Use Crypto to Shop!
Every member of the crypto community dreams of the day his or her coins can be used to purchase groceries, renew a wardrobe, or even book a vacation. That will be the deciding moment when cryptocurrencies will achieve their full potential.
The hindrance to this dream becoming a reality is that there isn't a feasible solution to appeasing the needs of merchants. Understandably, most merchants do not want to accept cryptocurrencies as a direct form of payment as these can be too volatile. Even the major coins like bitcoin or ethereum can shift in any direction by as much as 10% in an hour. Most businesses have slim margins and they cannot sustain the degree of risk associated with such a high volatility. In order to appease the needs of merchants, a new exchange is offering a token that might finally be able to find a way around the challenge at hand.
Instant Conversion
The Calfin Global Crypto Exchange offers crypto-fiat pairs that allow direct conversion from cryptocurrencies to fiat currencies.
The exchange offers e-commerce merchants a plug-in and APIs to give them the ability to start accepting payments from the crypto community. As an exchange that can provide conversion from crypto to fiat, CGCX can support the ability to finally allow the crypto community to have a crypto wallet usable for fiat purchases.
To ensure there is sufficient volume to ensure the liquidity needed to process payments at any point, the exchange is partnering up with other exchanges. This creates a mutual benefit among the partners at CGCX can almost guarantee an all-time liquidity to ensure the transactions can always be processed for merchant purchases and at the same time its partners get access to new volume. Additionally, transactional volume coupled with standard exchange flows can be demanding on the underlying technological systems. Hence, the exchange is developing a system able to support an incredible through-put of as much as 1 million messages per second.
An Added Benefit: As the crypto payment would be processable without the traditional card networks necessary for e-commerce payments, the transaction fees payable to card networks could instead by passed on to consumers as a savings. And that's why CGCX promises to establish agreements with merchants to bring savings for purchases made with the exchange's token.
Exchange Discount
The exchange has adopted a popular exchange token model. CGCX tokens will also allow traders to cut their exchange fees in half. However, the discount is projected to drop as the years pass.
Several companies have theorized the means to bring cryptocurrencies to daily usage. However, this is the first time an exchange is attempting to do this. Given that CGCX is able to offer crypt-fiat pairs, it can ensure the crypto community can use its holding while ensuring merchants do not face any volatility risks.
Essential Links
🌐 Website: https://www.cgcx.io/
💡 Whitepaper: https://www.cgcx.io/wp-content/uploads/2018/05/Whitepaper.pdf
👨 ANN Thread: https://bitcointalk.org/index.php?topic=3360185
💻 Telegram: https://t.me/cgcxofficial
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What a great news. We are using Visa, Master Card for shopping. It has some disadvantages. I think cryptocurrency can solve these problems. Thanks for sharing.
Absolutely :)
@hatu
I dream of that too
You, me, and the entire crypto community ;)
good news, congratulations to the shping team
Have a look at the project website.
It shows the team and their Telegram contact; you can congratulate them.
cryptocurrency they certainly have a future, few people still understand cryptocurrency, but I see big changes in the last period more and more people are interested crypto
Definitely more people than ever before are aware of the crypto market (largely thanks to recent mass media coverage). I feel the interest is rooted for the wrong reasons though as most people need a better grasp of blockchain technology to truly appreciate the underlying potential of cryptocurrencies.
good new for ladies
Actually, that's an interesting point. This could improve the male/female adoption rate of crypto. Right now, an overwhelmingly higher amount of men are involved with crypto.
I look forward to seeing when cryptocurrency can be used to pay for items seamlessly. I followed you after reading your article please do follow back.
There's a lot of work happening to bring that day ever closer.
And sure, I'll have a look at your work :)
CGCX is a great platform for everyone who want to use their crypto coin as digital payment in correspondin their shopping, gorcery purchase and so on. But due to crypto hedge it might delay the future of such trends.
The market instability won't be a factor since the exchange supports cypto-fiat conversion. I feel THIS is the key to making crypto spending in life tasks a reality. Instant ability to convert. Wallet's crypto funds can become the merchant's desired fiat.
Good post really informative.
keep it up
Thank you :)
This post received upvote from @tipU :) | Voting service | For investors.
Thanks :)