What is Bonpay?

Bonpay (BON)

Website

Bonpay is a payment platform that wants to provide users with an easier way to store, send and accept cryptocurrencies anywhere in the world. The company claims to be a payment platform build on technology that allows funds transferred instantly, securely and ideal cross-border fees. You can easily sign up for an account and access the Bonpay wallets for free. The wallet lets you stores and uses multiple cryptocurrencies from a single account. You can convert, spend, transfer, receive and store cryptocurrencies on the wallet. Bonpay also has the virtual card or the Bonpay plastic card that users can use to spend money in the real world.

What problems does the platform form solve?

Bonpay isn’t the only platform that allows users to convert crypto into fiat currencies. There are other platforms, but they face issues which Bonpay seek to solve. Some of these issues include:

  • Because using cryptocurrencies can be complicated, Bonpay always users to easily use digital currencies instead just holding them in their wallets.
  • Limited availability of cryptocurrencies exists, the platform wants to help in the rapidly expanding world of cryptocurrencies.
  • Allows one wallet from a variety of cryptocurrencies instead of using different wallet for each digital currency
  • Lack of liquidity
  • High exchange rates that wipe out gain

With these issues in mind. The Bonpay team has plans to expand its support and provide a cryptocurrency card with the highest limits and lowest rates. It has partnered with the best exchanges in order to provide an all-in-one multi-currency wallet.

Bonpay features

  • Transparent rates: because of the decentralized nature of the blockchain technology, funds can be transferred securely and instantly and with ideal cross-border fees.
  • Self-controlled data protection: the system zero-knowledge security system that allows it to go ahead in resolving security, compliance and technical issues.
  • DLN: Bonpay involves numerous different providers to open new horizons to convert cryptocurrencies to each other. They can also convert fiat in an easy and fast way, just like sending a message.

Bonpay timeline

Bonpay was launched some years back. In 2016 the idea of the Bonpay service creation was formed and through the year they began the development of the platform, negotiations with credit card companies and created the first MVP Bonpay wallet. In 2017 the subscription was open to users and the Web version was made available. The token sale was planned for October to November 2017. Bonpay is led by CEO Alex Blazhevych and CTO Oleg Boykov.

 

 

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Cryptostec
DISCLAIMER The information contained on this website is provided for informational purposes only and is not intended to substitute for professional financial, legal or tax advice. You should consult a professional before acting on any information you find here. This website may be compensated by companies mentioned through advertising, affiliate programs or otherwise. Any references to third party products, rates, or websites are subject to change without notice. Please do the appropriate research before participating in any third party offers. © Copyright 2020 Cryptostec
%d bloggers like this: