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PEGGING AND HOW BITBAY FINDS AN IMPORTANT SOLUTION

Updated on March 18, 2016

PEGGING AND PAYMENT SECURITY

Online shopping and trading of goods seem really very interesting. Although online trading has its own benefits such as its really very less time consuming, convenient and you have the world full of options in front of your eyes. Moreover, it’s not just about buying and selling, there are a hell lot of things going on the basis of online trading such as the online hiring of employees, and online auctions. While participating in online commerce, the question is “What a buyer or seller is most concerned about?” Consumers are concerned about the prize, payment cost, payment method and most importantly PAYMENT SECURITY”.

CRYPTOCURRENCY AND PEGGING

In terms of safe and secure payment methods, online transactions have their own space. Consumers prefer transacting online over any other method. And here we talk about cryptocurrency which is basically a digital currency where strong encryption techniques are used to operate the independent and verified transfer of funds.

Pegging is nothing but policy alleviating currency of country by setting an exchange rate to another country. This is well known that most of the countries peg their exchange rates with Dollar.

THE SOLUTION FOR SAFE ONLINE PAYMENT

What makes you being able to make global payments? Have you ever thought of buying something from amazon, eBay but not able to do so because you don’t have a bank account. Credits cards are a Big NO. Bitbay is the most trusted and most powerful decentralized crypto-financial- platform using its own cryptocurrency. Bitbay gives both security and integrity.

BITBAY: THE SOLUTION

Having an internet connection is worth for using Bitbay to trade or auction products from anyone and anywhere in the world. The potential benefit of Bitbay is faster and more efficient transacting of funds. Removing charges and brokers from between and keeping unbreakable contracts while trading, Bitbay is working on transparency. Bitbay basically works upon two main methods to keep users transactions safe and secure which are:

Distributed Market:

Smart Contract

Distributed Market:

Bitbay uses decentralized policy eradicates the question of failure which can cause any harm to the user or delay in services. Bitbay features a built-in wallet marketplace. It provides its consumers space to not only buy or sell, even go into agreements, exchange for hiring people. Consumers can sell things against cash as well as they can exchange. It also provides the facility of auction under the smart contract.

Smart Contract

Bitbay has removed the space of middlemen or extra fees in between buyer and seller. And now there are smart contracts, which are permanent and enforceable. These contracts completely secure while giving equal rights and same regulations for both parties. Parties come under contract with utmost good faith, thus, they work together. Under this contract no seller can betray, no employer can leave the contract without paying his employee. There cannot be any type of fraud or misleading because doing so will lead to the extra cost to the particular party.

So here comes the Bitbay, Making Online Commerce Secure.

There is a huge amount of people on the globe that doesn’t have access to recent market facilities or online services, but it doesn’t mean they won’t get these services. Bitbay serves as a platform for online payments, payment processor and it is globally available. Now forget to search for lost receipts, statements, invoices, and contracts. Bitbay gives a solution for safe, secure and hassle-free online business. It allows completely secure online commerce and also enables online auctions or trades to be done. We believe in giving our consumers an unbreakable, decentralized and transparent platform to trust upon.

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    • Pujagusain profile image

      Puja Gusain 

      2 years ago from India

      Really nice and knowledgeable article.

    • profile image

      nitika bhatia 

      2 years ago

      There are some more like amazon and alibaba??? what about them?? are they safe ??

    • profile image

      aakriti 

      2 years ago

      What about another platforms like bitcoin???

    • profile image

      gourav ahuja 

      2 years ago

      Can you plz share something more about bitbay???

    • profile image

      Ankita 

      2 years ago

      Well this is great to know about these platforms,

      Thanks for information

    • AlluriMaahiSharma profile imageAUTHOR

      Pratibha 

      2 years ago from Chandigarh

      Thank guys for your interest.. And nitika thanx for reading my post thoroughly. I won't definitely be a bit specific about all other platforms and the solutions they provide their customers.

    • profile image

      Nitika 

      2 years ago

      Dear can you pls be a little specific abput these crypto thing. These platforms like amazon and paypal ????

    • profile image

      Karan 

      2 years ago

      Hey maahi , thanx for the website. I am learning over this . Now i have got a way. Thanx again

    • profile image

      Anshu 

      2 years ago

      Well thisbis really helpful for online consumers. Thanks

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