Global Digital Payment Launches a Bytus Wallet for Instant Conversion of Cryptocurrency to Fiat
Global Digital Payment, a digital solutions provider is launching the Bytus ecosystem to help in crypto conversions and faster transactions through contactless payment modules.
Digital assets are gradually dominating the financial scene one currency after another. Financial systems in various jurisdictions in the world have had to adjust their infrastructure and amend some of their laws to accommodate these new-age currencies. With that said, crypto still faces major hurdles in its general acceptability as a currency of choice in business transactions the world over. One of the main obstacles to this is the lack of convertibility to fiat. For this to happen, there is a need for a supportive infrastructure where the different elements come into play to ensure a seamless transition from the crypto world to the fiat world.
Bytus Wallet Bridges the Gap
The concept behind Bytus is to help bridge this gap and a set global platform that allows customers to make purchases from stores anywhere around the world using crypto. Founded in March 2018, this solution seeks to simplify the legalities and technical infrastructural issues that have often led to third parties charging high commissions to convert crypto to fiat.
The Bytus wallet is a mobile application that users install to access a convenient and safe contactless payment ecosystem. The flexibility of the digital wallet makes it easy for Bytus users to transact through payment terminals and via the internet by simply using a QR code. When the user activates the application, they are taken through a Know Your Customer (KYC) procedure. At this stage, they identify themselves on the network, generate a seed phrase from which they generate private and public keys. It is this phrase that enables a user to access the purse and transact.
The brain behind this innovation is none other than Altug Tatlisu. He is an accomplished blockchain developer and cybersecurity specialist. Leading a team of other developers, system analysts, digital marketers, and designers, Altug has delivered a software solution that will forever change the world of crypto.
In the development of the Bytus wallet, Altug was specifically responsible for design creation, coding, debugging, and testing. A lot of work also went into the system evaluation, to identify key performance indicators to help improve performance.
How Bytus Tokens and Wallet Works
Bytus incentivizes crypto users through Bytus tokens and the Bytus wallet. Users with other coins can purchase Bytus tokens which are then stored in a digital wallet. Whenever a customer wants to make a transaction, the payment is accomplished via smart contracts which are secure and convenient. With a large number of digital currencies available for use and conversion, Bytus opens a whole world of possibilities and enhances the liquidity of cryptocurrencies. The platform replaces Mastercard and Visa payment systems thereby eliminating the traditional hurdles to e-commerce. This new ecosystem promotes transparency in crypto dealings, maximum cooperation and compliance with authorities, the possibility and speed of increasing the number of currencies.