Cryptocurrencies and blockchain technology are transforming financial markets and many other industries. In many cases they provide significantly more sophisticated solutions to problems currently being solved through centralised solutions.
But when it comes to buying and selling cryptocurrencies with fiat currency it is a different picture. the fact is buying and selling cryptocurrencies isn’t as easy it should be.
Firstly, when it comes to buying and selling cryptocurrencies people are typically faced with a limited range of options beyond BTC and ETH. If you have tokens that you want to sell, typically you first need to exchange them for BTC or ETH. Only then can then be moved into fiat money. The problem with this two stage process is that you are paying fees at every step in the process. This means that you can lose significant value compared to your original holdings in that token.
Secondly, buying and selling through peer to peer platforms is often not a seamless process. With non peer to peer solutions there are risks around regulatory intervention or theft by intermediaries.
Thirdly, the fees charged for exchanging cryptocurrency and fiat are typically quite high. Again people look to move funds between cryptocurrency and fiat often lose a significant portion of the value of their funds.
How Streamity Aims To Address These Issues
Streamity has developed a new decentralised application called StreamDesk. In essence StreamDesk is an application which enables the exchange of a range of cryptocurrencies directly between buyers and sellers. It achieves this in a way which is decentralised and user friendly.
StreamDesk addresses many of the existing problems with cryptocurrencies. In particular it reduces the fees that are charges by current solutions. Typically with StreamDesk trades there will be no fees in fiat, and the cryptocurrency fees range from 0 - 2%. With StreamDesk users won’t be limited to only trading ETH and BTC. They will be able to trade cryptocurrencies wherever there is a market of buyers and sellers. StreamDesk enables transactions using smart contracts removing third party risk and providing greater certainty for everyone involved.
Conclusion
Some of the most successful startups in the cryptocurrency markets have been those that help to move funds between currencies. We can also note how quickly cryptocurrency users are willing to move to solutions which provide superior service and lower fees. If Streamity is able to create an active market for cryptocurrencies and provide an easier to user and more secure application, then it could prove to be very popular.
Streamity is currently undergoing a token sale for the native, cryptographic token STM. You can learn more about the token sale by visiting:
Streamity Website: https://streamity.org/en/
Streamity White paper: https://streamity.org/uploads/docs/en/Whitepaper_Streamity_en.pdf
Streamity Twitter: https://twitter.com/streamityorg
Streamity Facebook: https://www.facebook.com/streamity