B2BinPay, a leading blockchain payment system, has announced the release of its new v19 update. This latest update introduces an array of new features and improvements, including innovative instant swaps and expanded blockchain support.
Instant Swaps and Competitive Cost Advantages via VWAP
Swap is a favoured approach to handling virtual assets among many crypto enthusiasts. It differs from centralised exchange transactions in that it does not rely on order books but offers immediate and direct trades of various digital currencies.
B2BinPay now implements and enhances this approach by incorporating the Volume-Weighted Average Price (VWAP) tool. The system utilises this tool to select the most competitive price for a token from a multitude of centralised exchanges based on the transaction volume.
This change eliminates the necessity for B2BinPay clients to contrast prices across multiple exchanges; the platform undertakes this task for them, ensuring clients secure the most advantageous rates for their swaps seamlessly.
Moreover, swaps with B2BinPay eliminate two blockchain commission costs for the client – the transaction to the centralised exchange and the transaction returning to the B2BinPay wallet.
Clients can readily avail of instant swaps via a dedicated Swaps Tab in the front-end menu, accompanied by separate wallets.
No Commissions on Top-Ups & Smooth Processing
In the new update, the procedure for topping up the swap wallet is tailored to various user requirements. Those with digital wallets will enjoy the convenience of immediate transactions for swift fund transfers, while those with blockchain wallets will appreciate the security and transparency of on-chain transactions. It’s important to be aware that top-ups should be completed in the wallet’s denominated currency.
B2BinPay account users will enjoy a zero commission benefit on topping up swap wallets, although a fee applies to on-chain transactions with blockchain wallets.
New Supported Blockchains: Polygon and Avalanche
B2BinPay continues to expand its reach, with its latest update now including support for two highly sought-after blockchains – Polygon and Avalanche. This development brings users a new level of convenience, with the platform now offering an extensive range of stablecoin transaction options, including popular cryptocurrencies like USDT, DAI, USDC, TUSD, FRAX, and EUROC on these networks.
The inclusion of Polygon brings scalability and low transaction fees to B2BinPay users. Similarly, Avalanche’s high throughput and rapid processing times provide a powerful platform for swift transfers. Now that these blockchains are integrated into B2BinPay, users can enjoy lower fees and faster transactions.
Conclusion
With the launch of its 19th version, B2BinPay is offering enhanced flexibility to its clientele. Using digital wallets, users can now opt for settlement in their preferred currency – be it a coin, stablecoin, or fiat. They also gain access to a broader range of blockchains and cryptocurrencies through blockchain wallets and enjoy immediate exchanges using swap features.
The striving for perfection doesn’t stop here – the team at B2BinPay is working on lowering overall service fees, which will increase the accessibility of the solution in future updates.
This constant improvement solidifies B2BinPay’s position as a reliable, all-in-one processing solution for businesses looking to accept cryptocurrency payments seamlessly.
