It's been a long journey, a total of four years of work by our team, but our concept, which connects all payment methods using Bitcoin, works and is fully functional in our DEMO version. Currently, penetration testing, fine-tuning, and system testing are underway. With more than 6500 payment methods, 165 fiat currencies, and four cryptocurrencies, every alternative needs to be tested and evaluated. We believe we are approaching amazing developments that will change the way we think about money transfer.
What exactly is it about?
Existing payment systems operate as closed systems; for example, you can only send and receive money from PayPal to PayPal or, at most, to a bank account. Banks and other payment companies are either expensive, slow, offer unfavorable exchange rates, or are not available worldwide. The main issue is that the world is not as financially interconnected as it might seem. For instance, sending money from the USA to China is nearly impossible for an ordinary person and risks various sanctions, account blocking, and similar issues, even for smaller amounts. Payment options in third-world countries are very limited, resulting in capital not being able to flow in, people being unable to save, receive, and send money, not to mention the high fees. In short, there are many systems and they vary, but none is sufficiently compatible and secure to become a truly global payment method.
How It Works
Bitcoin Money Transfer (BMT) enables fast international financial transactions, with Bitcoin serving as the medium through which value is transferred between the sender and the recipient. As the sender, you deposit fiat currency through a local agent, who converts it into Bitcoin and sends it via the Bitcoin network. At the other end of the transaction, the recipient's agent converts the received Bitcoin back into fiat currency, which is then handed over to the recipient. This process is fast, transparent, offers better exchange rates, and the fiat money never leaves the country.
Note: The agent may have various payment methods, and at Acechange, you as a customer choose the payment method or bank that suits you, making the transaction fast and usually free of charge.
Imagine a world where Bitcoin functions as a medium for transferring value (money) around the globe. This would increase transparency, availability, and infrastructure, and mean greater certainty for people. In catastrophic events such as wars or natural disasters, it could save lives. It's symbolic that Bitcoin may have saved the lives of my daughter and wife when the war in Ukraine started. I found myself in the biggest battles, and the first thing that happened was that banks closed their branches and merchants turned off POS terminals and started accepting only cash. Fortunately, I had Bitcoin, which I exchanged for cash at an office that provided buying and selling of cryptocurrencies. I got cash for fueling the car, diapers, and food. Our escape from Ukraine took four days, and without money, we wouldn't have had a chance. This is just one example, the same happened in Pakistan and many other places. If Acechange were to be used globally, even if banks closed their branches and the state completely prevented transactions, Acechange would continue to function. This is our real value – certainty and the invincibility of the system.
Thank you, and we ask you to share our story as widely as possible. We are not funded by any sponsor or company; we are just enthusiasts who believe that Bitcoin can help people live more safely and with greater certainty. Thank you.