Fiat currency is key to Photochain’s vision
Thanks to our strategic partnership with TokenDesk, we are now accepting fiat currency- incl. Visa/Mastercard payments — for our ICO. This is a really important addition to our ICO participation, as many of our supporters from non-cryptocurrency backgrounds were understandably hesitant to take part using cryptocurrencies.
Our vision for Photochain has always been inclusive of both those with cryptocurrency knowledge and those without, as our internal PHT-fiat exchange will make it possible to purchase images from the platform with fiat currencies. Now due to demand, we’ve also opened our ICO to fiat participation.
How to join the ICO with fiat currency
We’ve made the process as simple as possible. To join our ICO and to buy PHT tokens in fiat, all you need to do is go to our homepage and click buy tokens. As shown in the image below, you have the option of Visa/Mastercard payments or SEPA bank transfer (EUR only), as well as in cryptos.
By following through the process, you will be directed to TokenDesk’s website, where you must complete a KYC (know your customer) with them. You will also be asked for a receiving wallet address — this is where you will receive your PHT tokens. Myetherwallet.com is an easy-to-use, secure wallet. You may also use any ERC20 compatible wallet of your choice.
If you have any issues or any questions you’d like to ask about the ICO or anything to do with Photochain, please ask in our Telegram chat or chat with us anonymously via our homepage chat.
Fiat currencies on the Photochain platform
As mentioned, we are big believers that blockchain applications should be accessible for all — with minimal cryptocurrency knowledge. This is why we are developing an internal fiat-PHT exchange for the live product release.
Buyers and sellers are both able to benefit from transacting with fiat currencies rather than crypto. Prices can be set in fiat, simplifying the process for photographers who don’t feel (or not yet feel) comfortable dealing in cryptocurrency.
Fiat users will still get the same benefits as those who transact in PHT tokens. Each fiat transaction for an image is automatically converted to PHT token and back to fiat, in between the buyer and the seller, so that licensing and other necessary information is stored on the blockchain. Hence there is no discernable difference between buying images in PHT or in fiat, it is simply a matter of personal preference.
To accept fiat for both the ICO and for the live platform is great news for our community. With this flexibility, users of all types no longer require additional cryptocurrency knowledge to participate. This is a key feature of Photochain, to be simple and intuitive to use, inclusive to all potential users and driving mass adoption.
