The need for a more transactional form of cryptocurrency has never been greater.
The overall market capitalisation of cryptocurrencies has grown quite rapidly over the last several years, Even after a steep correction so far in 2018.
As the amount of capital in crypto fluctuates, so too does the total volume of transactions. But overall, both have been growing steadily with each passing year.
In order to be considered a legitimate form of currency, crypto must fulfil the three primary characteristics of money, which include being a
- Store of value
- Medium of exchange
- Unit of account
Without being usable for small transactions at point-of-sale merchants and large transactions between businesses, cryptocurrency cannot fulfil the second feature of money – a medium of exchange.
Crypto Point-of-Sale Transactions
While Bitcoin provides an excellent store of value, it takes some time for network transactions to confirm. Transaction fees have also been known to skyrocket amid times of high transaction volume.
A currency like Avesta doesn’t suffer from such inefficiencies. Fees are flat, period. Whether you need to send a dollar worth of tokens to a friend or send millions to a company overseas, you will be paying a fixed rate for the privilege of using the network.
To be fair, some progress has already been made with regard to daily crypto transactions. Crypto users have been able to use Bitcoin-backed debit cards for a number of years, and many online merchants now accept multiple forms of cryptocurrency.
But Avesta has the capability of being integrated into a point-of-sale device as its default payment mechanism. Customers and merchants could use Avesta tokens for payments and quickly exchange them for other currencies if they so choose.
In addition, the Avesta desktop wallet can be used by businesses for crypto transactions, invoicing, record-keeping, and more.
B2B Crypto Transactions
Businesses don’t currently have a reasonable option for making large transactions using crypto.
With Avesta’s new invoicing feature combined with the seamless business-oriented nature of the Avesta wallet, everything an entrepreneur needs can be located in one place.
Imagine the convenience of having the same payments system that you use at point-of-sale devices being integrated into your business-to-business dealings. Transactions of all volumes can be sent, received, invoiced, and recorded within the same platform.
This makes things much easier for small-to-medium sized businesses and could one day be adopted by large corporations as well. Any productivity enhancing product is always welcomed in business and the features provided by a crypto transactions network like Avesta fulfil this purpose well.
Crypto Transactions Redefined
In conclusion, crypto transactions currently suffer from a lack of convenience for consumers and integration with regular business operations. Avesta solves both of these problems at once.
Being part of a broader business and payment system ecosystem is something that has not yet been achieved by other networks. In fact, it has seldom even been conceived or considered possible.