Cryptocurrencies have revolutionized the way in which individuals send funds to one another. It’s now possible for individuals from anywhere in the world to send funds to each other in minutes across international borders without the high fees and delays that are associated with traditional payment systems.
Although cryptocurrencies make transferring funds fast, the ease of use with which users are able to send capital to one another still requires a modicum of development. Platforms such as CoinBase make creating a crypto wallet easy, but there is still a small learning curve associated with setting up a wallet and transferring funds.
A new blockchain based platform, however, is aiming to dramatically streamline the crypto payment process by creating an ecosystem that connects popular messaging app Telegram with Coinbase into an interoperable platform.
The TransCrypt platform is currently under development, and is aiming to create a user-oriented platform that makes the cryptocurrency transaction process as comfortable as possible. The TransCrypt system makes it possible to send and receive money like a message, and supports an extremely diverse range of cryptos.
In this article, we’ll take a look at the TransCrypt platform and find out what it offers to determine whether it’s the future of streamline crypto payments or not.
What Is TransCrypt?
TransCrypt is a user-oriented universal payment platform that focuses on extreme ease of use. The TransCrypt system is built around a core blockchain platform that allows users to send and receive funds internationally, as well as send and receive national fiat currencies.
Other features of the core TransCrypt platform allow users to quickly and easily convert fiat currencies to cryptocurrency and visa versa, as well as withdraw funds directly to bank cards. All of the functionality of this system integrates directly into Telegram.
To ensure a high level of security, TransCrypt uses three factor authorization and integrates the MRPorto encryption protocol. Interestingly, TransCrypt is also aiming to integrate with CoinBase in order to deliver on the fiat currency interactions offered by the platform.
TransCrypt boasts a 0% commission on all transactions, and makes it possible to download the TransCrypt app and access currency transactions in just three clicks. Using TransCrypt, it’s possible to send and receive funds in the middle of a Telegram chat.
All users need to send currency to one another using TransCrypt is the Telegram nickname of another user or their mobile number, TransCrypt is available for iOS, Android, and Windows, Mac, and Linux computers. At release, TransCrypt aims to support Bitcoin, Ethereum, Litecoin, Ripple, Mastercard, and Visa. TransCrypt also make an API available that allows developers to implement any of their ideas.
TransCrypt Telegram, Blockchain & Coinbase Universal Payment System Verdict
Many of the features offered by TransCrypt are currently under development, and are set for release in the second quarter of 2018. While the TransCrypt platform may be still under development, it’s still an extremely promising platform that could potentially disrupt the way in which payments are made between crypto users.
If you’re interested in staying updated on news regarding the development of the TransCrypt platform, it’s possible to sign up for email updates via the TransCrypt website.