As the social media wave continues to grow, many travelers are now looking for crypto based means to book their international trips with (hotels, restaurants, entertainment). However, one big problem that plagues the travel market today is that of streamlined payments. Due to intermediary services such as PayPal, Visa, conventional Banking institutions, charging such exorbitant fee rates, a lot of travelers lose a lot of money in unnecessary/ hidden costs. In addition to this, there are also other factors that make international payments difficult including:
- Long transaction wait times: quite often, banks take anywhere between 2-4 days to clear international remittances.
- Foreign currency exchange issues: this is a problem literally everyone has faced. Banks, more often than not, offer travelers with poor conversion rates (thereby leading to a loss of money).
- Processing Fee: another issue with regular financial institutions is that they charge a high processing fee per transaction. As a result of this, travelers always have to think twice before making payments abroad.
- Security risk: privacy is another concern when using regular forex means during our travels. This is because, all of our details and monetary information lies with centralized corporations/ companies (whose servers are prone to third party attacks).
What Is Tech Trade Coin?
TechTrade Coin is an all new “decentralized payment platform” that has been built upon the blockchain. It makes use of an advanced business model which allows for this platform to be incorporated with a wide array of domains such as
- Hospitality services
- Real estate.
Through the use of this portal, customers will be able to streamline the “process of booking and paying” for various services. Some of the other key aspects of TechTrade Coin include:
Open Source Based:
The platform has been designed via the use of an “open source” API, that is open to for public utilization.
Perfect For Travelers:
As mentioned earlier, this platform is perfect for travelers who would like to make their flight, hotel reservations via the use of cryptocurrencies.
Owing to the fact that this service is based within the blockchain, it is able to help foster seamless payments in a completely secure and private manner.
As with all blockchain based payment services, TechTrade Coin completely eliminates the need for intermediaries (Banks, Financial institutions) to execute its transactions. This not only saves us a lot of money, but also allows for reduced transfer times.
Other Tech Trade Coin E-commerce Services Key Aspects
All of the payments (irrespective of how much money is being sent across) are completed within a matter of seconds. As soon as the money is sent, it shows up in our digital wallet (along with a receipt of the transaction).
Low Fee Rates:
As stated previously, TechTrade coin charges processing fees that are minuscule when compared to what banks and other payment intermediaries (Neteller, PayPal) charge.
One of the biggest advantages of using crypto payment portals is that they offer a high level of security that cannot be matched by regular payment methods.
Whats On Offer With Tech Trade Coin?
As the name suggests, this application will be designed to help aid users in booking their flights, hotels etc in a fast, hassle free manner. As per the official company whitepaper, TechTrade Coin is looking to partner with “major service suppliers”, so as to offer customers with a host of options to make international travel more easy.
Though the use of this app, users will be able to participate in the procuration of a wide variety of products including:
- Consumer goods
- Interior products
- Electronic devices
Real Estate App:
This decentralized escrow service will allow blockchain technology to be used in the context of real estate purchases. It will allow investors to get in touch with property owners directly, thereby completely eliminating any commission fees that are usually charged by agents.
TechTrade Coin will be offering all of its customers with a “lending scheme” that will allow for investors to reap daily + monthly profits (depending upon the money they invest). For further details, users can check out the company website.
Via the use of the native company wallet, users can stake their TEC coins to reap an annual interest rate of up to 6%.
Tech Trade Coin ICO Token Details
TechTrade will be using a native currency to facilitate transactions within its ecosystem. In all, there will be a total of 300,000,000 TEC that will be created. Out of this number, 63,000,000 coins will be made available during the ICO.
ICO details: this sale period is set to commence on the 26th of January, 2018 and go on till the 16th of March, 2018. The distribution of tokens will take place in a series of rounds, during which the price will vary from $0.5 to $5. Additionally, only 20,000 coins can be procured per order (maximum of 10 orders per day).
Allocation of Tokens
- 21% of the currency pool will be made available to investors via the use of an ICO.
- 35% of the tokens will be used for network development.
- 25% will be used for the creation of a lending program.
- 12% will be used to bolster the company’s native ecosystem
- 5% will be used for marketing TechTradeCoin
- The remaining 2% will be used for admin purposes.
To see a detailed breakdown of the “utilization of raised revenue”, users should have a look at the official company white paper.
Lastly, to receive any further clarifications regarding this platform, customers can get in touch with company representatives either via email ([email protected]), or though the company’s Twitter, Telegram or Facebook channels.