What is Tracto (TRCT) Crypto Beginner’s Guide
Ever face a moment where you try to send money abroad only to have a teller say they can’t do the transaction for one policy excuse or another? Tried to send money only to have a massive fee required on top or get your transaction completely denied?
Many people who use MoneyGram, Western Union and banks often face these problems, especially, if they have friends and/or family in countries that are considered unreliable.
The banks and other financial institutions claim that these roadblocks are for our “protection” and to prevent illegal activities. But it only really leaves many people flustered and inconvenienced. No one wants to be treated like a criminal just for trying to send a couple hundred dollars to grandma or cousins abroad, right?
Or worse you use PayPal or all those other money transfer platforms only to have to deal with nosy power tripping people who cancel your transactions despite you going through their proper channels. There are many stories out there about MoneyGram preventing people from sending funds to countries like Russia, parts of the Middle East, various African countries, India, and so on.
Are there reasonable concerns with the world’s current state of geopolitical issues? Definitely, but not everyone is a criminal supporting evil masterminds or terrible religious groups. Some people just want to send money back to their home countries to help prevent their family members there from starving or worse.
Cryptocurrency arose from these sorts of situations so that people could have a safer, secure alternative to modern-day banks and money exchange companies. Bitcoin was one of the first to make it a priority in giving people an altcoin that wouldn’t have to rely on a bunch of fiat currency exchanges, excessive fees, and other cross-border limitations.
But Bitcoin has its own drawback – it is too centralized still. So how can people keep their privacy, security, and freedom to send money where ever they want without having to rely on redundant financial institutions? Is there a way to make sure money is exchanged with little to no fees? Will there be other ways to attain the cryptocurrency too?
Tracto: Bypassing Financial Institutions for Money Transactions Worldwide
Tracto is a cryptocurrency platform that hopes to become a better version of Bitcoin without all the limitations Bitcoin has. The developers have made it their goal to provide a fast and secure method for all cryptocurrency and fiat currency transactions around the world.
Whether it be peer to peer or business to customer, Tracto wants to make sure their users get the fast service they need without all of the limitations.
How Does Tracto Work?
Tracto is mainly a decentralized transaction network that utilizes its own digital currency. It operates for now on the Ethereum blockchain but the developers hope to soon switch Tracto onto its own blockchain. This is because they want users to one day mine Tracto like they would Bitcoin.
Tracto uses a sort of transaction ecosystem for its platform.
- TractoPayAllows users to have online banking access, provides bill payment options and allows people to do online shopping/booking with cryptocurrency.
- KryptoHavenOffers users a secure escrow function. Members can use the marketplace, make trust-based transactions, and get the perks of a community/merchant reward system.
- KryptoChargeGives users a mobile application to reload on their Tracto coins and allows transfers internationally.
Final Thoughts on Tracto (TRCT)
For people who want an anonymous alternative to Bitcoin, you can definitely go for the Tracto transaction network. It allows all the perks of Bitcoin with a more secure environment, faster transactions are energy efficient, and there will be no issues of any Tracto inflation. The developer team of Tracto purposely capped the altcoin at 70 million Tracto in circulation.
However, this may change in the future.