This is a problem that almost all cryptocurrency investors face when trying to use what is called “The Future of Money”.
New, limitless technology promises without a shadow of a doubt, but the barriers between digital assets and the traditional banking system are still in the way.
Cryptocurrency holders tend to hold on to their assets in the long run, not only because they hope their value will increase, but because there is simply no easy way to use cryptocurrencies like BTC. , ETH and the like to buy products and services, pay bills, or buy other assets as real estate. The lack of use cases has also long been a critique of cryptocurrencies, but it is also a challenge created by the traditional banking system and its reluctance to embrace new technologies.
This is where the innovative and regulated financial products come from Swapin come into play The solutions crypto to fiat of Swapin break down the barriers between big banks and digital finance and act as the necessary bridge to the future of finance, as crypto laws. Here’s how Swapin’s solutions right now can be used to legally use Bitcoin to buy a house, a car and more.
The current problem of cryptocurrency and traditional financing
If you have spent a lot of time in the cryptocurrency industry, there is a high probability that you have a lot of capital. It also means that at some point you may have tried to use your cryptocurrencies to meet an everyday need, such as paying your rent or your mortgage. The problem is that your landlord, bank or any institution you are engaged in does not accept crypto.
Using cryptocurrency today requires cash to be involved somewhere in the process. The digital world is not yet quite ready to disrupt the traditional way of doing things. For the time being, digital assets should rather be adapted to function in the current system.
The second option is to pay out the assets, but when you do this, you send the money to your bank and then make the necessary payments, you will have paid a fortune in fees and will be subject to market volatility. This is precisely why companies and banks do not want to touch it.
How does Swapin solve these challenges?
Swapin CEO, Ewald Hannes-Kree, ran into the same problems as a Bitcoin miner in the early days of cryptocurrency. Kree had to constantly collect his profits to finance his business, but this was very impractical and very expensive. Kree sought to change that.
Years later, Swapin was created. The company has managed to raise over € 1.68 million and has garnered interest and support from all sectors of investment, banking, IT and crypto. The company is focused on creating innovative B2C and B2B products that bridge two very different worlds: digital economy and traditional finance.
Swapin solutions enable partners to grow in the cryptocurrency field.
Swapin solutions already exist all over the world and you may not know it. For example, it is possible to buy a house in crypto thanks to a partnership between Swapin and the real estate giant RE / MAX. Now, for the first time ever, cryptocurrency holders can pay for a new home or cottage using their bitcoin, ETH, litecoin and other primary digital assets.
Solutions like CoinCollector help bill-based companies such as car dealers, luxury goods manufacturers, jewelers, investment companies and more to accept cryptocurrency while receiving currency for a connected bank account. The process eliminates the fear of cryptocurrency volatility by making crypto-to-fiat transactions completely transparent. Businesses can attract new audiences and create new revenue streams by reaching out to wealthy crypto holders who are interested in affinity categories.
Legal, regulated and ready for the economy of the future
Swapin solutions are also completely legal and fully compatible, as the company is a licensed financial entity under the guidance of Estonian regulators. As a regulated brand, Swapin is working to obtain its e-banking license and is working to implement a virtual IBAN to further replace the need to rely on banks.
Swapin solutions include both CoinCollector and E-Com for business. CoinCollector creates a payment link where customers can pay in crypto, while E-Com is a widget that companies can implement on their websites or online stores to accept crypto. These two solutions make it possible to instantly convert cryptocurrencies into fiat money.
What you need to know about Swapin
Swapin also offers products aimed at consumers. Users can set up recurring payments using Instafill to pay their rent, mortgages and utility bills after buying a house or other property with their cryptocurrencies. If users need to make a one-time payment, there is another product called Instagram. A cryptocurrency shopping solution called Instabuy will be launched soon.
You can read more about Swapin’s roadmap and brand history on Swapin’s blog. Also, be sure to check out the Swapin website to see what innovative solutions are available to businesses and consumers.
This text is a press release not written by the Cryptonews editorial staff. Do your own research and invest only the money you can afford to lose.