Bitcoin and Altcoin Surge: Uphill Challenges for Exchanges and Crypto Services”
As Bitcoin (BTC) and major alternative cryptocurrencies surge in value, exchange services face mounting pressure. Here’s how underlying systems continually cope with increased traffic and fresh demands.
Bitcoin’s (BTC) Upward Thrust: New Challenges for Exchanges
Bitcoin (BTC), the leading cryptocurrency, has surged by over 175% since January 2023. Some of the major alternative currencies showcase even more impressive gains. Consequently, the active accounts and transaction counts have increased by 2x-3x.
While this surge is positive for the cryptocurrency sector, such rapid increases in blockchain activity strain the infrastructure of Web3, the blockchain itself, and exchange services.
Racing toward the peak stages of this upward trajectory, reputable cryptocurrencies strive to fortify their infrastructure and service suites to cater to a new wave of eager and prepared investors. As prices skyrocket, client categories are keen on swift asset transfers, round-the-clock reliable support, and simplified cryptocurrency-to-fiat conversions domestically and internationally.
Platforms like Paybis, a seasoned cryptocurrency exchange, aim to tackle all the challenges posed by the surging market. They offer a high-performance platform for converting cryptocurrencies into fiat currencies, boasting a user-friendly interface and multiple payment methods for fiat users, along with a strong reputation in various global regions.
Enhancing Customer Services at Paybis
Since late Q4 2023, Paybis has provided a secure exchange between cryptocurrencies and major global fiat currencies. Users can seamlessly purchase Bitcoin (BTC) using Euro, US Dollar, Canadian Dollar, British Pound, Swiss Franc, and dozens of other currencies from Asia and Latin America.
In addition to Bitcoin (BTC), Paybis supports a remarkable array of altcoins, including the leading smart contract platform Ethereum (ETH), major Bitcoin forks, Litecoin (LTC), Bitcoin Cash (BCH), popular meme currencies like Dogecoin (DOGE) and Shiba Inu (SHIB), prominent DeFi tokens like Aave (AAVE), Sushi (SUSHI), Uniswap (UNI), next-gen AI-driven cryptocurrencies like Fetch.AI (FET), Ocean Protocol (OCEAN), and more. Overall, support extends to over 50 different cryptocurrencies.
Moreover, to ensure frictionless value transfers, the platform has integrated various fiat funding methods. Paybis supports payments via credit cards, bank transfers (wire transfers) from accounts in specific jurisdictions, and transfers from digital payment processors like Skrill, Giropay, AstroPay, and Neteller.
The platform offers global coverage in over 180 countries and 48 US states. Registered in the United States as a Financial Services Company under the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) with registration number MSB 31000224635628, the team holds a VASP license to operate within the European Union fully compliantly. Despite stringent regulations concerning cryptocurrencies, EU member states remain of paramount importance for global Web3 adoption.
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Over the past few months, the Paybis team has heavily invested in technology development and service compliance. Particularly successful is their deployment of advanced fraud prevention software backed by AI to prevent user assets from falling into the wrong hands. The experienced compliance team focuses on maintaining security, alongside a workforce of over 100 specialists capable of covering operational sustainability.
User-Friendly Cryptocurrency-to-Fiat Exchange for Novices
Since its inception in 2016, the exchange prioritized maximum user-friendliness and simplification of the user experience to meet the needs of various customer groups. As of 2024, purchasing Bitcoin with US dollars takes just three steps after registering an account on Paybis.
Traders can execute transactions on their smartphones, as Paybis has developed convenient apps available on Google Play and the App Store.
The platform and its apps have gained popularity among traders worldwide, having processed over $2 billion. The exchange boasts a 4.2 out of 5 on TrustScore based on a vast 19,896 real trader reviews.
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Apart from B2C customers, Paybis offers digital asset solutions for institutions. Its white-label offering enables third-party sites to activate their internal and external ramps. For mobile app developers and marketers, Paybis released MobSDK, a robust suite for software development focusing on smartphone applications across platforms.
In this manner, Paybis has established itself as a trustworthy, secure, and beginner-friendly platform for purchasing BTC and altcoins with fiat available in various regions
Important Notice: The content of this article is for informational purposes only and should not be construed as financial advice. Chinwa.tech assumes no responsibility for any investment decisions made based on the information provided herein. It is strongly advised to seek the guidance of a qualified specialist or financial advisor before making any investment choices.
