Double C’s: What do Cyptocurrencies and Counos have in Common?
Cryptocurrencies were developed through Blockchain technology to make financial transactions more secure and safe. Another purpose was to create borderless and frictionless payment platforms with smaller transaction fees than banks or financial tech companies like Paypal.
On the one hand, a cryptocurrency’s network was decentralized, preventing any one individual from claiming ownership of the network. This way, the users’ security was maintained. Unlike banks and other institutions, cryptocurrencies are peer-to-peer networks that allow one individual to make payment to another, faster, more securely and cheaply, removing the middle men who increase costs of doing business.
However, new issues arose. As demand increased or decreased, the price of cryptocurrencies sharply rose as high as 3000% or fell as low as 95% and in some cases more. The entire market was once valued at over $800 billion, with a record high of $18 billion drop in only 3 days, meaning that the market shrunk almost 3%. Another issue with the market are countries’ domestic laws directly influencing market movement, including size and key players. So it made a lot of current proponents of cryptocurrencies in the world suspicious, with most criticism coming from banks. Lastly, the social media platform Facebook and search engine Google banned ads to curtail activity. As the tide slowly reverses, with Facebook opening doors to the discussion and banks developing their own blockchains and currencies like JP Morgan, regulators will define the rules of the game.
Currently, both worlds interact, the traditional banking and financials sectors with the emerging cryptocurrencies and blockchain sectors. Cryptocurrencies can be purchased with fiat, by third party software companies and digital exchanges like Coinbase, ShiftPay or Wirex.
Now we can add another layer in the evolution of cryptocurrencies and its mass adoption: the option to buy and sell cryptocurrencies without fiat. One company has created its own currencies, eliminating fear, uncertainty and doubt among consumers. Recognizing that cryptocurrencies are volatile, they developed a digital platform as the one-person stop for making purchases online with digital currencies which are stable, meaning the value of such digital coins doesn’t fluctuate. To add a unique value proposition, users can buy and sell crypto currencies but also use the currencies developed by the company to buy metals like gold.
Welcome Counos.io - the payment gateway to all of the world’s credible stores online, where you can buy gold, as well as other products and services.
Written by: Alice Hlidkova
Photo source: counos.io