The demand for cryptocurrency and related services is rocketing. The market is growing every day, with new money entering the space and more and more people interested in cryptocurrency trading. Many will have opened up new accounts with services like Coinbase, sent their shiny new BTC and ETH to exchanges like Bitfinex and Binance, and chosen some alternative currencies in which to invest. This route, however, is not as simple as I've made out, and is frought with dangers.
How can I avoid massive fees when exchanging between currencies and withdrawing my money?
How can I be sure my money is safe on a third party platform?
Where can I learn which altcoins I should invest in?
Streamity is a new service that aims to answer these questions. The company's flagship product, a P2P decentralised app named StreamDesk, will help individuals to exchange cryptocurrency quickly, safely, and with low commission.
Decentralization means better security
Anybody who has been involved with cryptocurrency for more than a few months will be familiar with the very common occurrence of exchanges getting hacked. These are huge events in the cryptocurrency community in which enormous amounts of money can be lost, irreversibly. Many in the space advise to always remove money from exchanges to a personal wallet, but since there are high withdrawal and deposit fees, many traders are understandably reluctant to do this.
So how does Streamity help? Well, Streamity is not an exchange. It allows individuals to trade cryptocurrency peer to peer, directly, using smart contracts on the Ethereum network. When a seller selects an order and sends the money, the funds are blocked by a smart contract, which is released when the payment from the buyer is confirmed. Your money is never held by Streamity, and you're therefore never at risk of becoming the latest victim of a hack.
Low transaction fees make it easy to transfer between currencies
Transaction fees alone can wipe out a trader's profits. We're still in an early stage of development in terms of blockchain technology and cryptocurrency exchange, but one day we will marvel at how crazy these fees can be. Streamity is going to speed this development up.
The Streamity token, STM, will be used to help power the transaction network, and any user holding over 1250STM will be able to enjoy even lower transaction fees. The token will be traded on all major exchanges.
A portal for crypto education
What really differentiates Streamity from other services is their emphasis on education. Streamity.org will feature news, analysis and advice on general cryptocurrency topics, useful to new entrants and seasoned traders alike. Users participating in the community will be incentivised with STM for taking part. And with more and more people entering the market, a reliable source of information and news is essential.
A reliable and safe way back into fiat
Anybody trying to cash out their cryptocurrency is in for a long and painful process. Services like Localbitcoins and Changelly do not prioritize trust and security in their operations, and users are the ones who pay the price. Streamity is focused on the ccommunity's needs and security is paramount.
So how can I get involved?
As I write, Streamity's ICO will begin in 6 days time, with STM tokens valued at $0.2. The ICO will accept major cryptocurrencies BTC, LTC, and ETH, along with fiat currencies. The funds raised will allow Streamity to continue development of StreamDesk. Better act fast though- the ICO will only be open for 6 days from January 22nd-January 28th.
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