Cryptocurrencies have a lot of potentials but there are certain factors that hold their growth and thus restrict their mass appeal. Some of the factors which restrict the mass adoption of cryptocurrencies are given below.

• Fluctuation of Value

The value of some of the top cryptocurrencies fluctuates as much as 5-7% every day. Consider Bitcoin, its value fluctuates as much as 7% on average. This is considerably high considering the fluctuation in the value of fiat currencies which see a deviation of 0.5-1%.

• Lack of merchants accepting payments

The deviation in the value of cryptocurrency is high when compared to fiat currencies. This is one of the main reasons why consumers, as well as businesses, don’t go for cryptocurrency as a medium of the transaction since they have a margin of 3-5% and cannot absorb such a high deviation in value.

• Complexity

If you plan to start transacting in cryptocurrencies or use it as a medium of transaction, there is a lot of research to be done and proper care to be taken before investing. An average person thus prefers to go with the conventional ways of money transfer.

The problems discussed above are considered to be the three main barriers that restrict the mass adoption of cryptocurrencies. Now, wouldn’t it be wonderful if there was a platform that eliminates all these problems and in addition to this, rewards you for every transaction you make.

LivenPay is a platform that does exactly the same. They are launching their existing network currency on the Ethereum network. Some of the major advantages offered by LivenPay over other cryptocurrencies are given below.

• No Considerable Deviation in Value

The major difference between LVN and other cryptocurrencies is that the former has an internal conversion rate and thus does not show any major deviation in value. The value of LVN is not directly affected by the external market but is determined through a decentralized protocol that takes into account the token flow in and out of LivenPay’s Reward Cache. This ensures that the LVN has the potential to capture the market as it keeps into consideration both the interest of consumers and merchants.

• Intrinsic Value

Another factor that makes it popular is that it holds an intrinsic value which is not the case with other cryptocurrencies. People can use the currency to make payments at a number of merchants today already.

• Simplicity

Merchants will have the option of choosing the medium through which they wish to receive the payment, be it LVN or local fiat currency.

• Rewards

LivenPay rewards users with a certain percentage of the transaction amount in LVN, which can be used for future payments, donated to charity, or sent to friends.

Now that we have discussed LivenPay in detail, you must have by now understood the various advantages offered by it and it is said to be the “payment app for the future”. For now, it is functioning in only a few cities but with the revenue collected from Token Sale, it plans to expand worldwide.

Reference: https://cryptoglobe.website/category/review/