It’s a fact that shopping using cryptocurrencies at this stage in their financial market revolution isn’t much of a rosy affair. It can be frustrating sometimes, especially given that cryptos are yet to go mainstream or to be accepted as credible means of payment by all business establishments. However, a silver lining seems to be showing in the horizon as things begin changing for the better – starting with Europe.
Cyclebit is a start-up focused on cryptocurrencies, and most especially crypto payment systems. The company is presenting a payment solution that could make cryptos go mainstream much earlier than expected.
The idea is to enable stores and other business establishments to accept crypto payments in a much more straight-forward and easier manner than currently happens. For starters, the fact that many merchants are yet to accept cryptos as a valid means of payment suggest that there really is a problem to be solved. Cyclebit is stepping into the crypto space to help tackle such issues of concern.
Cyclebit has already reached to businesses in South Korea and Europe, and the payment system is already getting rolled out in Spain. About 150 establishments are already onboard, and that’s good news for crypto users.
Improving User Experience In An Easy Ecosystem
While most startups say they’re “working” on a payment solution, Cyclebit seems to have already acquired one from a payment platform called Ibox. Ibox records annual turnovers of upwards of $1 billion, and that clearly speaks loudly of its capability.
In fact, Cyclebit’s goal is to use Ibox’s system to enable point-of-sale devices to process crypto payments. To use this system, all a merchant needs to do is install a ready App that runs on both Android and iOS. The App can channel payments from banks and online crypto wallets, something that the company believes will open up the industry for more revenue inflow.
Cyclebit plans to achieve this goal by making it super easy for users to operate the system. All complexities are to be dealt with at the back-end while users enjoy a simple and easy-to-use interface. In its opinion, Cyclebit argues that the current crypto payment systems are so complex that they’re actually inhibitive to users who would otherwise be doing more business and contributing to the mass adoption of cryptocurrencies. The company aims to remove that impediment.
Cyclebit is currently working on the core product that will bring onboard a variety of cryptocurrencies that people can use in their business dealings. Judging from the positive response the initiative is receiving, as well as its future prospects, it’s clear that Cyclebit’s idea could very well help stabilize the volatile crypto market and foster mass acceptance of the digital coins all over the world.