30 Sep 2022 By PAYCEC
First, let's go over why blockchain is still in existence today:
In short, payment processing using blockchain is quicker and more cost-effective since there is no third-party intermediary.
For instance, PayCEC charges customers 1.5% per cryptocurrency transaction , while they are charged 3.4% per card transaction.
However, we must not ignore blockchain's concerning drawbacks. To access the Bitcoin wallet, you must first own a key, and you will run the risk of losing your wallet if the key is missing.
Besides, the price of bitcoin fluctuates constantly; it can plummet and skyrocket to its peak, after which the market will quickly lose momentum.
For the time being, all we can say is that blockchain technology will be used much more for preventing fraud in many fields such as provenance or property rights.
But can blockchain replace banks? Only time will tell.
If you need further assistance or answer, please don't hesitate to contact us.
We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.
Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.
PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.