The world of cryptocurrency is ever changing and new innovations are been made on a daily basis. With the cryptocurrencies gaining popularity, new cryptocurrencies enter the market with solutions for prevailing issues. One such entity that came into the picture is privacy coin. Privacy coins are an advancement on the traditional cryptocurrencies and have been gaining substantial interest in the crypto world.
Some of the key issues faced by the crypto world are privacy, liquidity, and usability. Though the value of cryptocurrencies soars up every now and then, their practical use on a daily basis is very limited. This paved way for the inclusion of utility debit cards that can be used with the cryptocurrencies in exchange for fiat currencies.
This helped in solving the liquidity issue. These debit cards ensured that cryptocurrencies can be spent for any common duties. Also, these debit cards are used to carry virtual currencies which offer more security than a normal debit card.
With the increased usage of cryptocurrencies which use distributed ledger, the users are under a privacy threat. In order to overcome this issue, as mentioned earlier, privacy coins were launched. These coins are completely secure in such a way that the wallet addresses cannot be known by parties who are not a part of a particular transaction. Also, the exact amount spent is also masked which makes it impossible to identify the “larger holders” of a cryptocurrency.
The trading, buying, and selling of cryptocurrencies happens in an exchange system, which is usually decentralized for cryptocurrencies. However, decentralized exchanges have many drawbacks which were addressed by an innovative concept called hybrid exchanges.
Combining these three components would make lives better for every cryptocurrency user. BELDEX, a new cryptocurrency ecosystem has emerged with the sole purpose of resolving these aforementioned issues. To know more about BELDEX coin, hybrid exchange system and utility debit card which makes the primary components of BELDEX ecosystem.