Monarch is a project utilizing blockchain technology to develop a mult-functional payment system. Many cryptocurency holders face problem with usage of it in making payment as many online market are yet to integrate cryptocurrency as a mode of payment just like some other common mode of payment such as paypal. With the Monarch platform which will be available in both apple store and on window, many of the barrier between crypto, fiat and other online digital currencies will be broken.
For the purpose of our cryptocurrency enthusiast, ICO KICK will explain in this article what to expect from monarch project and what make monarch payment unique from other payment platform available today on the internet. To merchant, transaction fee is very important and it one of the basis for choosing which payment platform to use. With the monarch platform, the seller fees is just 2% of the fund received by the merchant. This is considerably low compare to other platform such as paypal, Venmo and Request Network. Through multiplicity integration with major cryptocurrency exchange providers. traders will be able to buy and sell cryptocurrencies at the best price. Monarch will achieve this through an arbritrage which is combine with analytical engine.
Monarch platform will be compatible with many cryptocurrencies available today in the market, namely, BTC, ETH and other ERC20 supported tokens. As the usage of the platform increase, others will be added. Through monarch platform, users will be able to make recurring payment for both fiat and also cryptocurrency payment on a particular patent pending platform. This feature distinct monarch from other payment platform available on ther internet. This is possible through the use of off-chain solution which grant users access to schedule payments between many parties. Also monarch intend to introduce an exchange platform as soon as the daily volume and number of platform users increase. Fund being generated will be use in establishing a fully functional peer-to-peer exchange through which users will be able to trade from other cryptocurrency back to fiat. All transaction will be handled instantly on the monarch platform unlike some traditional payment platform where transaction are processed manually.
Monarch platform will have two wallets. The hot wallet and the cold wallet. The cold wallet will serve as the crypto saving wallet and each users on the platform will hold their own private key to this wallet. This give opportunity for users to benefit during hardfork of crypto. The wallet will support all ERC20 token which will alow them to participate in many intial coin offering with ERC20 base token. the hot wallet is the common wallet for instant transaction. All the wallet will be fully secure. Monarch will also offer subscription management services through which subscription services such as amazon, shopify, Netflix etc can be managed .With one click, a subscription can be started or canceled. Monarch plugin will be available for easy integration to various merchant stores which will grant consumer opportunity to pay monarch instead of some other payment options such as credit card, paypal etc. other monarch features include; portfolio management system, password vault for easy and secure storage of password, ability to send funds using name and email and also user friendly interface for finance tracking. For more important features, news and Initial coin offering sales, kindly visit www.monarchtoken.io or download the whitepaper here; http://www.monarchtoken.io/whitepaper
This Article is Written by
Thesmallgod
Important Reasons why Monarch is better than other traditional payment platforms
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