Introducing Demystify
Cryptocurrency Gift Cards
Vision
Our main goal is to make blockchain technology available, clear and appealing to the mainstream. At Demystify, we envision a future with absolute freedom of cryptocurrency. We want to bridge the gap between the general public and cryptocurrencies.
The problem
The average consumer needs a way for inexpensive, fast; and most importantly, easy entrance to the cryptocurrency market. There are many people who are hesitant because of the complexities. Most consumers who would try crypto for the first time resort to contacting a friend, buying it from an ATM , an online vendors like coinbase or an exchange. These ways impose:
1) High fees ( ATM’s, coinbase)
2) “Full KYC and technical abilities” (exchanges); which means delays and complicated user experience
3) Limited locations (ATM’s)
The solution
Demystify is an “entry point” for consumers to buy cryptocurrencies through “gift cards”. The purchased cryptocurrencies are available in an integrated wallet within the application. An “Arbitrage algorithm” allows buying cryptocurrencies at the cheapest price offered at the global market. The proposed solution addresses the mentioned concerns:
1) Cost-effective Our “Arbitrage algorithm” screens the market (there are currently about 400 exchanges worldwide selling different cryptocurrencies) and would find the best price for the selected crypto.
2) Fast The customer can create a profile in a few seconds, then without KYC delays (Know Your Client) can purchase crypto. (FYI: considering certain conditions and restrictions)
3) Easy The application is accessible to the average client. Basically, just with few clicks and the purchase is made. The customer doesn’t have to worry about: price fluctuation, how to get verified and access an exchange, how to bid for the best price, to which wallet to transfer the purchased cryptocurrency ..etc.
Conclusion
By the combination of the “arbitrage algorithm, “the use of a tangible product like gift cards” and “integrated Wallets” Demystify offers an elegant solution for the discussed issues.
