Bpay (BUY) ICO Reviews – ICO Token News

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Most of the digital payment platforms available around the world are useful but they have their drawbacks as well. These global digital payment platforms are often subjected to hacking and other security threats that can cause huge financial losses to businesses.

The majority of traditional digital payments support fiat currencies but don’t allow digital transactions of digital currencies such as Ether, Bitcoin, Litecoin, etc. Moreover, there are high fees involved and the options of digital transactions are not very convenient to most of the users.

Built on the Ethereum blockchain technology, Bpay is a decentralized, open-source, secure platform for carrying out traditional as well as cryptocurrency payments.

Bpay (BUY) Analysis

What is Bpay (BUY) all about?

Bpay has been developed using the state-of-the-art Ethereum blockchain technology and smart contracts. This decentralized platform allows withdrawing, accepting, and keeping track of traditional as well as cryptocurrency funds in different trading transactions in both offline and online methods.

Within the scope of virtual platforms such as e-shops, exchange offices, online services, stock exchange, etc., this platform will ensure trading transactions can be carried out between buyer-seller traders.

The services provided by this platform are based on the principle of payment aggregation. This ensures the account and exchange of different digital assets as a payment method into local currency, with or without subsequent conversion, depending on the preference of the seller.

How does Bpay work?

It is important to understand how this platform works before choosing Bpay. The working process for both the buyer and the seller is completely different.

For buyers

1. Buyers do not need to download or set up anything.
2. They need to scan the QR code and copy the recipient address for sending the payment in fiat or cryptocurrency.
3. Within two seconds, the system will then receive the information about the transaction and the digital transaction will go through.

For sellers

1. It is essential for the sellers associated with this platform to first open an account.
2. They can then systematically integrate the code provided by the platform on their website in order to access and track the purchase and then send money from their personal account or bank account.

Distinctive features of Bpay

The Bpay platform is precisely developed and designed by a team of experts to support as many digital currencies as possible. The majority of traditional retailers support only credit cards and cash payments. Retailers will be able to accept cryptocurrencies through their website by systematically integrating the Bpay system plugin.

They will be able to make instant payments in local currency transferred immediately to the bank account of the company. The sellers will be able to accept cryptocurrency as their basic currency by realizing their internal translation. The seller receives the payments in fiat currency with a possibility of a further transfer as a payment method when the client pays for the goods or services in different cryptocurrencies.

The target audience of this platform

• Offline service centers.
• Offline sales outlets.
• Delivery services.
• Online stores.

Benefits of using Bpay

There are many benefits to be had when buyers or sellers apply this platform to their digital payment (fiat as well as cryptocurrency) processing needs.

Some of the benefits of using this platform are as follows:

• Provides users with 24/7 support.
• The withdrawal of funds from a personal bank account is possible within 24 hours.
• Fraud protection.
• The withdrawal of funds to the personal cryptocurrency accounts of the users.
• Protects users against market volatility
• The platform can accept a maximum pool of cryptocurrencies.

Benefits for the seller

1. Assuming the seller’s interaction with any other blockchain protocols, the main benefit of this platform is the “single window” concept.
2. The seller can engage a wide financially-reliable audience by using this platform and receive payment on their account in their preferred fiat currency.

Benefits for the buyers

1. The major benefits of this platform for buyers are anonymity and secrecy.
2. In case of not receiving services/products, the transactions will be guaranteed by a money back.
3. When the funds are sent the seller’s account, Bpay.io appears as a backer of the transaction up to the moment.

What does Bpay aim to be?

This project sees the future of digital currencies in the expansion of the scope of application different types of cryptocurrencies. It will trigger the start of the interaction of digital assets and the real economy. The team will launch new impulses for the purpose of a broad-based adaption of the blockchain technology in any and all the fields of life.

One of the long-term goals of the Bpay platform is integration into the offline economy in addition to serving as a payment gateway in the virtual environment.

Bpay.io Retail

1. After the integration and realization of a payment gateway into online services, the development team plans to design systems for acceptance, accounting , and withdrawal of digital currencies for the offline environment such as flower shops, freight outlets, and coffee shops.
2. The main goal in the retail niche, is the extension of the client base around the offline market and expanding the growth of the business turnover.
3. The utmost simplification of the software is, therefore, the objective for the second phase of development of this platform.

Connecting to Bpay.io Online and Bpay.io Retail

Online shops, sale outlets, companies, businesses, and individuals must integrate this platform into their payment methods. One should possess a certain number of BUY tokens for a one-time payment to connect this platform to the system.

1. 500 BUY is the starting fee that businesses need to pay for the connection to Bpay.io.
2. In order to connect to the Bpay retail platform, retail businesses need to pay 1000 BUY tokens.

