THESE ARE THE NEW IMPORTANT FEATURES CAFECOIN USERS CAN LOOK FORWARD TO
In any new technology or system introduced to the general public, the first thing most people will look for are the features that prove beneficial for them. This is natural, as there is no point in using something if it doesn’t improve how you live your life. This time last year, the cryptocurrency craze was peaking, and people all over the world were hearing about overnight millionaires and other stories left and right. It was arguably the golden age of cryptocurrency, and many miners and other users look back at that time fondly. But there are shortfalls which the newcomer CafeCoin is looking to address. We’ll explore the important and new benefits CafeCoin users can look forward to.
Although today crypto isn’t as popular as it once was, there is definitely still hope for the industry as a whole. In fact, a lot of investors say putting money into cryptocurrency is still very much a wise decision. However, despite the massive potential cryptocurrency has yet to achieve, a lot of people don’t really want to adopt it. There are many factors that influence this, and different currencies would give you different reasons.
CafeCoin has identified five main factors as to why there is a lack of widespread adoption of cryptocurrency by the general public. And perhaps one of, if not the most prevalent, is the fact that it takes a non-trivial amount of technical knowledge and skill in order to properly make use of it. As mentioned before, people wouldn’t want to use something that doesn’t really benefit them in any significant way. That is why The CafeCoin Foundation wants to build a cryptocurrency network, and then design the system, protocols, and processes in a way that would give its users the most benefit. It truly aims to be a utility coin, and here are just some of the things potential users will want to know about which they can expect from this up-and-coming coin.
CAFECOIN MERCHANT BENEFITS
The Foundation made sure the merchants who are willing to adopt CafeCoin are properly incentivized. Because of the inherent benefits that cryptocurrency already carries, some establishments already accept some major coins as payment for their services or goods. But CafeCoin aims to have the high-margin café industry be the first adopters of its coin; a sector that has proven to be stubbornly resistant to the change ecommerce brings, mainly due to the nature of their products. But The Foundation has been successful in this regard, as it already has a few partners that are going to accept CafeCoin as a mode of payment, and there are even more to follow. For merchants, this is what they can expect from using CafeCoin:
Avoiding credit card payment processing fees – Not a lot of people may know this, but it’s not only the consumers that are being hit hard by credit card and debit card companies. Consumers may complain about the sometimes high interest rate when they make use of their credit cards, while at the same time the merchants also have to pay a certain amount in order to receive the payment from credit card companies. On average, about 1.5% to 2.5% is charged to the retailers as a fee in processing the payment for their goods and services.
Merchants can rest easy when using CafeCoin though, as the transaction and payment processing fees are significantly reduced, and can even be removed. Retailers in the places that have loftier per-unit pricing will experience bigger savings when making use of CafeCoin, and this is all thanks to its unique transaction fee system. More details on this can be found on The Foundation’s white paper, which can be looked up on cafe-coin.com.
Tailored consumer marketing – Merchants have the ability to create targeted promotions and other messages that are generally triggered once a transaction is initiated, or when a purchase occurs. When the consumer and merchant share data about the transaction through their CafeCoin applications, information will be relegated between the two devices regarding these.
Real-time payment settlement – Wholesalers and retail shop owners will be able to experience real-time payment settlement. Unlike some other mobile payment methods like credit and debit cards, the funds, or in this case CafeCoin, will instantly appear in the merchant’s wallet as soon as the transaction has been settled.
Immediate exchange into fiat money – Merchants will have the ability to quickly convert their CafeCoin into fiat currency. This is because CafeCoin allows easy access to coin distribution systems.
The more users adopt, the faster business expands – Similar to charge cards that are paid before acquisition of credits, consumers will be able to buy CafeCoin at any merchant or establishment that allows CafeCoin transactions in their business. This will engender greater adoption by brick-and-mortar stores all over the world.
Fractional transaction – Merchants that cater to CafeCoin payments will have the ability to exchange and accept CafeCoin at fractional units, which all-in-all makes the cryptocurrency more functional and useful in commercial settings.
CAFECOIN CONSUMER BENEFITS
While incentivizing the merchant users, The CafeCoin Foundation also made sure to not leave the consumers out in receiving benefits. Without consumers, there would be no point in merchants adopting the coin, as there would be no customers who transact by using it. Although there are benefits that are similar to what the merchants also get, there are plenty of features that are focused solely on the users on the other side of the cash register.
Immediate savings – The Foundation already anticipates that the products sold via the CafeCoin transactions will have prices lowered in shops where they allow CafeCoin transactions. These expected discounts are particularly high in the strategic retail partners that are in the café industry, where the first adopters of CafeCoin belong to.
Loyalty rewards – Customer that make use of CafeCoin are going to receive the promotions and marketing that are specifically targeted to their spending habits and preferences. These particular discounts are going to be triggered at the point of sale, when the consumer initiates a transaction with the merchant, as well as when the consumer shares past purchase history with the establishment.
Strong ecosystem – CafeCoin’s robust transactional ecosystem is anticipated to boost liquidity, as well as the value creation of the coin. Users who are customers demand CafeCoin’s savings, merchants will benefit from the increased sales they get, and participants in the CafeCoin market, who themselves increase liquidity.
Quick convert to cash – Because CafeCoin offers easy access to liquidity platforms and other distribution entities, consumers will freely be able to exchange their CafeCoin for traditional fiat money.
Private transactions – Customers who use CafeCoin to purchase products and services will be doing so on the CafeCoin mobile app installed on their personal device. This is more secure compared to debit and credit card transactions, wherein you have to input personal information to unknown vendors, which is one of the most popular sources of identity theft.
Enhanced utility due to fractional transactions – Just like with merchants and vendors, consumers will be able to spend CafeCoin at the fractional level, which enhances its commercial utility even more.
So that’s a detailed summation of all the new important features that CafeCoin users will enjoy looking forward.