BitcoinVend is a P2P marketplace and a crypto payment platform that aims to help push adoption by making cryptocurrencies simpler and more available for businesses and individuals.
Cryptocurrency adoption has made quite a few major leaps in a very short time recently, and most of it happened thanks to the growing institutional adoption. However, with that said, crypto adoption as of right now still focuses mostly on investments, trading, and different methods of earning more crypto, which mostly happens in the DeFi sector.
In order for adoption to take the next step, cryptocurrencies need to also be useful in our everyday lives, and this is something that a project called BitcoinVend aims to accomplish.
What is BitcoinVend?
BitcoinVend is a peer-to-peer (P2P) marketplace and crypto payment platform that aims to help Bitcoin and altcoin adoption take the next step by solving the issue of the eConomy. Its goal is to allow users to buy and sell anything, process payment, exchange coins, and more. Essentially, it wishes to help people integrate digital currencies into their lives, businesses, and the world itself. Best of all, it plans to do it with a single multi-purpose app.
The Issues with Crypto Adoption
The biggest issues that stand in the way of adoption are the complexity of the crypto sector, the inability to spend coins, and the lack of trust in them. The complexity is understandable — cryptocurrencies are a technology, not a physical asset that you can hold in your hand like fiat money. While this may seem simple in the eyes of tech-savvy users, it can still be incredibly complicated for a lot of people who are not so familiar with the technology. In other words, in order to boost adoption, cryptos must be easier to handle.
Next, there is the matter of usability. Today, more merchants than ever accept cryptocurrencies. But, on the global scale, this is still only a drop in the sea of businesses that are out there. More people need to be comfortable with accepting and using digital coins in order for adoption to truly take place.
Lastly, there is the lack of trust, which actually comes from the lack of understanding. People are skeptical about the things that they don’t understand, and especially when it comes to technology. This is why it is necessary to simplify things and educate as many people as possible, encouraging them to do the same.
How does BitcoinVend Solve These Problems?
As mentioned, BitcoinVend’s goal is to tackle all of these problems, and to solve challenges that stand in the way of adoption. It aims to do it by offering an all-in-on user-friendly app for people and businesses. BitcoinVend app aims to be more than just an app — the plan is to turn it into an eConomy solution that fits in the palm of your hand.
The app will work like a bank, an exchange, or a wallet, meaning that it lets people store coins, make and process payments, exchange cryptos, but also buy and sell virtually anything. It aims to be simple to use, not unlike eBay, or Facebook, where millions would have and easy access to it and universal usability. This is the only way to encourage people to join and take part in the financial revolution that is cryptocurrency.
It will also provide users with a variety of ways to settle transactions, with InstaPay being the main one. As the name suggests, it offers instant settlements, but it does it without fees when paying contacts. In addition, the project plans to list even more options and well-known wallet integrations in the near future.
The app will be free to download, and it should be available by June of this year. After that, the global adoption and easy usage of digital currencies will be ready to begin. But, there will be a pre-release of the app for all of the project’s newsletter subscribers in May, which will give users a look into the system earlier, and allow them to familiarize themselves with how it works before everyone else does.
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