PayFair - Dividend coin with a lot of potential

Hey everyone!

In this blog post I am going to Write about something I consider a hidden gem. There is a lot of different crypto currencies out there. Some don’t do anything at all, some serve a problem, some are implemented already and but most of them are under development. I want to share with you a coin I have researched this week, and its called PayFair.

PayFair is a decentralized escrow platform that ensures security of transactions made between two parties. It is based on the ERC-20 Ethereum blockchain. There are already some payment platforms in the crypto market, however, PayFair is the first one with an escrow. Because PayFair is the first to market, it has a huge benefit over the non-escrow competition.

There are two main ways to earn income based on the token, Escrow Nodes and Trust nodes.
Escrow nodes. The node ensures the integrity of the trade between the two parties, and currently the PayFair team has announced that you need $250 worth of PFR to hold a node. There will be some active work involved with these nodes where you might have to mediate in different trades. 40% of the fees involved with the escrow nodes will be distributed to all Trust node holders monthly.

The second way to earn from PFR is to make a Trust Node. Everyone that sets up a Trust node, will help provide a more stable and safer system for the platform. Here you just have to leave the wallet online and don’t have to do anything else. This is similar to other staking coins, such as Reddcoin. The team has announced that you need 10,000 PFR to set up a Trust node, and you can stake and get proportional returns if you get 15,000 or 20,000 etc tokens. In the Trust nodes 80% of the transaction fees will be distributed back monthly.

The coin is in early development, and with the white paper not published yet, I think it’s a small risk to take to get involved. I recently bought enough for a Trust node, and will set this up as soon as this option goes live. As soon as this goes live, I think a lot of people are going to rush into this coin to get a piece. I will write another post once I make a trust node, and the process.

What do you think about PayFair? Will you invest? Do you think it’s a bad idea? Do you know any competitor or other coin that solves a similar problem? I would love to hear your thoughts in the comments below.

I am not a financial advisor. This post is only my opinion.