Korean Blockchain/Cryptocurrency startup, Gameper Co., Ltd., has launched ‘Bitro’. It is a global app for trading cryptocurrencies with other digital assets in the P2P market aimed at helping the world take advantage of the special ‘Kimchi Premium.’ Bitro’ supports many payment methods such as mobile gift cards, e-cards, and mobile points.
‘Freedom’ and ‘Secure’ are the two main values ‘Bitro’ brings to the P2P market
‘Bitro’ traders can buy/sell bitcoins by setting a price above or below the currency price. You can either set a price or use a percentage to determine the price you wish to trade. A simple percentage slider is provided for easier interaction. If a percentage is set, the seller’s price will change according to the current market price and the percentage the trader has set. ‘Bitro’ will then calculate all the necessary information and provide the trader with a final price to be traded on. All you have to do is focus on the final price.
The current payment methods ‘Bitro’ provides are bank transfers, mobile gift cards, e-cards, and mobile points. But since trades are conducted via private chats, traders can use any kind of payment method they wish by mentioning different payment methods through hashtags or during a chat. Hashtags can also be used to promote your trade or add additional conditions to your trade.
P2P markets can be tricky since you are trading with someone you don’t know online. ‘Bitro’ wants to change that by providing an automated escrow service with a tight dispute management team. Once a trade begins, the seller’s bitcoins are automatically escrowed. Then the trade proceeds via an automated chat sequence. You will be able to chat freely, but in order to progress the trade, you would need to go through the chat sequences. Think of them as instructions for a smooth and safe trading experience. Once the trade is complete, the seller’s bitcoins are automatically released and sent to the buyer.
All trades can be disputed with the ‘Dispute’ button if a trade does not complete, or something suspicious happens during a trade. The ‘Dispute’ button files the current trade into a dispute, and a ‘Bitro’ representative is contacted. Then the dispute team will contact both parties and review the dispute. Most disputes take less than 30 minutes to be resolved, helping to provide a seamless P2P trade experience.
‘Bitro’ helps traders to make a profit by using the ‘Kimchi Premium.’ The ‘Kimchi Premium’ happens when Korean cryptocurrency exchanges have a higher price than most global exchanges. By using ‘Bitro,’ a trader can sell their cryptocurrencies at a higher price in Korea without the hassle of creating an account in a Korean exchange.
Currently ‘Bitro’ only supports bitcoins as a tradable cryptocurrency but will be supporting a lot more digital assets such as Ethereum, Ripple, Litecoin, etc., in the near future. Gameper CEO ‘ChesterLee’ sees ‘the crypto/Blockchain market becoming more regulated, which is positive for the market and will help expand the global market in general. ‘Bitro’ is available on both iOS and Android devices.