In 2020, all crypto enthusiasts were thrilled by the news of Crypto.com integrating PayID into its platform. On October 19 of the same year, the company made an announcement about the new integration to its application, informing its users about enhanced cross-platform services with effort-free authentication.
The most significant result of this partnership is probably that over five million customers of Crypto.com get the opportunity to receive and send various cryptos in any network almost instantly. As a result, by joining hands together, PayID and Crypto.com have successfully connected more than 100 million people around the globe in a single service.
Decentralized and Convenient Identification Service for Everyone
In the cryptocurrency sphere, there are countless closed or complicated networks in the banking section. Because of this, many users always face the problem of remembering or saving long wallet addresses and other banking details.
PayID effectively solves many of these concerns by bringing a standard, free, and open protocol to your table. The platform’s protocol makes interoperability possible between any payment currency or network.
According to Crypto.com’s team, with the integration of PayID, their five million users can now access more convenient and seamless payment methods. They can easily use the application from Crypto.com to register for a PayID, which consolidates accounts and long-tail wallet addresses into a simple ID. And the given ID works perfectly across any currency and platform.
Customers who register with PayID will get a unique, easy-to-read, and Crypto.com-branded ID following the “yourname$payid.crypto.com” pattern.
Initially, the company only provided the register option in PayID for chosen users. The selected customers had to stake 10,000 CROs or more in the app or 10,000 CROs or more in the site’s Exchange to be eligible for registering. Only from November 2nd of that year did this feature become accessible to all other users.
Overall, adding PayID to the Crypto.com wallet and exchange made it relatively easier for people to transact cryptos between wallets and networks. Whether it is a deposit you want to make when playing at https://payid-casinos.com/ or simply want to transfer crypto funds between your accounts, you can use Crypto.com for your operations.
Once registered, you can make crypto transfers using the top supported currencies, such as
XRP;
CRO;
BTC;
ETH;
and other ERC20 tokens.
In addition, customers can also send cryptocurrency to other wallets compatible with PayID hosted by other Open Payments Coalition members.
More Close Look at PayID as a Payment Service
In a few words, PayID is a direct bank transfer option that allows you to make instant and secure transfers on a variety of online platforms. To get started with PayID, you must register and open an account, provide all required details, and link it to your bank account. However, right after setting up your account, you can change your ID to your email address, ORG ID, or even your mobile number, which is probably unforgettable for you. PayID is also often used for betting and has begun to replace traditional payment methods
It means that whenever you want to send or receive funds, you just need to fill in your easy-to-remember ID instead of long and complex account numbers.
What’s more, PayID is also famous for its up-to-date security measures. Thus, when using this payment option for your transactions, you can protect yourself from possible leaks and check all data of your previous activities for clear information.
Why Choose PayID?
Well, it’s obvious that PayID is quite a compatible payment option. However, how do you know it is among the best choices users have? What differentiates this provider from other leading payment services? And what will you get when paying through PayID?
There are some significant differences PayID users will experience compared to using classic banking methods. Here, let’s have a look at the key ones.
Eligible banks will receive PayID payments in near real-time.
Users can make payments without filling in account details or BSB.
You can confirm the identity of the person you are sending money to beforehand, as PayID shows the recipient’s name.
Your confidential data and sensitive information are safe and sound due to the platform’s enhanced security and protection measures.
In addition to these, many online casino sites in Australia cooperate with PayID. So, you can access and play your favorite games and withdraw your winnings through this payment option as well.
Final Thoughts
Crypto.com and PayID are two major names that are known among most crypto enthusiasts. That’s why the cooperation between these two companies was indeed expected news for most people.
They successfully brought together the notions of convenience, safety, accuracy, and simplicity in one place, allowing users to experience the vibe of seamless crypto transactions for themselves.
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