Aave Pay is a Smart Solution For Companies and Privates
One of the biggest reason in cryptocurrencies going mainstream is that they are not as readily acceptable as fiat currency. Even though they have existed for a decade now, the needed infrastructures to encourage the use of cryptocurrencies for the daily transactions is still in its infancy.
What current service lack?
What are daily transactions? For individual users, daily transactions could be paying power bills, Internet bills, etc. For companies, daily transactions also include paying bills along with paying employee salaries and other corporate expenses, including income taxes.
Though there are a number of services that facilitate such daily transactions, their reach is limited. By reach here is mean, either they support only a few cryptos or few fiats. Moreover, not all services support all such daily transactions.
Aave Pay – how it helps?
Since Aave Pay is accepted where bank transfers are accepted, this makes the platform extremely useful for both individual and companies. The app uses bank transfer facility to convert crypto into fiat in real-time, thus allowing users – both individual and corporate – to pay for bills and other recurrent expenses.
This new application eliminates the obstacle of using crypto in our everyday lives, it addresses crypto’s spendibility problem and builds a bridge for crypto to cross over into mainstream use.
Aave Pay currently supports following cryptocurrencies: LEND, Dai, Bitcoin, Ethereum, Cardano, Litecoin, Bitcoin Cash, Monero, ZCash, Dash, Lumen, Ripple and Tether.
Separately, it allows fiat to crypto pairs including six fiat currencies: US Dollar (USD), Euro (EUR), the Australian Dollars (AUD), Swiss Franc (CHF), Indian Rupee (INR) and British Pound (GBP).
Support for so many digital coins and fiat expands the usability of the cryptocurrencies for both types of users, privates and companies.
For instance, companies, including blockchain startups, can use Aave Pay to transfer salaries of the employees directly to their bank account at the end of each month. This could be very convenient for the the companies which operate with crypto and probably own a large part of their funds in digital assets.
For individuals, using Aave Pay means more financial freedom. They can use Aave Pay to pay for their bills when the value of their crypto rises. This way will be able to maintain their capital along with paying their bills without using fiat.