25 Apr ByBarter: A Next-Gen Decentralized, Non-Custodial Peer-to-Peer Service Platform
Cryptocurrencies are becoming increasingly popular as mainstream interest continues to grow. The entry of institutional investors is further driving the adoption of crypto assets on a larger scale.
However, there are still hundreds of millions of unbanked individuals globally who find it difficult to get on board the crypto space due to entry barriers. Unfortunately, intermediaries such as banks and centralized crypto exchanges have censored many people from some jurisdictions, preventing them from accessing crypto.
Over time, it appears as though Satoshi Nakamoto’s vision for a decentralized peer-to-peer transfer system has been lost, but ByBarter seeks to restore this original vision of complete decentralization.
What is ByBarter?
ByBarter is a decentralized, non-custodial, peer-to-peer service platform that is building solutions to eliminate the barriers that come with buying and selling digital assets. The team behind the project believes that the original vision of a peer-to-peer value transfer system outlined by Nakamoto in the Bitcoin Whitepaper has not been actualized, and they are on a mission of bringing it to reality.
The decentralized, non-custodial peer-to-peer service platform is a solution that makes Decentralized Exchanges independent, as subscribers to DEX & DEFI can fund and withdraw crypto directly from their self-custodial wallets like Trustwallet and Metamask without reliance on Centralized exchanges. Other key aspects of the project include a Marketverse, Launchpad, and multi-chain Decentralized exchange.
ByBarter’s goal is to put power back into the hands of mainstream crypto users. It aims to make the entire crypto trading process completely decentralized and independent of the largely centralized crypto exchanges and other intermediaries.
The project also aims to make the crypto industry more accessible to the unbanked, allowing everyone equal opportunity to participate in the space and creating limitless earning opportunities.
Features of ByBarter
Decentralized, Non-custodial Peer-to-Peer Service Platform
On the ByBarter platform, users will be able to trade and exchange tokens directly from their self-custody hot or cold crypto wallets. Self-custody crypto wallets like Trustwallet or Metamask are the only means through which DEX and DEFI users can access the opportunities in the decentralized crypto space.
Funding these self-custody wallets has mostly been possible using centralized exchanges and systems. With the launch of the ByBarter project, funding and withdrawing from self-custody hot or cold wallets is now possible on the decentralized, noncustodial P2P Service platform. The ByBarter project believes that decentralized exchanges should have an independent means for funding and withdrawals. The platform integrates multiple methods used in day-to-day transactions into the crypto space to ensure the accessibility of crypto.
Users will be able to buy and sell crypto with up to 320 payment methods, including mobile money, gift cards, mobile top-up cards, thrift, cash, prepaid products, money transfer services, or even exchange services or skills for cryptocurrencies.
ByBarter intends to create an ecosystem where members pool together their unique skills and services and monetize them. Thus, it is developing a metaverse dubbed MarketVerse ByBarter, which will allow members of its community to own online storefronts where they can trade goods, skills, and services. Crypto enthusiasts can pay for goods, skills, or services directly with the crypto of their choice and do not need to go through the hassle of converting crypto to fiat. Merchants utilizing the Marketverse could, in theory, boost their sales by allowing crypto enthusiasts to pay for their needs using crypto.
Crypto is considered the future by many people, and more crypto-based projects will be born and would need an avenue where their platforms can raise seed funding. ByBarter’s Launchpad will allow vetted crypto projects to be crowd-funded by the ByBarter community.
Projects will be assessed based on scope and objectives. The ByBarter community benefits as they can automatically become serial entrepreneurs in various initiatives.
ByBarter is committed to promoting transparency in all of its operations. Hence, it has pledged to share 50% of all revenue generated on its ecosystem with the community. Users can claim their share of the profit by simply holding ByBarter’s native cryptocurrency. This creates a passive income stream for holders of the coin.
The Bybarter Team is developing a decentralized exchange (DEX) with a routing system that allows users to access multiple trades at the best rates. It is equipped with multi-DEX liquidity aggregation on multiple chains, which ensures that users save a substantial amount on every trade.
The DEX will be designed to suit the needs of traders from all experience levels, both newbies and experts, offering them a fast and seamless trading experience with military-grade security.
The BYB Token
BYB is the native cryptocurrency of ByBarter’s ecosystem. It is a BEP-20 token with a total supply of 1 billion BYB.
BYB holders get the power to vote on decisions that could affect the future of the entire ByBarter ecosystem. Holders are also eligible to receive a portion of the 50% of profits generated by the ecosystem. Holders of the BYB token enjoy tiered discounts on the ByBarter’s decentralized, non-custodial Peer-2-Peer Service platform as well as on the Marketverse ByBarter. Additionally, the token allows holders to participate as early investors in vetted crypto projects that will utilize the ByBarter’s launchpad to raise funds.
ByBarter’s decentralized, non-custodial Peer-2-Peer Service platform will be launched for use by the decentralized crypto community to transfer and exchange digital assets soon, but the BYB token is currently on sale, and more details can be found on the project website.
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