Tempo, one of the world’s leaders in fiat money transfer is creating a crypto payment network to simplify exchanges and make cashing out more hitch free. Tempo is not just trying to make exchanges easy, but also faster. They are offering to remove the long process that requires backers to transfer tokens to Bitcoin or Ethereum before they can be cashed out into a fiat currency. In a recent report, Tempo receives significant PRE ICO funding to bridge the gap between cash and cryptocurrency that will accelerate the global expansion of cryptocurrencies.
What is Tempo?
Tempo, in simple terms refers to the network designed for crypto paying. It is situated in Paris and cuts across the entire world. Tempo can be accessed both online add offline and possesses registered agents in Europe that numerically surpass 300. That said, it functions on stellar DEX as the main European anchor acting on behalf of stellar and brings simplicity to crypto trading. Tempo, whether used on the mobile app of tempo or at one of its numerous agent locations, ensures that crypto and fiat are united for everyone irrespective of place and time. It operates singularly with the aim of continually simplifying the process of transferring money. Tempo is in the course of bringing to being the biggest payment network of crypto exchanges that have been licensed and are globally recognized. This is achieved by personally kick-starting the process on both it’s mobile application and online platform.
What Problem Is Tempo Solving:
One major problem facing the cryptocurrency world is cashing out or liquidity. Though few companies make cashing out possible, it takes days and rigorous processes before finalizing the transaction. Also, they charge hulky amount of money as a transaction fee. Earlier in April, I had an encounter while trying to cash out Bitcoin from my Blockchain account and it was surprising to discover that I couldn’t. The only option was to transfer to another’s wallet and then be remitted by the person. Since the crypto world was swarming with too many fraudsters, many had experienced issues of fraud in trading and cashing out, and I have gotten a poor offer for my Bitcoin, I decided to find a way to cash out easily. Albeit, in the subsequent days that followed, I saw my Bitcoin drop in value while still trying to find a way to cash it out. I know I’m not alone in that experience, there are many more people seeking for solutions and ease in exchanging crypto to fiat. It is quite heartbreaking to discover that most exchange networks did not include many countries in their system, especially countries from sub-Saharan Africa. While they are allowed to register and trade, there is no provision for cashing out.
Think up the possibility of having cryptocurrency worth $5,000 and unfortunately seeing the value reduced Tempo, Insignificantly without providing you with a fair opportunity to liquidate the assets or realize the profit on your investment. Now, many token holders by instincts will quickly attempt cashing out, but the process is not exactly as simple and quick as desired, it may take days. This scenario is obtainable in diverse fiat exchange platforms. Furthermore, numerous platforms make it compulsory for backers to transfer to Ethereum or Bitcoin tokens before the cashing out process can be perfected into fiat currency. Tempo seeing this sad state of affairs has in place its global payment network and its mobile app which gives fiat owners a way out to cash out without being subject to the huge cash out fees of BitcoinsATM. Apart from this benefit, tempo puts on the table a debit card. It makes available the unique opportunity and ability to utilize cryptocurrencies in the acquisition of goods and services.
How Tempo Works:
Tempo also utilizes the stellar network which is primarily a distributed ledger that is open sourced and is charged with ensuring lightyear io and P2P payments, the former being a profit-oriented spin-off with the primary objective of assisting big players in getting software integrated. This game changer further presents the opportunity to engage in Blockchain payments both online and offline. Remittances relating to crypto can also be successfully done to about a hundred countries.
How Tempo Began:
Tempo is a very simplified concept that began with the primary objective of giving ease to transfer of money processes. The president of Tempo Jeff Phaneuf throws more light on the abilities of the Tempo remittance network. He says it equips tempo in making a speedy cash out process that cuts across numerous countries. The sole reason for their expansion in his words is to bring about the fastest, most secure and easiest unity between crypto and cash. It’s more like a speedy bridge of the gap.
Stellar networks CTO and Co founder, Jed McCaleb put in some closing words when he expressly stated that the quick integration between Tempo and Stellar, and the role to create an EU anchor is giving international payments a new face. Payments on a global phase are made more affordable, reliable and faster.
The Team Behind Tempo:
Tempos leadership is limited to a few distinct personalities. Jeffrey Phaneuf is it’s president and Anthony Barker occupies the position of General manager and chief technology officer. There is Lucie Pintenet who is the chief legal officer and Hortense de La Rochefoucauld occupying the position of Chief Compliance Officer and finally Dieynaba Dione the sales Director
Investing in tempo
With the cutting-edge advantages tempo possesses over numerous platforms the likes of Bitcoin and Ethereum, it is only expected and normal that backers seeking to save cost would channel their investments on tempo. The payment network on its part has payout locations amounting to a hundred thousand in close to a hundred countries.
Tempo lastly possesses a payment service license that operates within Europe and the remittance network is part of the membership of International Association Of Money Transfer Networks.
Find out more on the website: https://tempo.eu.com/en
