PayBito: Democratizing Crypto Trading For All
The growing global adoption of cryptocurrencies highlights the need to change pre-existing notions of money. As enthusiasts would point out, the time is ripe for evolution, and the emergence of cryptocurrencies as viable assets is evident with over 300 million crypto owners worldwide and above $800 billion market capitalization. PayBito occupies a critical role in maintaining the global circulation of global digital assets. Aiding entrepreneurs and financial enterprises planning to leverage crypto trading business opportunities is necessary for promoting additional mainstream engagement, and the crypto exchange aims to deliver in this segment with its flagship blockchain-powered white-label crypto solutions.
What does PayBito Offer?
PayBito is a US-based cryptocurrency exchange that facilitates crypto transactions across its marketplace and charges only a fraction of conventional processing fees. Based out of Palo Alto, California, the exchange has been developed and maintained by HashCash Consultants, helmed by founder-chairman Raj Chowdhury.
There are several standout features that distinct PayBito from its market competitors, including the company’s philosophy of measuring success through “collaboration instead of competition”. In addition to providing comprehensive crypto trading services for crypto traders and enthusiasts with multiple trade modes, PayBito also offers its flagship white-label crypto exchange technology for institutional investors planning to add crypto trading to their service portfolio. New cryptocurrencies are regularly added to its asset listings, along with updates in the UI/UX segment, and the addition of a freely downloadable desktop app.
The PayBito exchange debuted the world’s first white-label crypto broker platform, democratizing the entire trade mechanism by empowering anyone and everyone willing to participate and offer crypto trading services under the PayBito exchange and earn attractive commissions acting as an interface between traders and the marketplace for a nominal monthly subscription, and a one-month free trial.
The comprehensive PayBito list of solutions features crypto listing and additional B2B services for crypto enterprises across buyer and seller sides. The available options include algorithmic trading, matching engines, direct market access, portfolio management systems, and more. There are also DeFi payment options as well as blockchain-powered online marketplaces for non-traditional assets
How PayBito was Started?
PayBito was formed in December 2017. The HashCash team had already begun making global waves in blockchain development under the efficient leadership of founder-chairman Raj Chowdhury. Chowdhury had moved to the USA to pursue his higher education and was a student of the School of Engineering at Tufts University. He eventually did a research stint working in MTL(Microsystems Technology Lab) at MIT. He also studied international law and afterward obtained an MBA from the Leavey School of Business at Santa Clara University.
Bitcoin and The Great Depression: The Motivation Beneath the Success
It was while assessing the impact of the 2008-09 Great Depression that Chowdhury familiarised himself with Bitcoin and its ingenious underlying technology- the blockchain. Only a select few across the world could apprehend the revolutionary global transformation that cryptocurrencies and blockchain were capable of, and he was one of them. Capitalizing on this foresight, he established HashCash Consultants in 2015 as an enterprise specializing in blockchain-crypto development. PayBito was developed soon thereafter in close coordination with expert professionals with backgrounds in cybersecurity, blockchain, finance, and software development.
Today, HashCash and PayBito have offices across 5 global locations, They have deployed critically acclaimed products and solutions in more than 26 nations across 5 continents. The company doesn’t hope to stay complacent and strives to march forward through strategic alliances and expansion.
Chowdhury distinctly remembers the first time he figured out the latent abilities of crypto and blockchain, “The very notions of blockchain and crypto challenged the status quo of global financial operations. The far-reaching potential was imminent even in the early days of development.” The deviation towards decentralization posed a chance to reduce transaction processing costs by eliminating intermediaries while promoting financial inclusion across regions without banking infrastructure.
Brokering World Hunger Away: Giving Back to the Society
Over the years, the PayBito chief has been involved in several philanthropic and humanitarian projects. The drive to contribute and empower underprivileged children was the inspiration behind PayBito’s latest “Brokering World Hunger Away” campaign. The campaign fosters collective contribution towards defeating global hunger as PayBito pledges to match each dollar earned as a commission by its enlisted crypto brokers and feed starving children worldwide. UNICEF reports around 3.1 million children to die annually from malnutrition. Change is essential- each single effort matters.
