STREAMITY: BRIDGING THE GAP BETWEEN CRYPTOCURRENCY AND FIAT MONEY
Cryptocurrency undoubtedly has laudable benefits. What attracted me and many others most is its 'proposed' ability to remove intermediaries and hence nip in the bud unbearable and unfair costs these intermediaries charge during financial transactions. When we receive money from people living in far away countries like Australia or the United States, it's always saddening to see the amount you are charged for such transactions. This is why we welcomed cryptocurrency with open arms. Our money can now be wired straight to us without passing through hands that will keep deducting from it in the name of service fees till it gets to us.
However, it appears to be that what we fear about the traditional method of financial transfer and exchange has subtly crept into the world of cryptos howbeit indirectly. This is especial when one intends to transfer or convert cryptos to fiat money.
November last year, a friend of mine wanted to buy $200 worth of bitcoin. We approached local sellers we know. Their prices were exorbitant. They do not always follow the current market price here. Another factor that aggravated the situation was that the price of bitcoin and other cryptocurrencies were going up. We decided to look for people who would sell to us at cheaper rates. We met a couple of them on the internet. There prices were fair and we were okay with them. The major problem we had was trust issues. It was pretty difficult to trust these people. I mean, who would trust someone you do not know and have never met before? That was how we kept moving from one person to another looking for who would agree to send us the crypto before we transfer the money. We could not find. They were of the inverse opinion that we should send them the money first before they send their coins. Are we mad to take such a gigantic risk? We refused. That's how my friend decided not to join the crypto world again.
The other day, I read an article about someone who lost his money to online scammers. He entered into a deal with someone, trusting his client, he sent his money but the other party did not keep to his own side of the bargain by sending the coin.
What about exchange of other cryptocurrencies to BTC or ETH first before any transactions involving conversion of crypto to fiat; The stress and cost implication is discouraging.
These therefore underscore the need for a system that will put an end to these problems and bring about decentralization of the P2P exchange system. A system that will make crypto world to be truly decentralized in all perspective and that is what Streamity has come to offer.
What is Streamity?
Streamity is a decentralized cryptocurrency exchanger. It was developed to bridge the gap between cryptocurrency and the numerous problems associated with its exchange like those hinted above.
The core component of Streamity StreamDesk. StreamDesk is a platform that enables you to relate with whoever you want to have a deal with involving cryptocurrency without interruption by an intermediary or third party.
How does this work? I know you'll be wondering. StreamDesk utilizes smart contract and API system payment method. This ensures that the security of your transactions is guaranteed as well as elimination of the usual payments you make during such transactions as there will not be any need for someone or a system to stand in-between the transaction process.
Why Streamity?
It is only normal for us to explore every possible benefit a new invention or opportunity offers. I shall let you know why Streamity should be the best bet and the next big thing that will happen in the world of cryptocurrency.
Wide Range of Cryptocurrency Availability: As it stands now, only a few cryptocurrency are available for P2P transactions. Most of these platforms accept only BTC and ETH for transactions. This means that you will have to convert your cryptocurrency to either of BTC or ETH before you can be able to transact. On StreamDesk, there will be wider opportunity to exchange other cryptocurrency without having to convert them to BTC and ETH. This therefore saves both time and money that will be charged in the prevailing conversion method.
Low Fees in Cryptocurrency Transactions: This revelation I saw at Streamity is shocking
"users all over the world lose up to $2.5 billion dollars everyday when exchanging cryptocurrency for fiat money"
This is due to high charges encountered in the process of these exchanges which can be as high as 10%. This is damn discouraging. If you trade in cryptocurrency very well you will understand the feeling. With smart contract, StreamDesk platform will do away with this high charges. You spend as low as 0-2% in your crypto exchange which is very insignificant compared with the traditional system. The good thing about it is that the prices are fixed and is not open to adulteration by the corrupt in the market. In addition, the system is fair to all and rewards those with more commitment and exchange. The higher you trade, the lesser you pay.
Convenience: This is a transaction you can do from the comfort of your home. You do not need to run around looking for someone to transact with. Just access your StreamDesk and a click, you're done with your business.
Information Availability: StreamDesk will also offer guides on market cap thereby informing everyone using the platform about what is going on in the system and market generally. This is to the benefit of crypto novices. In addition, it will make the system insusceptible to corruption as there is no room to defraud anyone since the price and information will he staring everyone at the face.
How Do One Buy Cryptocurrency Within StreamDesk Platform?
It is very simple. Let's assume Ned wants to buy cryptocurrency from Mark. What will happen is that Ned will enter a smart contract with Mark on StreamDesk platform. Mark will send his cryptocurrency to StreamDesk having entered the smart contract agreement. His cryptocurrency will be locked until Ned sends his money. Then, the platform swaps the money and the coin. Ned gets his cryptocurrency while Mark gets his cash and everyone is happy! What can be more direct and simpler?
Partnerships Yet?
Already, Streamity is partnering with EOS, CIVIC and NEM. These cryptocurrencies are already available for exchange at the platform. They are also eagerly working to partner with more cryptocurrencies. It is going to be a limitless opportunity. For payment system partnership, Yandex and PayPal have already been incorporated. More are still on the way.
Streamity has released the alpha version of StreamDesk. You can access it here
What's New?
Streamity has more to offer both now and in the future. Apart from the Alpha, the second phase of the token sale is ongoing. It will elapse in 26 days and few hours from now. Do well to visit Streamity for more information.
Conclusion
Streamity as an innovation has so much to offer to cryptocurrency enthusiasts. It also has the potential of attracting new persons and investors into the community. When one is assured of the safety of transactions, one will have less worries as to why he should not be involved in the ever growing community of cryptocurrency users. In addition, other cryptocurrency value in the community will be increased and people will be glad to trade with them. The future of cryptocurrency is more promising with Streamity as it is the bridge builder between cryptocurrency and fiat money.
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