Buying and selling Ether has always been a long and difficult process for most people. It takes more time and cost more money in addition to the centralized process that people have to go through. However, with the inclusion of Dether, how people buy and sell Ether is set to change completely. Dether is a decentralized P2P Ether network that allows users to buy Ether can spend it at all physical stores that accept them. You won’t need a bank account or fiat currency for your transactions. Dether also solves the issues that users go through when buying and selling Ether. Some of these issues include:
- Overly complex buying process
- Last mile issues in cryptocurrency transactions
- Centralized process
- High cost and longer time spent on buying and selling Ether.
How does Ether Work?
Dether works in three ways, for buyers, sellers, and shops. For buyers, they have an opportunity to meet with sellers from all over the world and to pay using Ether in your local currency. , on the other hand, can sell cryptocurrency for cash locally. The process is the same as a mobile ATM. For shops, they can expand their visibility and accept and manage payments in cryptocurrency easily. The process for shops is easier. They need to add their Business to Dether map, expand their visibility in the ecosystem, edit and get paid in cryptocurrencies and finally switch the currency into fiat money.
Benefits of Dether:
No funds are held: using the Dether wallet, sellers can transfer Ether for free and buyers are able to see the actual amount the seller is willing to sell.
Communicate safely with buyers and seller: Deter uses an encrypted messaging system to allow buyers and sellers communicate anonymously. The information is not kept in the entity and the two are able to chat without any need for a middleman.
Trusted buyers and seller: the network also uses a smart contracts rating system to make sure buyers and seller have a unique reputation rating based on successfully achieved transactions.
Mobile first and responsive design: Phones are the new banks and Dether has made sure that users get solutions adapted to their needs. It’s a mobile first solution with mobile fast responsive.
Hamid Benyahia, Co-founder, Mehdi Amar, Co-founder, Nicolas Wagner, Blockchain Developer, Pacien Boisson, Full Stack JS Developer, Ishak Leghlam, Full Stack JS/ Ethereum among others. The main mission of the team is to make cryptocurrency accessible to everyone, novice or experts.