Vendit Exchange Review – The Starter of a New Crypto Revolution?
Our primary mode of transaction is in the form of fiat currency. Even though most of us are aware of the control that the centralized organizations have over these fiat currencies, the ease with which we can pay others is what draws more people towards using it.
The main problem with cryptocurrency comes in the form of its usability. No matter which merchant store we visit, we will be able to pay using fiat currency. This is not possible in the case of cryptocurrencies. With a majority of merchants not even knowing what they are, the current state of cryptocurrencies is looking very grim.
What is Vendit?
Vendit is a crypto exchange platform that has been developed in order to increase the usability of cryptocurrencies in the world. Crypto exchanges are the most convenient platforms to exchange between the various cryptocurrencies. Several crypto exchanges also allow users to exchange crypto with fiat as well. The problem with the existing crypto exchanges is that none of these platforms has realized that they can help in the mainstream adoption of cryptocurrency by helping merchants to integrate their services.
This is exactly what the Vendit exchange platform aims at doing. By providing API as well as a PoS processing technique for the merchants, Vendit helps merchants around the world to start accepting cryptocurrencies. The cost to transfer cryptocurrency between users on the Vendit platform is nil. Thus, fostering the widespread use of the Vendit platform as well. To top all of these features, the Vendit platform also minimizes the exchange fee that is usually charged by the exchange, in order to attract more users towards their exchange.
How does Vendit stand out?
Anyone who just glances the Vendit project might feel that it is just another cryptocurrency exchange out there. However, this exchange platform has futuristic plans for the world, with cryptocurrency at the top of all this. Unlike the traditional exchanges that mainly focus on allowing investors to invest and trade cryptocurrencies on their platform, Vendit allows its users to do much more. Keeping cryptocurrency mass adoption in mind, this exchange platform has provided its users with all the features that will facilitate in achieving this goal.
The exchange platform: Vendit exchange platform is a hybrid crypto exchange like none other. By bringing out the best of both the centralized as well as decentralized systems, Vendit offers its users a great set of features. The best part about this exchange is that the users are never forced into using cryptocurrency. Anyone who would want to use fiat to transact can do so without any problem.
P2P Lending platform: Vendit also allows its users to make the most of both fiat as well as cryptocurrencies. For anyone who is looking at lending or borrowing cryptocurrency or fiat, Vendit offers a solution that would cost a whole lot lesser than a traditional bank.
Credit card: In order to increase the usability of the platform, Vendit will provide its users with a credit card. Users can lock out any cryptocurrency that they have on the exchange as collateral and start using the credit card to make purchases anywhere in the world. You can later pay for the purchases that you made and get to keep the cryptocurrency that you hold. Thus, propelling the mass adoption of cryptocurrencies.
Rewards: The exchange platform also provides its users with many rewards. A part of the interest paid by the borrower on the P2P lending platform is distributed to all the users who hold the Vendit coin. Additionally, the more one uses the platform, the more rewards he will earn. Merchants can also set up loyalty programs by making use of the Vendit coin in order to satisfy all its customer’s needs.
Partners: Vendit team plans to collaborate with many reputed organizations and stores to enable users to pay using cryptocurrency, thus increase the value adoption of cryptocurrencies.
Vendit exchange platform is undergoing active development. The initial development of the exchange platform has started while negotiations with the US banks and the process of onboarding of other coins on the platform have also seen considerable progress and should be completed by the first quarter of 2019.
The second quarter of 2019 will see the launch of the exchange platform as well as the merchant app for accepting payments. The third quarter of 2019 will be the most interesting period of 2019 for the project, as this is when the credit/debit cards will first make its appearance as well the API integrations with the banks be completed.
With so many features lined up to be implemented, the Vendit platform will surely be able to bring in more users into the crypto world.
ICO & VENDIT Token
The VENDIT token is an ERC20 Token designed to propel the Vendit platform, with a supply capped at 150 million of VENDIT tokens. The team has planned ahead its use case; VENDIT tokens will be the universal transactional coins for the exchange of cryptocurrencies and real-world currencies. The token will drive every transaction and payment on the exchange. Moreover, rewards offered on the Vendit platform are paid in the form of Vendit as well as a part of all fee charged to the users. Even more encouragingly, merchants can also offer their customers the Vendit tokens as part of a loyalty program which Vendit platform will integrate.
Currently, Vendit are conducting the Private Sale of their ICO at the price of 0.25$ per token and there are only 6 million tokens available for this phase. Official ICO will launch with a full working product of at least the exchange and payment app.
Check out the image below and their website here for their Token sale.
Vendit is a sophisticated and future proof exchange platform that will help in the mainstream adoption of cryptocurrencies around the world. With so many features offered on a single exchange platform, many crypto enthusiastic will be tempted into using this platform. With the credit/debit card simply magnifying the usability of cryptocurrency in the world, Vendit aims at being the pioneer of a new crypto revolution.