We talked about instant conversions and ease of payment in Bytus in the previous articles. It is time to talk about the goals that this payment portal has set for itself. To start with, the primary goal of this platform is to enable retail chains adapt cryptos as a feasible option. This would be a big change as crypto as a payment mode will succeed only when it can be used for day to day expenses.
Eliminating cards & all unsafe methods
The way Bytus eases the instant conversion cannot be done in any other manner. It eradicates the practice of plastic cards through the Bytus mobile service. It works as a contactless card and lets the users pay without punching in any information, making the transactions safer than ever. Therefore Bytus makes crypto payments even safer than it already is.
We all know that fiat transactions involve a large number of third party services and users’ information get shared on multiple platforms. Bytus’ aim is to prevent the users from sharing their information unnecessarily, it wants to create safer ecosystem which works through payment terminals as well as with QR code with instant conversion of cryptocurrency into fiat.
Watershed for crypto users
This would be a watershed in the history of cryptocurrency so far. No other payment portal brings cryptocurrency so close with the markets in such a feasible manner. It would be achieved with Bytus and through this platform, it would reach millions of users in no time. Bytus will be launching through an ICO and it would have its benefits for the investors like any other investment.
Bytus is a giant leap towards the future of cryptocurrency, it brings people closer to this technology with a convenient and profitable platform. To maintain safety, Bytus will implement KYC process into its platform, which means every new user will have to go through the mandatory process and then only he/she will be able to make transactions through this platform.
For merchants and users both
The allocation of tokens will be done through two separate channels. The receiving channel and the sending channel will serve as gateways for the registrars. Registrar is the user who first registers new accounts and is handed over the public key through which the transactions are carried out. One bytus token is freezed everytime a transaction is taken place using the public key and account name.
Bytus does a wonderful job in securing the information of its users and enabling them execute transactions seamlessly using crypto as well as fiat. This project is focused on making cryptocurrency a prominent mode of payment. It paves a way for the retailers and the entire market to get familiar with cryptocurrency and blockchain technology. Therefore, Bytus will encourage the merchants and users to adapt crypto payment as a preference over fiat.