Cryptocurrency’s Barriers to Entry
As of now, the crypto market has high barriers to entry. Here are some of the barriers that it currently has:
- It costs money and takes time. Registering online and getting verified on crypto exchanges can take days if not weeks to work fully.
- Decentralization is the main concept for cryptocurrencies, yet central ideals still play a large part in buying cryptocurrencies.
- The complex process of buying cryptocurrencies creates a high barrier to entry for the masses, especially the 2 billion population that doesn’t have a bank account.
- The last issue that has yet to have been solved within the crypto industry: How to trade crypto for fiat money within minutes.
What is Dether and What Is Its Solution?
Dether is a decentralized peer-to-peer network that enables anyone to buy cryptocurrency with fiat money. The developers have currently created a mobile app that’s currently in its alpha stage. It’s the world’s first P2P Ether network and helps even novices who are interested in crypto obtain it with their fiat money.
Why is Dether an important platform? Developers state that trading Ether can be an intensive process. Dether’s solution to this problem is to use Ethereum’s blockchain to trade crypto without the hassle of centralized financial institutions.
- Safe Communication: Dether has a decrypted peer-to-peer network that helps buyers and sellers communicate and interact with each other anonymously. And, the information isn’t held by any form of entity. They can trade and chat directly without the need of a middleman.
- No Locked Funds: Sellers can freely transfer their Ether into a Dether wallet. Once they do this, buyers can see the exact price they are willing to sell. Only you can fund your wallet, and you don’t need a third party to complete the transaction (its P2P system works like transferring money from one wallet to another)
- Trusted Buyers and Sellers: With Dether, there is a reputation system that’s powered by smart contracts. When you use the Dether app, you can discover the rating of every buyer and seller that’s on it. This allows you to create a safe transaction. The ratings are measured based on the number of successful transactions and the total number of transactions.
Token Sale Information:
- Payment Accepted: ETH
- Max Token Supply: 100,000,000
- Soft Cap: $4,500,000 USD
- Hard Cap: $17,000,000 USD
- Token Sale: February 7th, 2018
- Website: https://dether.io/
- Whitepaper: https://whitepaper.dether.io/
Disclaimer: Don’t take our information as investment advice. We are only here to inform you on the latest ICOs. Invest at your own risk.
- Decentralized Trading: Dether makes it easier for users to trade without the need of centralized banking or exchanges. You can use the app and obtain Ether from another trusted user.
- Reputation System: With Dether’s reputation system, users can trade with trusted Ether sellers. Since its smart contract based, both users have the incentive to cooperate with each other.
- Ether Integration: Dether allows sellers to move their Ether wallets onto the platform within minutes quickly.
- Major Countries: As of now, Dether is banned in large countries such as the US and China.
- Safety Concern: How will the in-person interactions be judged? Will there be any repercussions if it ends negatively?
To conclude, Dether helps users obtain Ether without the hassle of long exchanges and centralized processes. While it is banned in some major countries, Dether shows promise and can be a powerful ICO if its able to expand more.