GunBroker.com Just Introduced a Cryptocurrency
The new digital coin allows for simple, cheaper and secure transactions.
Looking for an easier, more cost-efficient and secure way to buy and sell your firearms? GunBroker.com has got you covered. The world’s largest online marketplace for hunting, outdoor sports, and firearm products just introduced FreedomCoin, a new cryptocurrency. FreedomCoin is signing up sellers today and targeting a launch for buyers to conduct payment transactions in early 2019 based on standard approvals. For the first time, users will have access to a cryptocurrency for common transactions with impressive ease-of-use and more.
It works like this: Unlike the cryptocurrencies you hear about in the news like BitCoin or Ethereum, the value of FreedomCoin will be equal to a U.S. dollar. Once you get set up you can quickly convert funds from dollars to FreedomCoin and back again though an easy-to-use app from a company called BitRail. BitRail is a blockchain-backed infrastructure platform that lets organizations like GunBroker operate branded cryptocurrencies for payments. So, for example, for $100 dollars you get 100 FreedomCoins to put in your digital wallet.
FreedomCoin essentially replaces other payment methods that cost too much and take too much time. When you use those traditional ways to pay, you get fees that are way too high and there can be annoying chargeback costs. The transfer of FreedomCoins is instant from one wallet to another, so you don’t go through a middle-man intermediary for transactions to clear.
They also basically provide the same protections as credit cards. Plus, you won’t have to worry about confusing conversion rates since each individual FreedomCoin is a one-for-one value with the U.S. dollar.
According to their press release, setting yourself up to use FreedomCoin with a BitRail wallet is simple and only requires a valid email, phone number, and the last four digits of a Social Security number, which is the same information GunBroker.com already requires.
This move by GunBroker puts the focus on its users since other digital payment companies like PayPal have continually turned their back on legal firearms sales. It should also be of interest to users looking to explore new tech areas revolutionizing the industry. GunBroker basically wants to empower customers to make simple, trusted transactions as they see fit, and this cryptocurrency is helping do just that.
Transactions are legal and fully secure. Apparently, payments will actually be faster with the reduced transaction fees too.
“We’ve heard the pain points of our merchant community. GunBroker.com is tapping blockchain technology to replace the need for other costly and time-consuming payment options,” Patricia W. Huff, Director of Marketing at GunBroker.com, said in a press release. “FreedomCoin represents the future of payments and an opportunity for people to use cryptocurrencies for everyday purchases.”
Even more safeguards built into the platform help prevent fraud and ensure that whatever you purchase on there is completely legitimate. Information about who buys or sells what will not be openly shared on the blockchain and will remain private.
As payment methods and technology change, GunBroker.com’s moves with FreedomCoin represents the future of buying and selling over the internet. It’s a fascinating opportunity for users to use cryptocurrencies for purchases that they regularly make without a lot of the hassle.