As a modern and innovative payment network, eBit payment seeks to reduce the cost of banking.
The financial services sector is dominated by companies based on a large number of intermediaries. eBit payment reduces the process to a necessary minimum, which translates into significant cost reductions. In addition, the eBit wallet allows exchange between various fiat currencies and the most popular cryptocurrencies.
For those of us who fancy ourselves as globetrotters, it can be quite arduous finding simple and effective modes of payment. Even the simplest form of payment tends to be either inconvenient or entailing a significant cost. There is no single currency that is universally accepted.
The cost incurred in exchanging back and forth between currencies, the difference between buy and sell price from which third parties profit, having to go through various intermediaries to find the cheapest solution, all of this can be quite taxing for the traveler. However one chooses to exchange between currencies, losing a percentage of value to an intermediary of some description is usually accepted as statutory and unavoidable.
Of course we now have cryptocurrencies which are feted as global currencies, except they are not, not yet anyway. Cryptocurrencies are still lacking mainstream acceptance, therefore a user is required to seek exchanges. Exchanges play the role of intermediary, taking a percentage from the trade. Besides, the process can be time-inefficient in some scenarios and the cryptocurrency market is so volatile that users often end up not receiving what they bargained for.
eBit Payment Solution
eBit payment offers instant exchanges of cryptocurrencies and fiat currencies without third party involvement. The payment platform processes exchange between currencies for a maximum fee of no more than 0.99%, which is significantly less compared to current exchange options on the market.
On the eBit payment app, which is now in closed alpha testing phase, each user’s account will be displayed in eBit cryptocurrency and all transactions will be sent to any of the user-specified currencies, which include various supported cryptocurrencies.
Whenever a user seeks to pay using fiat currencies, the transaction is credited to their account in eBit coins, which is automatically exchanged in real time and sent to the transaction destination.
Multi-currency wallet – Single user account with support for multiple cryptocurrencies and fiat currencies.
Real-time exchange – Exchange between all available currencies from anywhere in the world instantly.
Multi-currency payment card – As payment cards aren't directly linked to the user’s accounts, users may freely choose, change and pick whichever card with the desired account, even directly before the payment. Furthermore, offered cards come with the featured possibility of an eBit credit line in fiat currency, secured with the user's crypto-currency assets.
Online payment – Instant payment with minimal transaction fees. User transactions are fully encrypted, bolstering user security.
Business app – Aims to unite companies from all around the world, and helping them maintain contact by simplifying the flow of money.
Cooperative environment – Creates easy and fast access to office sharing spaces in big cities. As the quality and efficiency of work depends on multiple factors, including a proper workspace, eBit will create a network of co-working spaces, that will fulfill your needs for office space all over the world.
The eBit app will include a new bug tracker, so every bug can be reported by its users, to be tracked down by the team and patched up. This will boost the application’s overall usability.
eBit's ambitious long-term vision includes servicing all payments under one network, building a brand beyond just being a currency exchanger and facilitating a better flow of money around the world.
e-Bit ICO Details
- ICO Presale – November 24, 2017 to December 15, 2017
- Hard cap – 120,000,000 eBit
- Current price per token – $0.06
- Accepted currencies – Bitcoin and Ethereum
While some wallets offer the ability to exchange between cryptocurrencies, there aren't any readily accessible avenues for instantly exchanging and paying using various different currencies, including fiat currencies. With a maximum fee of 0.99%, the eBit app may appeal to many a frequent flyer.