Thus, Coinbase Pay, dedicated to solve the problems in cross-border payment in the new market, came into being.
What is Coinbase pay?
Coinbase Pay is a project of public chain that originated in the European financial industry and focuses on the block chain and financial payment. Coinbase Pay can greatly reduce the handling fees of cross-border payments and increase the rate of cross-border payments.
Shown with specific data, Coinbase Pay has the following advantages:
Payments in a Second
Coinbase Pay can complete the confirmation of cross-border transactions within 0.1 second, which is a revolutionary improvement in experience for financial payments, especially cross-border payments.
$60 billion Investment
Thanks to the excellent experiences in payment, Coinbase Pay covers nearly half of financial institutions in Europe and the United States. As one of the indispensable tools for European and American companies to make cross-border payments, it has also won the favor of major investment banks with a total investment of 60 billion US dollars. The daily transaction volume made through Coinbase Pay, reached tens of billions of dollars.
Opportunity for Indians
At present, Coinbase pay is planning to enter the Indian market triumphantly and has initially established partnerships with all major banks in India, with the goal of providing users with the best exchange rate and fastest speed. We have signed cooperation intentions with more than 500 merchants of various types. In the future, we will set up more than 1,000 offline exchange service points in India
Super Fast Speed of 50000/s
As a global public chain of payment, Coinbase Pay has excellent performance, and its TPS has reached an astonishing speed of 50,000TP/s, which is fast enough to meet global payment needs and is a veritable tool for global payment.
Comparison with peers
Compared with traditional methods of payment, Coinbase Pay is both favorable and convenient. Do you remember the terrible experience of filling in many complicated forms at the bank when sending money abroad? Coinbase Pay can save you both time and labor.
Security is prime focus
One of the best applications of Coinbase Pay is that compared to traditional methods of payment, Coinbase Pay is committed to developing a blockchain-based payment ecosystem and expanding the application and technical boundaries of blockchain technology, so that ordinary Internet users can enjoy its advantages thus making sure of payment security.
Coinbase Pay vs. Ripple: What’s the Difference?
The design of the Ripple network naturally has a risk of redemption. In the Ripple system, the gateway works as the gate for users’ funds to enter and exit the Ripple system. When the user deposits the funds in the gateway, the exchange is actually made in virtual currency and the actual funds are in the control of the gateway boss. If the gateway boss runs away with the money, these virtual currencies cannot be realized at all. However, Coinbase Pay accelerates the speed of financial payments with a completely decentralized operation, reduces transaction costs, and ensures that transactions are true and effective without operation funds. A financial system that realizes global collaboration. The global cross-border payment is always controlled by SWIFT, and Ripple has never entered the largest and high-quality market of multi-financial institutions. Coinbase Pay establishes the financial service center in each country, and cooperates with local banks and financial institutions to build a global payment ecosystem.
Acceptance and Payment System of Coinbase Pay
Similar to other exchanges, Coinbase Pay also has its own acceptance and payment system. The USDT acceptance and payment system of Coinbase Pay is developed with decentralized technology. Both parties in the transaction no longer need to rely on a central institution for fund settlement, and can directly finish the value transfer based on a consensus mechanism algorithm that does not require trust and coordination. Therefore, Coinbase Pay provides a better solution for cross-border payments than traditional telegraphic transfer.
Features of the Acceptance and Payment System of Coinbase Pay:
1. It adopts USDT, a mainstream and stable settlement currency in the world
The USDT, with stable currency value, is more suitable for daily payments and transactions. USDT is anchored to the U.S. dollar, and there is no sharp price fluctuation. As the pricing standard of the platform, it is equivalent to the U.S. dollar, so that it is easier for customers to understand and accept it.
2. The channel will never be blocked, and the funds will never be frozen
Digital asset transfer is a distributed point-to-point accounting system based on blockchain. It is independent of the payment system and only requires a series of digital passwords and digital wallet address to complete transfer payments. It has the characteristics of concealment and decentralization of blockchain technology.
3. C2C point-to-point distributed transactions between individuals
Global transactions in digital currency are all point-to-point transactions between individuals. Funds are spread and channels will not be frozen.
4. Efficient, the funds can arrive quickly within 5 minutes
Based on Lightning Network and blockchain technology, Coinbase Pay has developed a mature and efficient payment settlement system that makes customers to receive the payment within 5 minutes, which is much faster than the T+1 payment, and fund recovery is more efficient and securer.
5. Open API interface to access various platforms, the operation is extremely simple
Customers do not need to operate on other platforms. Coinbase Pay has an open API interface to access the deposit pages of major platforms. The blockchain payment system can be connected to any industry website system without restrictions.
The mission of Coinbase Pay is to realize reform and innovation in the traditional payment industry, and it is committed to solving the problems of global financial settlement and payment. Its vision is to create a truly decentralized and open international financial ecosystem in order to reshape the cross-border financial structure. In the long run, this is a blockchain project worth implementing.
You can join as a Service Provider in Coinbase Network and earn income regularly. A fixed income and investment of time in future technology.
Sign up with a global payment service provider by clicking on below link.