The road for merchants wanting to shift to cryptocurrency has not been easy. Merchants - who traditionally use fiat currencies for internal expenses - find it challenging to accept clients' payments in cryptocurrencies because of all the costs they still have to bear in fiat currencies. Cryptocurrencies, thus, need to be converted into fiat currencies and vice versa for payments, and that involves a host of problems - like a time delay in currency conversions, transaction fees, volatility, the risk associated with crypto prices, and whatnot. We see many people who understand cryptocurrencies' potential and want to use them in everyday life get stuck in this endless fiat and crypto conversion cycle and can't bear their costs because of thin margins.
But now, with the tremendous interest in cryptocurrencies of late, the situation is no longer the same. There have been considerable investments in cryptocurrencies, and with the rising market cap, prices also seem to have mostly stabilized, making them viable payment instruments. With the large-scale adoption of cryptocurrencies by businesses and users alike, the risk associated with them right now is minimal. And for instant conversion of fiat to crypto and vice versa, the Bytus crypto bank, with the support of more than one million retail stores already using it, is making significant progress.
The Bytus crypto bank uses its one-of-a-kind graphene chain to break free from the cycle of conversion of fiat and cryptocurrencies for digital payments instantly. With the experienced team at Global Digital Payments help, the Bytus crypto bank charges no commissions, conversion fees, transaction fees, or any other additional fees for any transactions. Because it runs on a private custom blockchain, it can support hundreds of thousands of transactions co-occurring while ensuring that all identifiable information is encrypted and your data is safe and secure.
The Bytus crypto bank is a part of the Bytus ecosystem that uses its own Etherum based ERC20 utility token BYTS as the medium of exchange. This token represents the user's channel width within the ecosystem, so a user with 10BYTS can make up to ten transactions in 24 hours anywhere on the Bytus ecosystem. What's also interesting is that you can mine the BYTS token from within your Bytus wallet app itself and automatically increase your width in the system as time passes.
While using the Bytus Crypto Bank is as easy as scanning a QR code on your phone and making a payment online with any of its one million-plus retailers, don't mistake it for just another cryptocurrency wallet! The Bytus crypto bank is a complete virtual financial institution equipped with all features that modern banking needs - from transaction insurance to overdraft facilities. It supports a wide variety of cryptocurrencies through its multi-currency exchange. Users also gain access to a virtual credit card to make payments in both Bytus tokens and fiat currencies.
If you're planning on making the switch to crypto, there is no better time. With Bytus and its wide array of services, shifting to cryptocurrency has never been cheaper, more accessible, or convenient.
The entry of Bytus into the world of crypto trading has ushered in a revolution. This robust payment platform has simplified the global digital payment with its ecosystem. A host of Bytus applications consisting of Bytus Token, Bytus Private Blockchain, Bytus Wallet, and Bytus Crypto Bank have galvanized the crypto users and redefined the way crypto trading is to be done in the future.
The ease of crypto payments facilitation and instant conversion of cryptocurrency into fiat and vice versa has already attracted more than 1,000.000 retailers from across the world to Bytus Private Blockchain thus strengthening the prospects of Bytus economy and its fast-paced adoption in the future. Payments are being regularly accepted through Bytus Wallet by retailers on the Bytus network.
Bytus has positioned itself in the crypto world as an important player by introducing its game-changer payment platform and bringing a huge relief to crypto users with easy and instant conversions of their cryptos into fiat whenever needed, which they couldn’t do earlier.