Connect with us

Cryptocurrency News

Denaro Announces Blockchain Project To Solve Crypto Liquidity Problem.

Eseandre Mordi

Published

on

Cryptocurrencies are an incredible new technology that’s looking to bring a brand new era for both economics and politics. Both the concept of decentralised, peer-to-peer trading and the digitally distributed public ledger are among the significant improvements and promises crypto assets are introducing to the world. However, being a new form of asset, there are still many issues. And Denaro is looking to fix a big one by helping you spend your cryptocurreency in Local Stores worlwide with debit cards and easy payment systems.

One of the most significant drawbacks faced by this market is the problem of crypto liquidity. While it is true that trading one type of coin for another has become easy, trading cryptocurrencies for fiat currencies is a whole different story. The standard practice is for traders to go through a plethora of various stages and processes before being able to withdraw their earnings in Euros, Dollars, or any currency they prefer .


Among the steps necessary for receiving your “cash”, we can count having to convert between cryptocurrencies to find the one with the highest crypto liquidity, going through confirmations and having to pay fees for most of the cycle.

What Denaro is developing is a digital wallet (and a physical card) that works with multiple cryptocurrencies, and that will allow customers to store and spend their tokens through a web wallet with a user-intuitive interface; or, if they prefer, they can perform offline payments at specific terminals with the available crypto card.

So far, both Bitcoin and Ether, as well as Denaro’s coin, have been confirmed as supported by the platform and customer will have the opportunity to use them for everyday payments without the need to convert them since any store will be able to be paid through terminals developed by Denaro.

Denaro is aiming to link cryptocurrencies and the traditional market infrastructure the same way it works today with fiat currencies through the creation of personalised cards that will work with particular terminals that will record the transaction, the same way regular debit cards work.

Following suit on their objective about stimulating crypto liquidity, Denaro will deliver free payment terminals to merchants who acquire their card.

The digital wallet mentioned before will work through smart contracts, a particular type of program available in certain blockchains (such as Ethereum’s) that automatically trigger transactions whenever previously set conditions are met.

Knowing that, it is certain that the Denaro web wallet will be integral for using the physical card by working as storage for the coins that will be spent at the terminals. With the e-wallet, owners can both hold and exchange cryptocurrencies through Denaro’s blockchain.

Additionally, Denaro’s DNO token will be used to power the functioning of their card and wallet by giving users many advantages such as premium services available on the platform. To stimulate the liquidity of the DNO token, Denaro will distribute among holders a part of the money raised through transaction fees.

By allowing cryptocurrencies to be used daily like fiat, Denaro is bringing a potent tool to solve the crypto liquidity problem.

Continue Reading
Advertisement
Comments
Advertisement
Advertisement

Facebook

Advertisement

Trending

Pin It on Pinterest

Share This