BinCoin:- A Payment System That Process Cryptocurrencies

aaacherry (37)in #payment • 5 years ago

Hello dear fans!
Today am going to share a very important project I come across to everyone of us. The project name is called BinCoin and they are here to design a payment infrastructure for digital currency (cryptocurrency).

Before I proceed, let me enlighten some of us the importance of cryptocurrency in our daily businesses;

The cryptocurrency comes as a currency that supports the innovation of blockchain technology, it opens more opportunities of doing business and make everything seamless. Let me do an illustration with the previous system; let assume Mr A want to buy goods from Mr B, Mr A will carry his bag of money, go to the nearest bank and make the payment; but with blockchain and cryptocurrency, you can sit at your home comfortably and make a payment without stress.

So the function of this platform called BinCoin I want to let us know about is that "they want to build an infrastructure that will make it possible for people to make payment with their cryptocurrencies.

In a nutshell, BinCoin is a payment system for processing of cryptocurrencies. A blockchain oriented platform designing a payment gateway for utilization of cryptocurrencies and other sorts of digital assets. Again, I tagged BinCoin as an unbanking system for processing a digital payment.

IMPORTANCE OF BinCoin PAYMENT SYSTEM

The BinCoin payment system is fully decentralized and automated system; this means individuals on their own can process and make payment on their own without the involvement of intermediaries or third party.

CHALLENGES OF THE TRADITIONAL PAYMENT SYSTEM

There are a lot of challenges facing the conventional payment system which are:

The traditional payment system are operating from a single server; this means that when the server is down, the entire system goes down too. The previous system do face challenges of network which normally delay user's payment rate.

The traditional payment system are not secured because hacker can breach into the server and cause commotion and divert user's money.

The traditional payment system always involves the interference of intermediaries. These intermediaries always got their own share out of every payment you process. This is the reason why the traditional payment system do place some charges on their customers.

The traditional payment system can only process a certain limit of money and it has jurisdiction.

HERE COMES THE SOLUTION

The innovation of BinCoin is the revolution that has hit the world payment system; it came to rescue us from the sluggish and slower payment system we previously have and launch us into system that can speedily process a payment for the cashless era we are. With the BinCoin payment gateway, users can make payment from anywhere, anytime and any day without restriction or any government policy. Let assume you want to purchase goods from an online store or anywhere, you can do it by collecting the merchant or supplier wallet and send him/her the agreed amount of token into his/her wallet and the merchant as well will receive it conveniently.

FEATURES OF BinCoin

The BinCoin payment gateway can be used for both the online and offline store. It can be used at point of sale,at the counter and at ATM for making payment. This is an opportunity for those e-commerce platform to connect with BinCoin payment system and incorporate into their system for customers to use for making of payment for any goods they want to purchase.

Furthermore, BinCoin will design a debit card and credit card which will be used at point of sale to make payment which will be automated deducted from the user's wallet.

One of the important features of BinCoin I like most is "they will design a feature that will make it permeable for the users to lend and borrow money with each other. This means, there is a P2P payment scheme in BinCoin platform.

Another feature of BinCoin is the designing of BIN Pay Chat which gives opportunity for the users to chat with themselves just like other social media. The BIN Pay Chat was designed to be compatible with android device.

The BinCoin platform furthermore went on to create an exchange for trading of digital currencies.

The BinCoin platform has a wallet for storing cryptocurrency. This wallet is available both on the web, android and iOS devices.

Finally, the BinCoin platform has a token which can be utilized on through this platform and use it to enjoy the services of this platform. The BinCoin coin can be tradable at exchange by exchanging it with btc, ETH or even fiats. The BinCoin coin as well can be used to make payment and also be accepted while enjoying many benefits.

IN SUMMARY

The world is revolving round and we are now in the cashless era, so therefore, we need an infrastructure that will make it viable and BinCoin is the answer. BinCoin payment gateway will make us utilize and payment with our cryptocurrencies. The BinCoin payment system has come to make a payment faster and also secured. It is advisable to adopt the BinCoin payment platform because you won't be paying any charges for using their system to make payment.

HERE ARE THE USEFUL OFFICIAL LINKS OF BinCoin

Website:- https://bincoins.io/

ANN Thread:- https://bitcointalk.org/index.php?topic=5120167.new#new

Facebook:-https://www.facebook.com/bincoins/

Twitter:- https://twitter.com/BINcoinOfficial

Reddit:- https://www.reddit.com/r/BINcoin/

Steemit:- https://steemit.com/@bincoin

Telegram:- https://t.me/BINcoinOfficial

Android Wallet:- https://play.google.com/store/apps/details?id=com.bincoin

IOS Wallet:- https://itunes.apple.com/us/app/bin-coin/id1455963307?ls=1&mt=8

WRITER'S DETAILS

Bitcointalk username:- Bunmilove