Hackernoon logoWe Are Making Crypto More Usable In The FIAT world by@bitcoinvend

We Are Making Crypto More Usable In The FIAT world

BitcoinVend Hacker Noon profile picture

@bitcoinvendBitcoinVend

Buy & sell anything, process payments, peer-to-peer exchange & more.

Bitcoin & crypto were originally intended to be used as a currency. Hardly surprising that has not happened when it’s so complex for non tech savvy and without a marketplace for buyers and sellers to transact.

Currently, crypto has little value other than to those with capital to invest. The average Joe Bloggs cannot afford to speculate, so has no reason to use it.

Where there is an apparent push for mainstream adoption with large corporates such as PayPal, most of these companies are simply performing a fiat conversion on behalf of the buyer, something which does not align with the ethos of crypto or add value to the system. This is not what ‘Satoshi’ and his companions intended.

We at BitcoinVend are changing things so the community will no longer need to be reliant on Fiat to use their crypto – and we are not talking about just the existing community – we are talking about the world!

Crypto veteran Christopher Cousins, founder of BitcoinVend puts it simply:

Blockchain projects typically love to build solutions no one outside the industry understands and most efforts towards adoption are top down which is unlikely to work. We are reversing that model with a bottom-up approach; making a product that is easy for everyday people and starting a grassroots movement like crypto was back in the day. However, this time its simple, if you can turn on your phone you can now buy or sell items with crypto.

What is BitcoinVend and What Does it Do?

BitcoinVend is the world’s first all-purpose App, a simple system that anyone can use to make buying and selling with crypto effortless.

To achieve this we have integrated:

  • A marketplace, like eBay, Amazon, or Facebook.
  • A payments system, like Revolut or Nubank and Stripe.
  • And a peer-to-peer exchange, like Localbitcoins and decentralized exchanges.

It’s all-in-one, safe, easy, and convenient to use for people and businesses to carry out their business with no interference. It’s a self-contained, borderless and frictionless, whether crypto savvy or not.

Our Smartphone App ends the need to hunt around for vendors, figure out different payment systems and jump between multiple exchanges!

Much more than just an App, BitcoinVend is a whole ecosystem in the palm of your hand.

The App is more than a marketplace, crypto wallet and exchange, by combining these together with careful thought and extensive development, we are putting a whole ecosystem in the palm of every user’s hand.

Think about it, where can you find a solution like this? It simply does not exist and with all honesty we have been dumbstruck as to why no one has done this before – which encouraged us even more to make this happen.

The bottom line is that central bank issued fiat currency is accepted everywhere, crypto isn’t, so it isn’t being used. For crypto to become a widely used global currency, not only does it have to be as easy to use as fiat (or easier in the case of BitcoinVend) and accepted everywhere, it also has to be trusted, which it hasn’t been by many. To avoid a trip down the silk road and ensure we keep the platform free of bad actors, we have integrated various features such as:

  • A unique user scoring system based on successful interactions, where those who 'cheat' suffer reputational and potentially financial losses.
  • Mediation services (handled by the most reputable users), and escrow facilities to protect payments.

Furthermore, some App policies will be based on a community voting system – with the intention of making BitcoinVend a user-run and managed system, that’s fair, just, and democratic (eventually being as decentralized as possible).

The reluctance to use crypto as currency ultimately comes down to the difficulty in doing so and outright greed for the most part, but what most forget is that the majority of the world are living hand to mouth… they cannot afford to invest so until now the people who need it most haven’t been able to even get started.

So, to encourage and help those who are less privileged than us, we are giving away crypto. Users who sign up to the App, will get some crypto for free and can spend it right away. At BitcoinVend we know that experience is everything and talk is cheap. Imagine how powerful this could be, not just for your skeptical friend next door but for the unbanked and those suffering from hyperinflation.

You don’t need a bank account, credit card, cash in your hand or to invest risk capital and hope, with BitcoinVend all that’s needed is a Smartphone and a 30 second setup – let’s build a brighter future together!

BitcoinVend App launches to the general public in June. Head on over to our website to learn more.

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