Instant Swaps and Expanding Blockchain Support — B2BinPay Presents a Fresh v19 Update

Hong Kong, China, February 14, 2024

B2BinPay is constantly putting in efforts to enhance its blockchain platform, which is considered one of the best in the world. The development team of B2BinPay is thrilled to showcase the significant advancements made in the latest update, version 19.

Version 19 introduces a series of fresh functionalities, with particular emphasis on instant swaps and the integration of supplementary blockchain assistance.

Instant Swaps with The VWAP Pricing System

Managing cryptocurrency assets can be efficiently done through the widely favoured method known as Swap. Unlike traditional exchanges, Swaps doesn’t rely on order books and allows direct transactions between crypto assets. B2BinPay offers a client-focused approach by implementing the VWAP (Volume-Weighted Average Price) tool, which selects the best available price from various centralised exchanges based on the transaction volume.

The company’s clients are no longer required to compare prices on various exchanges since the company does it for them. As a result, they can effortlessly and quickly receive the most beneficial rates for the swaps.

The use of swaps has eliminated two blockchain commission costs for clients. This includes the transaction fee to the centralised exchange and the fee for moving funds from the exchange to the B2BinPay wallet. As a result, clients can now handle their virtual assets with more flexibility and affordability.

Instant swaps are available to clients via the Swaps Tab, specifically designed for this purpose, and can be found on the front-end menu. Furthermore, separate wallets are provided to supplement this feature.

Smooth Transactions Without Top-Ups Commission

The top-up process for swap wallets in v19 is tailored to meet different user types. Customers with digital wallets can enjoy instant transactions for speedy fund transfers, whereas blockchain wallet owners can benefit from on-chain transactions that offer transparency and security by recording them on the blockchain. It is important to note that all top-ups must be in the wallet’s denominated currency to ensure efficiency.

When adding funds to their swap wallets from their B2BinPay accounts, users won’t have to pay any commission. However, for on-chain transactions with blockchain wallets, a commission will be charged.

Expanded Blockchain Support with Avalanche and Polygon

The latest update adds support for the Polygon and Avalanche blockchains, widening stablecoin transaction options to include favourites like USDT, USDC, DAI, FRAX, TUSD, and EUROC on these leading networks. 

Polygon has earned its reputation for being highly scalable and having low transaction fees, making it a preferred option for those seeking efficient transactions. Meanwhile, Avalanche has distinguished itself by offering high throughput and rapid processing times, creating a powerful platform for speedy transfers. By adding these two to its supported blockchain list, the company is allowing its users to benefit from reduced fees and faster transactions.

Verdict

B2BinPay’s version 19 release provides enhanced flexibility to its clients. With this new release, clients can settle using their preferred currency, whether it be a coin, stablecoin or fiat, by utilising digital wallets. Additionally, they can access an array of blockchains and cryptocurrencies through the blockchain wallets and make instant exchanges using swap wallets.

B2BinPay now offers a complete range of services for processing cryptocurrencies, making it a comprehensive solution for all crypto-related needs. The company constantly strives to improve its offerings and reduce its fees to make its services more affordable for everyone.

The company aims to continuously evolve and meet the changing demands of the community and industry. Your feedback on B2BinPay v19 is highly appreciated and eagerly awaited by the company.