HashCash Consultants, the company that owns the PayBito has rolled out SegWit on the crypto exchange. The company reportedly completed the implementation of SegWit into the PayBito platform in March despite the announcement being made months later, on June 12. Perhaps HashCash Consultants has taken its time before announcing the integration so that it can carry out adequate testing so that the announcement can be made once the system proves satisfactory.
SegWit is short for Segregated Witness and it is a system that increases a blockchain?s block size limit by eliminating signature data from Bitcoin (BTC) transactions. The system provides faster transaction speeds for Bitcoin investors and also lowers transaction fees. It is considered a vital soft fork upgrade to Bitcoin’s blockchain, making transactions more efficient and secure.
Bitfinex and Coinbase also implemented SegWit into their platforms earlier this year. Meanwhile, PayBito is quickly gaining popularity especially because of its focus on security. It is a multi-signature crypto trading platform and it uses bank-grade security measures to keep users protected against hackers.
The security checks
PayBito carries out AML and KYC checks prior to letting users upload their crypto wallets so they can start making digital currency purchases from the app. The PayBito app supports USD purchases in the U.S and INR purchases in India if the users in those countries have bank accounts. Meanwhile, users from the rest of the world can use Bitcoin as the base currency to trade other cryptocurrencies once they pass through the KYC/AML checks that are used in their respective regions.
“It is interesting to observe how awareness of Cryptocurrency has spread to every corner of the globe. A large section of our customer registrations are happening from African subcontinent, from East European countries and South America,? stated Ishan Roy, the head of Product at PayBito.
One of the unique aspects of PayBito is that it provides listing opportunities for new digital assets but based on their merit and potential. The platform is also marketed as a white label crypto exchange product to firms that are interested in deploying software solutions to run their own exchange services.
Disclaimer: Nothing in this article should be construed as financial advice in any way, nor as an encouragement to engage in cryptocurrency trading activity. This article was not sponsored by any entities or companies mentioned in the article. The only purpose of this article is to inform/educate on the topics discussed in the article.
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