Vendit Exchange Review – The Starter of a New Crypto Revolution?

Project Reviews / 22.02.2019

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 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 most merchants not knowing what they are, the current state of cryptocurrencies looks very grim.

To increase the usability of cryptocurrencies, Vendit has created a unique exchange platform with many features. So, let us now have a look at this new crypto exchange platform.

What is Vendit?

Vendit Exchange Review

Vendit is a crypto exchange platform developed 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 realized that they could help mainstream cryptocurrency adoption by helping merchants integrate their services.

This is exactly what the Vendit exchange platform aims at doing. By providing API and a PoS processing technique for the merchants, Vendit helps merchants worldwide accept 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 charged by the exchange to attract more users towards their exchange.

How does Vendit stand out?

Anyone who glances at 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 to achieve 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 and 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 and cryptocurrencies. For anyone 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: To increase the platform’s usability, 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 you made and keep the cryptocurrency you hold. Thus, propelling the mass adoption of cryptocurrencies.

Rewards: The exchange platform also provides its users with many rewards. A part of the borrower’s interest in 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 using the Vendit coin 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.

Ongoing developments

Vendit exchange platform is undergoing active development. The initial development of the exchange platform has started. At the same time, 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 exchange platform’s launch and 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 and the API integrations with the banks be completed.

With so many features lined up to be implemented, the Vendit platform will surely bring 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 of its use case; VENDIT tokens will be the universal transactional coins for exchanging cryptocurrencies and real-world currencies. The token will drive every transaction and payment on the exchange. Moreover, the Vendit platform’s rewards are paid in Vendit and a part of all fees charged to the users. Even more encouragingly, merchants can also offer their customers the Vendit tokens as part of a loyalty program that the Vendit platform will integrate.

Currently, Vendit is 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 fully working product of at least the exchange and payment app.

Check out the image below and their website here for their Token sale.

VENDIT ICO DETAILS

Closing Thoughts

Vendit is a sophisticated and future proof exchange platform that will help mainstream cryptocurrencies worldwide. Many cryptos enthusiastic will be tempted to use this platform with many features on a single exchange platform. With the credit/debit card simply magnifying cryptocurrency’s usability globally, Vendit aims to pioneer a new crypto revolution.

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Debasish Das is from India, an engineering graduate and holds a postgraduate degree in management. He has 10 years of experience in the financial sector, having worked for one of the biggest MNC banking groups in the country. Currently he has business in e-commerce, insurance and consultancy. As an avid blockchain and cryptocurrency enthusiasts he believes in investing in the future of technology, and feels this is going to make the world a single marketplace and also give the power from centralized banks and governments back to people.