Cashaa is fully decentralized financial platform developed on the blockchain. Each enrolled member on the stage will be able to take a loan, rapidly and anonymously and transfer your assets and able to pay for different services. Cashaa gloats themselves as the cutting edge blockchain financial Platform with an extraordinary interpretation of a peer-to-peer money transfer for the world. The Cashaa team is led by CEO Kumar Gaurav, he believes there ought to be an efficient alternative to our obsolete payment and banking system.
In a traditional way transferring the money requires huge process including endless effort all over the world. When an individual transfer large sums of money to support their families in other countries across the world. This is known as the remittance industry, estimated to be a 600 billion dollar. The problem with sending large sums of money across international borders is that it is still very expensive, overly complicated and time-consuming. By using traditional means, fees can cost you 6% to 12% to send the money. Imagine sending your hard-earned money to your family in Asia from the US, it may cost you to pay additional 10% of the sending money. This is a very real scenario and up until now, limited options like Western Union & Moneygram are the only methods of doing.
The Cashaa team believe there should be an efficient and alternative to replace the traditional payment and banking system. Cashaa blockchain based payment system aims to lower the additional service charges required in the traditional payment system.
Cashaa bridges the forex market with the cryptocurrency market by matching fiat senders and cryptocurrency traders. The payments platform enables people to send money all over the world with a fixed low fee of $1. Let’s say, you want to transfer money for remittance from the U.K. to India. You would be trading your British Pounds for Indian Rupee.
The way Cashaa’s platform works is by matching your request with a cryptocurrency trader that wants to sell bitcoins in exchange for British Pounds. The platform will then find another trader in India that wants to buy the bitcoins and pay for it in Indian Rupees. The Rupee goes to your intended receiver. This creates an ideal win-win situation for cash senders and cryptocurrency traders. The cryptocurrency traders are happy because they have access to higher liquidity and more trading opportunities. On the other hand, cash senders are happy because crypto traders are competing for their money. And best of all, their money gets sent to their intended destination without the unreasonably high transfer fee.
Cashaa spans the forex market with the cryptocurrency market by coordinating fiat senders and cryptocurrency traders. The payment platform empowers individuals to send money everywhere throughout the world with a settled low fee of less than $1. The way Cashaa's Platform works is by coordinating your demand with a cryptocurrency trader that needs to offer bitcoins in return for your US Doller. Then the Platform will find another trader in Asia (Where you want to send your money) that needs to purchase the bitcoins and pay for it to US Dollars. This makes a perfect win-win situation for money senders and cryptocurrency traders. The cryptocurrency traders are glad since they approach higher liquidity and more trading opportunities. Then again, money senders are glad in light of the fact that cryptocurrency traders are competing for their money. The best part is that their cash gets sent to their planned goal without the absurdly high exchange charge.
Website: https://cashaa.com/
Whitepaper: https://cashaa.com/pdf/cashaa_WP.pdf
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