Bitcoin payment gateway, Cryptopay just added a mobile app to its growing number of existing resources as it plans to launch an ICO based on requests from users who are interested in investing into the already viable company.
The payment gateway which has been in existence since 2013 provides Bitcoin wallets, debit cards and innovative merchant processing solutions, thereby enabling easy purchase, storing and sending of Bitcoins all over the world.
Bitcoin market accessibility
Accessibility into the Bitcoin ecosystem has been one of the major obstacles behind the delayed mainstream adoption of the cryptocurrency. Where to buy, sell or exchange Bitcoin with fiat remains a missing link to majority of those seeking entry into the crypto space. Merchants who may consider adopting Bitcoin as a mode of payment for easy transactions are also stuck between receiving Bitcoins and converting to fiat.
Hedging against volatility
Due to the relatively low trade volume and market capitalization, it is very common to experience significant volatility in the price of Bitcoin at the instance of any news or development within the community. In such cases, Bitcoin could experience as much as several hundreds of dollars change in price over short periods. These fluctuations have become reasons for the reluctant application of the cryptocurrency by many.
To hedge against such disparity in price, Cryptopay offers 3 FLEX accounts in EUR, GBP, USD thereby making it easy for users to hedge their Bitcoins against major currencies for security and assurance.
Cryptopay debit cards
Traditionally, tangible products like bank notes, debit cards and cheque books promote easy application and sentimental attachment to the concept of money. But most important is the process of adapting with already existing systems offered by such tangible products.
Cryptopay’s Bitcoin debit cards (virtual & plastic) can be used anywhere Visa debit cards are accepted, and these cards can be loaded directly with funds from users’ Cryptopay Bitcoin Wallet and spent virtually or traditionally anywhere major payment cards are accepted.
These cards work online, offline and internationally, making it simple for customers to use bitcoin at millions of businesses around the world.
Regulation and security
Bitcoin has been criticized in some quarters as an enabler of shady transactions. This is due to its high level of privacy and relative anonymity. Therefore, meeting up with monetary transaction policies of major governments and financial institutions play a huge role in the implementation and use of the cryptocurrency within the conventional society.
Cryptopay upholds the regulation standards as obtained in most major economies. Also, AML/KYC policies and standards of governments and institutions are strictly adhered to.
Users at Cryptopay are required to prove their identity by sending in documents such as IDs, driving licenses etc. Also, they are required to prove their addresses with statements like utility bills, internet bills etc. The same mechanics is being applied in the first stages of ICO where only verified users will be allowed to invest.
Leading by example
Cryptopay sees this as a good opportunity to carry out an honest and transparent ICO that unlike any other is based not only on the whitepaper but on the products that already work, having been well acclimatized with the market.
In the future, the company plans to tie the ICO to the Cryptopay service performance metrics. This would imply that the amount of tokens that would be allocated to users will be determined by their contribution and engagement within the platform.