💱The most important functions of cryptocurrencies

One of the most important features related to cryptocurrencies are:

• Buying and selling with fiat currencies

• Buying and selling with a credit card

• Exchanging one cryptocurrency for another (Swap)

• Trading cryptocurrencies (Exchange)

• Deposit and withdrawal of cryptocurrencies

Since we have been working with cryptocurrencies every day for many years, we are familiar with the weaknesses of the currently offered services. Many people do not want to open an account at a cryptocurrency exchange or they simply lack the knowledge to do so. The same applies to creating a wallet.

Additionally, security is a major factor, as we continually hear about hacks or stolen keys. The use of a hardware wallet is recommended, which often involves high costs and further knowledge.

Costs of Transactions

Most providers only implement the Ethereum blockchain. However, the fees for ETH transactions are very high. We are talking mostly about double-digit amounts in Euros for a transaction or the execution of a smart contract (contracts on the blockchain), such as the exchange of one token for another directly on the blockchain.

Here, the focus of ONE is on implementing the possibility to use many different blockchains. Deposits and withdrawals should work with many different blockchains. For this, we currently have two partners in mind to make this possible.

At the same time, we want to implement a cold wallet connected to a credit card-sized hardware wallet to provide the highest level of security.

Purchase of Cryptocurrencies

The problem of buying cryptocurrencies with fiat currencies (for example, Euro) is directly resolved at ONE, as a full IBAN account is available. You can top up this account via bank transfer or credit card within seconds and then immediately buy the desired cryptocurrencies.

Ideally, you would use ONE as your preferred 'account' and have your fiat reserves directly available without having to make a deposit. That is the goal we are pursuing at ONE. When it comes to finance, ONE is the only app you will ever need.