Challenges in the Crypto World
Nations across the world are rushing to set up crypto regulation frameworks in response to the losses faced by investors and understanding the need to set up a standardized structure. However, incidents like these do not affect PayBito, as the exchange implements zero tolerance for deviation from fundamentals.
The swift global rise in digital asset adoption has elevated crypto exchanges to mainstream relevance. Nowadays, crypto-based enterprises often sponsor major sports leagues, endorse celebrities, and have mainstream media appearances. However, the preceding year also featured a continuous downhill since the end of 2021.
Bitcoin, Ethereum, and the global market capitalization attained their respective all-time high figures in November 2021. A chain of events contributed to the global crypto price correction and withdrawal of capital from the crypto trading markets. The top two crypto assets are currently priced at almost one-third of their 2021 year-end prices.
If we delve deeper, the underlying causes behind this correction are also the main challenges for the global crypto industry. The first and foremost issue remains security. The growing popularity of these exchanges makes them critical targets for cybercriminals and hackers.
Digital asset exchanges fend off countless hacking attempts on a regular basis. The underlying blockchain architecture is resilient against malicious penetration attempts. It would be illogical to declare crypto heists and ransomware attacks as implausible- they are actually increasing with each passing day. As Chowdhury iterated in the past- Prioritizing investor asset protection along with regular integration of the latest security updates in cybersecurity is crucial.
Cryptocurrencies, unlike other asset classes, are new and comprise fewer players. As such, it is extremely volatile and often opted for by traders with a high-risk appetite. As a negative side-effect, the markets can plummet to oblivion within a short timeframe, even in the case of relatively stable alt-tokens(Terra Luna for example).
A feasible solution is a provision for Direct Market Access. PayBito has collaborated with 12 other leading crypto exchanges to address the problem of a liquidity crisis. Crypto traders in PayBito can harness liquidity from other exchanges to leverage gains.
Expansion and Business Opportunities
The 2022 down slump did not mean much for long-term crypto investors. On the contrary, there is a growing opinion that the bloodbath has filtered out the seasonal enthusiasts. Others predict the enforcement of KYC/AMC-compliance regulations by governments across different parts of the world will bring forward the long-sought stability in the crypto ecosystem.
The opportunities are plenty for both traders and institutional investors. In addition, decentralized finance(DeFi), Web 3.0 and the upcoming metaverse present several openings for expansion. HashCash had previously announced its plans of entering the metaverse development segment in 2023.
Meanwhile, PayBito enjoyed strategic alliances and collaborations with notable financial institutions worldwide. Throughout the past year, the digital assets exchange extended its services, contributing to crypto transformation in over 26 nations. PayBito has also recently enjoyed a rise in global investor interest in its flagship crypto broker program, along with crypto custodial, collateralized lending, and banking solutions. The consistent efforts have helped the exchange win multiple global awards and recognition as a top white-label crypto exchange provider.
Advice to Entrepreneurs Venturing into Crypto Trading Services
For enterprises entering the crypto trading business, the aim should be to provide the best possible service to clients while adhering to upcoming crypto regulations. Equally important is segregating investor assets and ensuring that the funds remain properly accounted for.
In addition to crypto trading, organizations can also utilize cryptocurrencies for optimized cross-border B2B corporate payments, or offer remittance services for expatriates willing to use crypto for transferring their hard-earned savings to their native locations. Crypto remittance has picked up the pace, particularly in regions across Latin America and South-East Asia. It is however necessary to ensure the security infrastructure remains robust. Hence the businesses need to select service providers with demonstrated experience in blockchain and crypto development, and awareness of the enforced crypto regulations at the base country of operations.
Contrary to the generic apprehension against cryptocurrencies and their viability as real-world solutions, the majority of top global business organizations are already using blockchain or utilizing digital assets for cross-border transactions. The future hints at the inevitable arrival of decentralized Web 3.0 internet and metaverse. The possibilities are limitless for those with foresight.