![]() ![]() Wal-Mart, for example, pays about $5 billion a year in credit card processing fees. Most credit card companies charge a 3% fee for transactions, although the fee can be even higher in some cases. High credit card transaction fees cut into a merchant's bottom line in a big way. Since AMP's staking yield is sustainably generated, users don't have to worry that the value will be diluted over time. The more AMP gets staked, the more payments Flexa can process. By working in New York, Flexa has deliberately set itself up to conform to an authoritarian regulatory regime. Flexa is registered in Delaware as a corporation (a prevalent practice), but its headquarters are in New York. Unlike Ripple XRP, the Flexa payments company has gained regulatory approval. There are three key reasons that AMP and the Flexa network could succeed in bringing instant crypto payments to the world: However, that will end once enough merchants use the protocol to support a generous staking yield. Currently, Flexa is propping up the staking yield by distributing tokens from the treasury. What's brilliant about this model is that the staking yield comes from real-world use and does not depend on constant token inflation. The more merchants that accept crypto payments via Flexa, the higher the staking yield. With this model, AMP and Flexa work together to create a decentralized solution to crypto payments. The merchant can accept instant (zero confirmation) payments since they are insured against loss. That's great for the merchant, but what does that have to do with theĪMP stakers receive an income while taking the risk that a small portion of their tokens could be sold to reimburse a merchant. If a customer pulls off a double spend or there is some other problem with the crypto payment, the Flexa network reimburses the merchant. The Flexa fee is usually about 1%, compared to the 3% or higher fee merchants must pay to credit card companies. The merchant pays a fee to accept cryptocurrency payments via the Flexa network. The simplest way to think about Flexa and AMP is as insurance for transactions. In a single sentence: by insuring against loss, the Flexa network allows a merchant to accept an instant crypto transaction without forcing the customer to wait a long time. And it could expand its utility to collateralize trades on decentralized exchanges. Amp gives vendors the peace that they don't have to wait for a cryptocurrency transaction to finalize before moving on to their next customer. If they didn't, there would be no way cryptocurrencies would trade at anything near their current market caps. It can take days for transactions to settle when a network is overloaded, but all of them eventually go through. To spend money on a blockchain peer-to-peer network is a digital wallet and the recipient's wallet address. First, the problem that Amp solves is a small one. On the user end, anyone with a recognized digital wallet such as MetaMask or TrustWallet can use it to spend their digital currencies. and Canada use Flexa to facilitate digital payments. More than 41,000 retail locations across the U.S. Consequently, Amp is now the cryptocurrency collateral of choice on the Flexa app. The wallet developers partnered with Flexa to bring out the payment solution. ![]() A Promising CryptoĪmp was created by Flexa, which operates a payment solutions app. This token is unique because it features programmable agreements ( smart contracts) that lock and release Amp as collateral for transactions made with other cryptocurrencies. The Amp cryptocurrency launched in September 2020. AMP Global Leader for Transactional Crypto Payment. ![]()
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