MonarchPay Allows Users To Buy And Sell Crypto While Holding Their Private Keys
Monarch Blockchain Corporation has announced the upcoming release of MonarchPay, a marketplace payment solution that allows merchants to seamlessly integrate cryptocurrency as a payment method for products and services.
MonarchPay will continue to roll out more capabilities as development of the platform progresses. The first of these features is the introduction of buying and selling cryptocurrency within the Monarch Wallet, which will be available on the Apple App Store and Google Play by the end of December.
Monarch users will have the option to link their bank account or credit card for the purpose of buying or selling Ethereum. What distinguishes Monarch’s new feature from similar services provided by Coinbase or cryptocurrency exchanges is that the user’s decentralized ownership of funds is protected and maintained. For many crypto-enthusiasts, control of one’s wallet “seed” and private keys are critical to the heart and soul of the cryptocurrency movement. Monarch upholds this philosophy by empowering users to buy and sell from wallet accounts that are directly owned and controlled by the users themselves.
The next MonarchPay updates will include buying and selling of more cryptocurrencies, such as Bitcoin (BTC), Ripple (XRP), Stellar (XLM), and others. The plan for early 2019 is to provide user-friendly web portals for both merchants and customers. For merchants, there will be resources for adding cryptocurrency as a payment method on their website. Several portal tools will help with tracking transactions and sending incoming revenue to their bank account in the form of USD. The conversion from cryptocurrency to U.S. dollars will happen automatically, protecting merchants from cryptocurrency price volatility.
For customers, the platform is a user-friendly and convenient way to make practical use of their cryptocurrencies. For many, the value of a coin or token is directly related to the utility it provides. In other words, what can a user do with their cryptocurrency?
It is Monarch’s mission to make sure the user can do plenty with it.
The ability to buy and sell within the Monarch app is a welcome addition to an already impressive array of features that include: storage of cryptocurrencies, sending and receiving, transaction history, market data, portfolio tracking, news, and account management.