AN ARTICLE ON HOW STREAMITY WILL CHANGE THE WAY P2P TRADING IS BEING DONE

AN ARTICLE ON HOW STREAMITY WILL CHANGE THE WAY P2P TRADING IS BEING DONE

For a company to convince people that it can change the status quo, that company must have a blueprint of what it has achieved, where it is, and where is going.

So, what is the blue print of Streamity?

Image reference : https://streamity.org

From the above image, we can see that Streamity has already made tangible strides towards achieving its set goal.

May 2017 : Creation of the idea of Streamity project. The idea of Streamity was created by the team below.

Image reference : https://streamity.org

August 2017: The prototype of StreamDesk finished Backend and user’s account developed. The user account enables you to register for StreamDesk.
Q1.2018: Start of ICO. If you register within the next 6 days, you get a 30% off the Pre-ICO.

Image reference : https://streamity.org

Q1.2018: Launch of StreamDesk and of the marketing campaign. This will be the official launch of the platform.
Q2.2018: Launch of the education and information (Streamity) resource.
Q4.2018 : Launch of cryptocurrencies converter
Q2.2019: Launch of Streamity mobile version (IOS/Android). Mobile is surely the future.
Q4.2019: Launch of (Streamity) investment resource.1

Now that we have given an introduction to the blueprint of Streamity, let us now talk about the platform (StreamDesk) Streamity has developed to carry out this plan.

What Is StreamDesk?

Image reference :https://streamity.org

Image reference : https://streamity.org

StreamDesk is the innovative P2P platform, developed by Streamity, and based on the technology of blockchain, that enables two individuals, irrespective of their location, to carry out a P2P trade, and is attractive due to its safety and favorable terms of transactions, with presence of no human middlemen. The whole process is remote, which allows users to manage their time more effectively.2

Now that we know the vehicle through which Streamity is going to carry out this change, let’s look at the current challenges in the current P2P markets.

Challenges Current P2P Markets face

Image reference : https://streamity.org

Commission charges are high: These companies have put the burden of the cost of trading in the crypto industry on the customer, through their very exorbitant fees. The market is so volatile, so these companies charge you for this risk, in the form of commissions.
Cryptocurrency exchange rates are high: These companies have set their exchange rates far above the current exchange rates, hence making you pay far above what you should pay.

How will Streamity solve these challenges?

Image sreference : https://streamity.org

Minimal fees: Streamity’s strong point is that it has the lowest commission in the crypto market.
Fair service: Streamity has made it a duty, to make sure that the exchange rates on the platform is as close as possible to the current exchange rate.

Now that we know how Streamity will solve these current market challenges, let’s see how Streamity gives answers to the fears of fiat users converting their fiat to cryptocurrency.

FEARS OF FIAT USERS AND SOLUTIONS GIVEN BY STREAMITY

Hacking: Fiat users are scared of the fact that a lot of exchanges still make basic security mistakes, and are prone to hacking, because of the cryptocurrencies they keep.

Streamity solution
Streamity has a decentralized P2P model that does not keep custody of cryptocurrency, hence the issue of hacking has been handled by its decentralized P2P model.
Fraudulent activities: Fiat users are scared of the prevalent news of people being defrauded of their crypto currencies, and losing all their funds.

Image reference: https://streamity.org

Streamity solution
Streamity has adopted the smart contract concept, which protects the fiat user from being defrauded. The cryptocurrency of the seller is being secured, while the fiat user makes payment. When the seller confirms payment, the cryptocurrency will be released to the buyer.

Now that we have seen the way decentralization keeps hackers away, let’s talk about how decentralization benefits P2P trading.

Benefits of Decentralization to P2P

Image reference: Google images.

Increased privacy level: In a centralized system, your data is stored in a central source, and your privacy is not guaranteed, but with decentralization, you have all the privacy.
Increase in security level: The decentralized nature of P2P entails that the cryptocurrencies being traded are not in the hands of any third party. The coins remain secured until the fiat is successfully transferred.

HOW WILL STREAMITY IMPACT CRYPTOCURRENCY TO FIAT CONVERSION FOR ME

Streamity will impact cryptocurrency to fiat conversion for me in the following ways:

Minimized transaction fees: From all I have learnt during this research, Streamity will minimize the fees I pay during cryptocurrency transaction, as compared to other P2P platforms.
Fair exchange rates: I have learnt that Streamity will have the best exchange rates in the market, because they would make the rates as close to the current rates as possible.

References

Link to contest : https://steemit.com/cryptocurrency/@originalworks/100-steem-submission-bonuses-sponsored-writing-contest-streamity

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