concerned about security and stability.
To know more about what Coinnup offers you can visit https://ico.coinnup.com/.
For more details, you can also download the whitepaper https://ico.coinnup.com/assets/pdf/whitepaper_cu.pdf
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