PayAccept AMA Recap Crypto Revolution Telegram group
On 18th of December, PayAccept conducted an AMA on Crypto Revolution Community. Our guest was Christiaan van Steenbergen, Founder of PayAccept. Impressive interest from our Community with a lot of questions on both Twitter and Telegram. Let’s take a look at most interesting points of the AMA.
INTRODUCTION AND TWITTER QUESTIONS
Danny | Crypto Revolution: Okay guys. It’s time for another portion of Crypto Revolution AMAs. Let’s welcome PayAccept. Chat is muted. Welcome, Christiaan. Happy to have you with us today.
Christiaan: Thank you Danny, happy to be with you all today.
Could you please introduce yourself and tell us how did you get involved into Crypto?
Christiaan: Ofcourse. I’m Chris van Steenbergen, founder of PayAccept, which I started in August 2020. I’m involved in crypto since 2017 and this is my second ATH moment with Bitcoin which I witness. The future of crypto is great and I’m sure PayAccept can have a significant role in this.
Danny | Crypto Revolution: Did you make good Profit during the first BTC ATH?
Christiaan: You need to know when it’s ATH, if you are too late, you can also go down with the investment. I’m more an overall holder of crypto.
Danny | Crypto Revolution: That’s great. You just said future of Crypto is great. Why you think so?
Christiaan: First, more and more companies and people are entering the crypto community space. Second, we see many innovative projects that are financed without the intervention of a bank. And this is only the beginning.
Danny | Crypto Revolution: But as well we see so many Rug Pulls happening. This is making so many people scared to enter Crypto in my opinion.
Christiaan: That can be improved a lot. But it will have an effect on the decentralized way of cryptocurrencies. Somehow you should indeed have some kind of auditor who makes sure that people are not getting involved in ‘scams’ and ‘rug pulls’. You could already absorb a part by freezing the funds of parties that are doing these activities.
Danny | Crypto Revolution: Yeah. This will be good. Also the other thing we see so many people in Crypto entering just for the Money. They don’t even care in what they invest. You think this will change in the future?
Christiaan: I agree with you there. Some go for the quick profit and they like it, they ride on the pumps and the waves. That will always stay.
Danny | Crypto Revolution: True. Could you please describe what is PayAccept in few simple sentences?
Christiaan: PayAccept is revolutionizing the way we manage payments. By combining traditional and Decentralized Finance (DeFi) and offer access to fiat, cryptocurrency, lending, card issuance, payment solutions, and risk management services.
Danny | Crypto Revolution: Wow. This is huge than. Cause I use all of them. So with PayAccept will be more simple.
Christiaan: We combine it and make it available for crypto customers. With the above three companies you have always the risk that they block your account if you do too much crypto.
Danny | Crypto Revolution: Yeap. Already experienced that.
Christiaan: For example, if you get this question with onboarding: ‘Are you active in cryptocurrencies’ and you answer ‘yes’. You get the message: Sorry we cannot go further with the application. Same with most banks and other financial institutions.
Danny | Crypto Revolution: Do you have already working Product or it’s in Development?
Christiaan: We are testing at the moment our terminals and cards. That our the products which we deliver in Q1 2021. Our services goes online as well. But let me tell you what we did from August 2020.
Danny | Crypto Revolution: Go ahead please.
Christiaan: In August 2020 we did our IEO and hit the softcap. That is the first milestone, after that we got listed on 10 exchanges (Stex, Cointiger, Hotbit, Bilaxy, Uniswap). In October we started with the developments of the PayAccept platform, start with staking on Ferrum and signed up Digibytes as a listing partner.
In November we showcase our services (wallet, staking, yielding, crowdfunding and swapping to the community).
And last weeks we expand our team with a CTO and CFO, which are professionals with a proven track-record in the fintech sector.
Before I forget to mention it, after the IEO, we started to fix the paper works to get the EMI license in place.
Danny | Crypto Revolution: Really impressive. You already did a lot of work.
Christiaan: Getting an EMI license takes 12–15 months. So we have a solution, so we can start deploying our products and services earlier. So we signed up with a company which already have an EMI license so we can start and in parallel our own license is in the process.
Danny | Crypto Revolution: Do you still work closely with Ferrum?
Christiaan: Yes.
Danny | Crypto Revolution: Nice. I know IAN and Ferrum team. They are really good in what they do. Could you please share your services with Community? I guess you have Video or Articles?
Christiaan: We have, but let me have a look into it.
Danny | Crypto Revolution: No problem. In the meantime you just released your new Website and WhitePaper right?
Christiaan: This is our swap application including with staking and yielding. But there is a lot more.
Danny | Crypto Revolution: We are looking forward to it. As you mentioned what the team did last few months what you did and planning to do like Marketing to bring more Exposure for PayAccept?
Christiaan: The only marketing we did was for the IEO, to make this successful so we could build up the company. And we are going to ramp-up the same marketing again, 2–3 weeks before we launch (so in January 2021).
Danny | Crypto Revolution: So January will be very exciting.
Christiaan: For sure, cannot wait, since we will have also some additional investors which are coming onboard and we will join ‘Crypto Valley (Zug)’ as well.
Danny | Crypto Revolution: Wow. Great. Where people can buy PayAccept at the moment and few words for Tokenomics please?
Christiaan: Best and fast way is on Uniswap -> https://info.uniswap.org/pair/0x7b49e2c4764b14a5d8306aa7c12e1d111f04ca6e.
Tokenomics are as follows:
Max total supply -> 30,3 M
Team tokens -> 5M
Marketing tokens -> 5M
Circulation supply -> 4M
The rest up to 30,3M will be yielded over the coming years.
Marketing tokens which we don’t use will be burned. That will happen end of this month, since we already distribute most of it.