It is essential to understand that for sellers, the benefits of using this platform are beyond doubt since this connection will efficiently change further cover the transaction fees.

Transaction fees

1. A simple and easy-to-use payment system with the lowest possible transaction fees (1%) is one of the primary goals of the team behind this project.
2. The user-friendly interface of this platform will provide users with the option of systematically and efficiently planning expenditures of transaction fees. This will be done with regard to the data about the actual and anticipated business turnover of the business.

Ethereum digital exchange (Edex.io)

To provide the users of this platform with a convenient, fast, and secure cryptocurrency exchange platform, the team behind this project seeks to develop a branded trading platform, which will be called Edex.io (Ethereum Digital Exchange).

1. The business module of this platform will be based on the serious functionality of tracking coin trade on a number of exchange markets around the world.
2. Buyers and sellers will be able to conduct the constant tradability of their BUY tokens on the exchange platform.

Traders will be allowed to make the direct instant exchange of cryptocurrency such as BUY tokens to offsetting orders in the platform. In case of insufficient liquidity in the underlying exchange markets and/or due to the unavailability thereof, the exchange platform will provide the traders with an excellent opportunity for the independent exchange of BUY tokens on this platform.

This exchange will provide an excellent opportunity for the listing of BUY tokens once it is launched.

What problem is Bpay.io (BUY) solving?

1. Accessibility problems

There are still a number of problems associated with the international payment system despite the acceleration of globalization processes. In total, 62% of adults around the world have a bank account or access to financial structures. There are more than two billion people worldwide who do not have bank accounts, despite the popularity of innovative bank-related technologies in a number of developing countries. People without a bank account receive their salaries in cash. The money is then used for shopping for goods and services, etc.

2. Security of traditional systems in question

A significant problem for the international banking business is the risk associated within security systems. According to certain research conducted by the specialists of Kaspersky, it is estimated that the average aggregate loss from one successful attack amounts to more than USD926, 000, including lost income, insurance and compensation to clients, reputation harm, and outsourcing expenditure.

The average loss amounts of USD2.1 million, according to statistics, of POS-terminal attacks are especially devastating for banks. The average loss is followed by threats associated with attacks on gadgets and mobile devices, which will amount to USD1.6 million for each successful unauthorized access.

Irreversible damage will be caused by hacker attacks to financial organizations, which will amount to USD1.3 million on average. In recent years, cyber fraud has caused significant financial damage, as reported by 70% of banks. As a result of these increasing losses, the banks have no choice but to intensify protection mechanisms. The improvement in the protection of apps and websites is now a priority for banks.

When it comes to the protective measures being taken banks, the niche integration of authentication systems is in second place. Bankers around the world believe that in the near future the costs spent on security will only increase.

Solutions provided by Bpay

Bpay is a decentralized platform that is developed for secure and transparent transactions of all the traditional funds as well as cryptocurrencies. The blockchain-based platform will be able to process transactions at any time and from anywhere. The platform will be appreciated for its convenience and security.

Bpay (BUY) token price and token sale

The BUY token will be used to connect to Bpay.io online and Bpay.io Retail. It will be used in the system for all transaction fees. The BUY token is built on the Ethereum platform and is compatible with ERC20 standard just like other ICO tokens such as Bitnation, Cappasity, Lotuscore, DIW, World Wifi, PumaPay, ShopIn, BunnyToken. In addition to this, the token will be used for participating in digital currency exchange transactions.

BUY ICO details:

• Token name: BUY.
• Maximum token emission: 1,000,000,000.
• The currencies of purchase: ETH, ETC, NEO, BCH, and EOS.
• BUY ICO start date: March 14, 2018.
• ICO end date: April 11, 2018.
• Price: USD0.08 = 1 BUY token.

How to participate in the BUY ICO sale?

Interested investors can subscribe to the official website with a valid email address and KYC to take part in the pre-ICO and ICO sale of BUY token.

BUY token distribution

• 5% of the tokens will be issued for marketing and the bounty campaign.
• 10% of the tokens will be issued for strategic partners.
• 10% of the tokens will be issued as a pre-ICO sale.
• 25% of the tokens will be issued for the team and core clients.
• 50% of the tokens will be issued for sale during the ICO sale.

Funds allocations

1. 10% of the funds collected during the token sale will be used on legal services.
2. 10% of the funds will be used for the lobbying of company services of large online and offline merchants.
3. 15% of the funds will be used for operational costs, such as setting up offices in different operating countries.
4. 15% funds will be used for marketing of this platform.
5. 50% of the funds will be used for the development of the platform.

The team behind Bpay

The key members associated with this project include:

• Alexander Peterman, CEO and Co-Founder.
• Oleg Prolubshikov, Blockchain Architect.
• Aleksey Bondarev, Product Designer.

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