Crypto adoption, especially from the average person, is the goal of most blockchain projects. It extends beyond having top organizations and countries announcing they are purchasing significant amount of Bitcoin. Although the issue of crypto transfer remains a major problem, SoftNote.Cash is here to revolutionize cryptocurrency transactions.
Since Bitcoin went mainstream, the issue has been about using this medium of exchange for everyday purposes. The unscalable nature of cryptocurrencies mean that institutions are the major users of these digital assets. Despite the seemingly limited nature of the first crypto, innovative solutions like SoftNote.Cash are making cryptocurrency transactions easier.
This article will outline how people can enjoy more efficient and cheaper Bitcoin transfer. Before then, let’s outline the challenges of sending and receiving cryptocurrencies.
Sending and receiving cryptocurrencies can be daunting for many users. The process often feels complex and overwhelming. Hence, the reason many individuals are still skeptical about using cryptocurrency for payments.
One major issue is the use of complex wallet addresses that comprise long strings of letters and numbers. It is unlike your regular bank detail, whereby you can simply call out your account information to someone. A small mistake in typing can lead to lost funds.
Therefore, people must have their phone or other means through which they can copy the wallet address. Although centralized exchanges and newer medium are providing alternatives, their solutions are still limited.
Besides the cumbersome wallet address, choosing the right network for a transfer is also confusing. Different cryptocurrencies operate on different networks, and selecting the wrong network can result in failed or lost transactions. This is a common mistake that many users make, which results in lost funds that can never be recovered.
This challenge is very common with certain tokens that can be sent via multiple networks. For example, TET is available on the ERC-20 and T12 networks. Sending your friends Tectum tokens via ERC-20 when their receiving wallet is in T12 can lead to permanent loss of funds.
Slow transaction speed is another challenge, especially when the network takes hours to confirm. This delay can be frustrating, especially when you need quick transfers in dire situations.
Like slow networks aren’t bad enough, people have to deal with expensive transfer fees can also be a problem. Despite the gas fees dropping to an all-time low, people are still forced to pay as high as $38 per transaction.
Some cryptocurrencies have high transaction fees, making small transactions very costly. Users often feel that they are paying too much just to move their own money.
Tectum SoftNote.Cash is reinventing cryptocurrency transactions by introducing more efficient measures. One of them includes the use of mini-wallets that allows people to split their portfolio into smaller units. Instead of sending tokens from one person to another, users simply exchange ownership of the wallet.
More so, SoftNote.Cash is beyond breaking tokens into smaller units for transacting. This crypto cash has the most intuitive interface of all available cryptocurrency payment solutions. People can send, receive and extract their portfolio from these mini wallets in no more than 3 clicks.
The real icing on the cake is that you do not really have to own a wallet to use this service. Think of it like a credit card that is not linked to any specific bank account. You can easily set a limit and give it to someone else to spend no more than the maximum limit. The only major difference is that the user has to add the token meant for spending by themselves.
SoftNote Bills are dedicated “carriers” that people can fill with BTC, USDT, ETH, and other cryptocurrencies for spending. They are not directly linked to any specific blockchain wallet, making it easier for people to exchange ownership. This method is faster and more efficient than sending crypto through wallet addresses.
Looking at the section above, the benefits of using SoftNote.Cash for cryptocurrency transactions are already evident. First aspect if the issue of security, especially as they are not linked to a blockchain wallet. Since the bill is not linked to an account, anyone who steals the bill can only get what is stored on it.
Meanwhile, stealing the funds stored on a SoftNote Bill is easier said than done. In fact, it is practically impossible. Just like with your credit card, SoftNote.Cash has a unique passcode that only the user knows. Therefore, anyone who steals it must get that passcode from the user to get the funds with the bill.
Good luck to anyone who wants to steal it. That’s not all, as this unique passcode changes after every transaction. Therefore, even the previous owner cannot steal back a note after using it for payment.
In addition to security, individuals get lightning-fast transaction speed. Built on Tectum – the fastest layer-1 blockchain, cryptocurrency transactions done via SoftNote.Cash are instant. There is no waiting time, delayed transfer or network congestion.
Finally, this service offers the cheapest gas fee on the planet. Imagine paying a meager $10 as gas fee for sending $1000 worth of Bitcoin. It does not get better than this.
