Common Issues in Cryptocurrency and How Cardonio Solves Them
There are so many different platforms being created these days and all of them are having their own cryptocurrency. After all, the digital money is believed to be the future of economy and finance so it is only logical that most modern platforms are incorporating the crypto money in their operation. Unfortunately, cryptocurrency is still considered alien in our world today even with the modern technology and such a thing. It is excluded and not included in today’s transactions because the centralized system is threatened with the digital money (and its existence). That’s why it is quite difficult to use the cryptocurrency despite its various perks.
Cryptocurrency in the Real World
Cryptocurrency has a lot of functions and benefits in the online world. Besides being used a the main currency, the crypto money can also be used as a mean of investment. It is also an efficient way to pay, transfer, and exchange – no matter what kind of cryptocurrency being used. Unfortunately, such a benefit doesn’t seem to apply in the real world. Supposed you are going to your favorite store and you have tons of digital money in your wallet. But then again, you can’t really use your crypto money for the transactions, right?
Here are some of the most issues when you want to do transactions with the crypto money:
- The digital money can’t be used for both online and offline transactions. In most cases, the vendors don’t really have the system or the way to accept, handle, and manage the cryptocurrency. Moreover, the vendors don’t really know how to convert the digital money into fiat currency, and vice versa.
- Not all platforms are able to manage the conversion of the digital money. Even when you are managing online transactions, not all platforms are willing to take different kinds of currency. Let’s say that you have a cryptocurrency from platform B but you are making a transaction in platform A. In general cases, it would be difficult for you to convert the cryptocurrency B to be used in platform A, and vice versa.
- Even when some platforms admit that they can integrate the cryptocurrency with the regular transactions, the real implementation isn’t as easy as they think. It requires an extra effort and a rather complicated operation.
- The regular transaction involving cryptocurrencies and fiat currency can be done but it takes times and you will have to spend the extra fee with the regular banking system.
Cardonio and the Solutions
If you see from the previous sections, it is pretty understandable if people are mostly reluctant to use the cryptocurrency, especially for managing their everyday and daily transactions. But thanks to Cardonio, everything can be made simpler and easier. You just have to know how.
Here are some solutions provided by Cardonio:
- They are creating a platform (along with the technologies) that makes it possible to choose whatever cryptocurrency you have and use it for payment (and also receive payments). The system in Cardonio will automatically convert one currency to another, or from one cryptocurrency to fiat currency, and vice versa.
- The platform has its own app, which makes it super easy and simple to do the transfer, conversion, and such thing alike. The app is free because you don’t have to pay anything to get it
- The platform is offering an integrated system with its own card. It will function like the credit card so it is convenient.
- The ‘credit card’ can be used for both online and offline transactions. It can be used in offline stores and it doesn’t require any complicated systems or costly hardware.
- Most of the transactions are free of charge – which is completely different from the regular banking system. Even when you have to transfer money from one cryptocurrency to another one, or sending money from one location to a different country, it won’t cost you anything. When you have to convert the cryptocurrency to a fiat money and vice versa, it doesn’t cost you anything either. In short, when you are using this platform, you won’t have to worry about spending the extra money for small things, including the administrative fee.
The Biggest Questions
Despite the seemingly very good offer and satisfying outcome, there are some questions that you need to consider:
- How will the platform make money if they don’t charge any fee, even for operational use?
- How can they provide the system for stores to accept the payment (via the card)? Will they provide the hardware? Will they use a certain system with easy syncing?
It is a good idea to have these questions in mind. Maybe you should ask the customer service so you can get the answer.