Danny | Crypto Revolution: What you prefer and you personally use more DEXs or CEXs?
Christiaan: A combination of it. DEXs are slow, CEX’s are mostly a big database and a single-point-of-failure. We are building by the way on top of NEXT.chain which have a strong blockchain network with masternodes and miners. The speed is amazing on it, they support instant transfers.
Danny | Crypto Revolution: That’s good.
Christiaan: By building PayAccept on top of it, we make sure we have the speed and be fully decentralized.
Danny | Crypto Revolution: You know most of the people will ask.
Christiaan: I know, we can always put PayAccept on Binance smart chain, or when Binance is doing a great offer we are always looking into it to get listed there.
Danny | Crypto Revolution: Thank you, Christiaan. Time flies. Lol. Jumping to Twitter questions now.
Q1 from @Bozkurtah62
This is an ambitious project. What about competitors in the market? How do you stand up to the big players, whether in the centralized or the decentralized space?
Christiaan: At the moment you see that the major players like Revolut offer crypto via one-way traffic. You can buy bitcoins with your credit card, but you cannot put bitcoins back on it (so NO cash out). In addition, they are not making good use of this opportunity, PayPal will also offer cryptocurrencies, but I’m almost sure it will be also one way traffic. PayAccept doesn’t see this as a good solution. If you integrate crypto then do it completely and let the user have the freedom to buy, trade and convert crypto back to fiat and visa versa. I’m sure with our product which we offer globally more and more users will enter into our services. The fiat on/off ramp will gives us a unique position, together with innovative solutions, like swapping coins in the easy way.
Danny | Crypto Revolution: What will be the taxes to use all this services. For example for me personally I hate PayPal taxes.
Christiaan: Depend on the country you are living in. So I think you mean fee’s.
Danny | Crypto Revolution: Yeah fees.
Christiaan: The fee’s of PayPal are high, but they are a big player as well. So to compete with them, we will offer e-commerce solutions as well. One-Click Crypto payment. Anyway we will have also fee’s but not as high like them.
Q2 from @Magnatech_ve
I have been a Paypal user since its inception, without a doubt the blockchain won the race. What would you say to these users to encourage themselves to use your services again without fear of the reversals of your platform?
Christiaan: The foundation must be fair; we are clear from the start to our partners that we work with cryptocurrencies and will remain so. We note that many parties are still reluctant because of the risk profile, but setting up a KYC / AML department where we relieve this burden for parties and regulators ensures that a trustworthy and reliable partner is launched in the market. We do not care whether a customer is just doing cash or cryptocurrencies; it is merely a way to transfer a specific value, whether through paper or bits.
Danny | Crypto Revolution: Yeah and I love that!! This is the way to do it!
Q3 from @Victoria20kBTC
What is PayAccept and what was the reason behind starting this project? How optimistic are you of the future use-case of the PayAccept compared to when you started it?
Danny | Crypto Revolution: Chat be ready for Quiz Part as we are getting close. You answered big part of this one already.
Christiaan: We are still very excited about our product and services. The EMI-license makes us unique, and we can offer bank accounts in the wallet where you, as a user, can convert and swap between the digital assets we are offering. The developments are going in the right direction, and I think now is also the time to join PayAccept. We started the project to change where cryptocurrencies can move freely and make this available to everyone (with good intentions). That is what we still miss in this market, and we want to offer a reliable solution. Time for the quiz.
Danny | Crypto Revolution: Let’s hit it, Christiaan.
QUIZ PART
Question: Which companies you are using at the moment to store your cryptocurrencies?
Best answer: Binance, Trust Wallet, imToken, TronLink Pro, Metamask… I like spreading it out because of fear of security from hacks.
Question: Why would you use PayAccept or what improvements should be done?
Best answer: I would use PayAccept as a method to store cryptocurrencies but also as a bank for fiat. I simply would love an “all-in-one” package. Sending fiat to friends etc.
Question: What you think what will come after DeFi?
Best answer: NFTs, IDO trends, Boom of Huobi Eco Chain And Binance Smart Chain…
Question: The future is crypto and bitcoin is ATH! What the market needs to do to get cryptocurrencies into the mass market? What should be the killer service/product you are waiting for?
Best answer: Well simply gain more adoption and as we saw recently, many big institutional players are entering the space all the time. Eventually this will lead to the mass public entering crypto as well. I was just yesterday looking at graphs which show that the interest towards crypto has not much increased since 2018 even if we’re at ATH. But surely when these news on the media about constant ATHs etc. occur, we’ll see more and more people joining. And in general also real-life solution projects such as PayAccept which are a good way to increase adoption.
TELEGRAM QUESTIONS AND CONCLUSION
Danny | Crypto Revolution: Over 1000 Questions man.
Christiaan: Should I answer them all right now?
Danny | Crypto Revolution: Yeah. Haha. Just pick up the ones you like.
Christiaan: Let me make a blog of the questions and put it online in a few days from now? Is that fine with you, so it gives me time to go through all the questions. I’m sure there are some good ones also.
Danny | Crypto Revolution: Yeah man. We can do that actually. Since is many of them and I’m sure some people spammed their questions few times. So in this AMA we will do that. So now you can say Final words for Community. And we will be looking forward for the Answers of Community Questions in few days. Anyway this was one of the longest AMAs here. Lol. 90 minutes. Christiaan?
Christiaan: Yes final words, sorry was reading the questions in between. I would like to thank everybody for their input and time regarding this AMA. I hope we give you a positive feeling about what PayAccept is doing into the market and we are welcome you to use our services and products in 2021. For now stay safe and enjoy the end of the year.
NOTE: Christiaan will answer the Questions from Community in his blog!
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Website: https://www.payaccept.net/
Telegram group: https://t.me/payaccept
Twitter: https://twitter.com/payaccept
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