What Is Global Digital Payment?
Global Digital Payments (Bytus) is a blockchain-based payment system that seeks to revolutionize crypto payments by creating a convenient and safe ecosystem where Bytus Wallet users can conveniently make contactless payments via payment terminals and the Internet using a QR code. Additionally, the payment system features instant conversion capabilities of cryptocurrency to fiat. Such features are anticipated to develop, improve, and globalize cryptocurrencies.
The platform will assist retail businesses in introducing cryptocurrencies as an accepted payment method. This will enable the businesses to attract more customers who prefer using cryptocurrencies as a payment method as well as help customers explore new markets.
Bytus Tokens will be the platform’s main and only utility token. Depending on their needs, the user can freeze the tokens for incoming and outgoing transactions. After the transaction, the tokens become inactive for 24 hours during which they can be returned to the main account.
Global Digital Payment Products
Bytus Blockchain Private Network
This is a private blockchain based on the Graphen Chains protocol. The network will comprise of retail trader networks who are the sellers on the system that accept the Bytus Token as a payment method. The network will enable users to make micropayments without incurring any commission.
Bytus Mobile Multi Cryptocurrency Wallet
The cryptocurrency wallet is accessible through the Bytus mobile application. The wallet is convenient and easy to use as it charges minimal commission for all payments made using the Bytus Token. The wallet generates unique private keys on the user’s smartphone, which ensures security of funds. Another unique feature of the wallet is the fact that it allows instant conversion of cryptocurrencies to fiat.
Bytus Crypto Bank
This will be the main institution facilitating instant conversion of cryptocurrency to fiat. The crypto bank will also act as an exchange platform. Once a user creates a Bytus Crypto Bank account, the account is linked to the Bytus cryptocurrency wallet and a virtual card is formed, which can be used to make payments for purchases on the Bytus Private Network.
Global Digital Payment Mobile Crypto Wallet Exchanging Benefits
Currently, transactions using cryptocurrencies have high and unpredicted commissions. Bytus will address this challenge by facilitating payments through the Bytus Mobile Service that has minimal commissions.
Through the Bytus Crypto Bank, users are guaranteed the safety and security of their funds, as the bank implements the latest technologies. Similarly, the Bytus mobile Wallet adds to the security of funds through the generation of private keys.
The Bytus payment system has a well implemented blockchain system that is easy to use and understand even for the average users who do not have sufficient knowledge about blockchain applications. Therefore, this reduces the time that they will take to understand each process.
Instant conversion of fiat to cryptocurrency
Through the cryptocurrency wallet and the Bytus Crypto Bank, users can easily convert cryptocurrency to fiat or vice versa when paying for goods and services.