PayFair Escrow Platform Advantages
With payfair bringing a solution to wide range problems involved in third party deals and also bringing a safer atmosphere / ecosystem to reduced time spent for transactions, we are in for something big.
The payfair platform owns a crypto currency token to be used to enable the functionability of the platform with the platform being ERC-20 token based on etherum platform. Basic function of the Payfair token (PFR) is to:
- It helps to create the escrow nodes that will solve disputes
- It enables token hodlers to receive benefits emerging from commissions
- It creates nodes of trust in the Payfair ecosystem
Payfair platforms advantages are:
- To create a trust bond (guarantee) between sellers and buyers or contractors.
- Payfair ecosystem is independent without any form of interference
- All transactions are completed on the Payfair ecosystem.
- Interestingly, the payfair.io fees are very fair, charging 1% fee for every transaction without a dispute, and 1.5% fee for every transaction in which a dispute occurred.
- The payfair platform has a rating system that ensures the recognition of a reliable platform users who always has smooth deals.
- There is a full open source API.
- The payfair platform ecosystems allows the use of the popular crypto currencies such as bitcoin, etherum etc to be used a payment means between contractors (buyers and sellers) with more crypto currency offering added as the platform matures
To conclude, the payfair platform has a very convenient way to complete an escrow trade and it involves the following process:
* Both the seller and the buyer will deposit crypto currency into the decentralized escrow account
* Both buyer and seller has to confirm the terms of the deal either goods deal or crypto to crypto deals.
* There will be 3 consecutive “successive” decisions from the escrow-nodes. (In this stage, both the buyer and the seller agrees that they are good with the payment, services and goods offered.
* Payment is then released from the escrow account
For thorough information and spot on details about the payfair.io escrow platform; kindly visit the links below:
Official website: https://payfair.io/
Telegram channel: https://t.me/payfair
LinkedIn: https : //www.linkedin.com/company/payfairio/
Reddit: https: // www. reddit.com/r/Payfair/
Author Link: https://bitcointalk.org/index.php?action=profile;u=1465477