TerraCredit — The Complete Financial Solutions Ehancing Global Utilization of Cryptocurrencies

‘CREDIT’ is a cryptocurrency and a decentralized digital payment solution for the world’s unrestricted adult population. They see CREDIT as a viable alternative to cash and a rewarding option that appeals to new users.

7 min readAug 2, 2020

As you have seen about the blockchain technology sprouting up with bitcoin and other major currencies, and the adoption of a wide range of cryptocurrencies seems impossible with the blockchain structure and consensus protocol on which these networks are built. up on it. Many solutions have been proposed by other blockchain networks, but I think TerraCredit is one of the truly outstanding solutions, considering the team’s enthusiasm for this project as well as efforts towards implementation. their goals.

Infomatin Project:

As is known about it, this is a project promoted by Terra Foundation, an international company. The company is currently registered in South Africa, Nigeria and Colombia. It has infiltrated into other countries like Ghana, Uganda, India, China, etc.The following Terra Foundation products are designed to complement and reinforce each other.

I discovered that Terracredit has permitted clients to urge to their cash on every single brilliant gadget and dealing frameworks through computerized wallets. Both work area and portable wallets have a basic however appealing UI that improves the client experience when individuals communicate with it. With the group that has created items, for instance , Terrabit, Terra-store, Terra-center and completely operational credit card installments for Nigeria, Paystack makes robotized exchanges with no impact from the outsider framework.

Details about the product content available on Terracredit:

CREDIT COIN: Credit is a world payment system that’s a faster and cheaper alternative to fiat (cash). it’s a transmission speed of but one second and a zero transaction fee. it’s fast gaining mass adoption amongst the billions of the unbanked people of Africa, Asia and Latin America .
TERRABIT: this is often an Exchange platform where you’ll trade over 90 crypto currencies against various cryptos and fiat.
TERRAMART: this is often a world online shopping platform (like Jumia, Shopify, Alibaba, etc). In Terramart you’ll shop items online and pay with Credit coin.
TERRA-BIT APP: This App is employed convert Credit coin to fiat currencies like Nigerian Naira (NGN), South Africa n Rand (ZAR), us Dollar (USD), Colombian peso , etc. It also enables cold mining of Credit coins with a sensible phone. No need for constant power supply, desktop, server, GPU, and other expensive requirements.
WALLET BETA: this is often a digital wallet for storing Credit coin. it’s a chilly wallet, ie the keys are saved offline in order that there’s no possibility of any online rogues hacking into your account.
MINIPOS: this is often an App for staking Credit coin and getting a profit of 100% once a year . The staking profits are paid hourly to make sure that you simply have a daily flow of income. you’re liberal to reinvest your profit for a compound rate of return. you’re also liberal to withdraw you profit and/or capital any time.
DIGITAL BANK: Terrabit has established a full fledged digital banking hall in Port Harcourt, Nigeria. this is often the primary of its kind worldwide. it’ll later spread to other parts of Nigeria, South Africa, Colombia, Ghana, Uganda, etc.
ATM & POS POINTS: Early in 2021, Terrabit will introduce virtual and physical Debit Cards to enrich its digital banking operations. The ATM or Debit cards will enable the exchange of Credit coins to fiat monies like Nigerian Naira, South African Rand, US Dollar, Colombian peso , etc. POS machines and ATM points shall be deployed across the varied nations for this purpose.
TERRABIT DAO: On 1st August, 2020, Terrabit will become a Decentralized Autonomous Organization and can offer opportunity for investors to accumulate Master Nodes. this may create massive financial empowerment for those that will seize the chance

Features:

Users benefit greatly from the platform & Terra-Credit has the potential to replace money in wallets & mobile phones. It offers users a magical experience to handle the new financial system, which is a better alternative for them.

This platform is user-friendly, rewarding & faster than other cryptocurrencies which confirm it keeps its name at the summit within the tread of crypto-currency. The funds are safe & are often accessed whenever required.
It’s easy to access, understand & operate. An individual unequipped with technical knowledge also will be ready to use this platform. Credit is supported on a tool you already own.
Image for post
Negligible amount of fee which is $0.00000003 to send money anywhere anytime & even faster than other platforms. It can handle many transactions every minute. The longer term version is proposed to try to transactions within a second.
People generate extra money automatically if you’ve got money present in Terra-Credit. Users can choose long-term investment & getting an outsized amount of interest.
They have a wallet for Windows, Mac, Linux & Raspberry PI users. Users have the choice to make an internet wallet or a Terabit wallet. Anyone can start using it with an online connection, and Google account.

TerraCredit realizes the efficiency of mobile usage with a better percentage of device users worldwide, counting on smartphone communications. It came up with Terrabit, a mobile application to enable staking and exchange wherever you go. To achieve their long-term goals of adoption, TerraCredit focuses on specific sectors of CREDIT usage:

CREDIT as a payment alternative for the world’s unbanked: consistent with their research, nearly 50% of the population in developing countries lack bank accounts. However, with phones, CREDIT brings an alternate for payment to those people.
CREDIT as a cryptocurrency: CREDIT meets all the wants to be a legitimate cryptocurrency. However, it contains improvements as a symbol of Stake coin with no demand for hash power. It also provides nearly free transactions at faster transaction rates. The open-source code allows users to utilize it on other platforms besides Terra.
CREDIT as a Cash Alternative: Terrabit wallet facilitates immediate digital payments globally. Online payment solutions to include include Point of Sale, tap and pay, and QR scanning. Terra keeps in mind the necessity for security and value during the buying of products and services — CREDIT offers that.
CREDIT as a Driver for Long-term Investments: CREDIT aims to supply users with a viable investment on a web wallet. By holding coins on the network, the system automatically stakes them for you while you earn rewards successively. Airdrops are other aspects of the system that provides an alternate sort of earning. It further holds simplicity as a trait to handle the requirements of each quite stakeholder.
CREDIT as a gift for Block Producers: Proof of Stake algorithms rewards block producers without expensive equipment or high computational power. Supporting the blockchain pushes decentralization, further ensuring everyone benefits while using the system.

A listing on MyCointainer would catch on a step closer to worldwide popularity as users will get an opportunity to interact with over 65 Proof of Stake coins on the network. Besides the Terra community, users would further be ready to interact with a highly rewarding community on MyCointainer, favoring them for his or her contributions. Overall, a maximization of earnings is inevitable.

Credit Swap:

The rate of exchange is 1000: 1 in favor of the new currency. This simply means for each 1,000 old coins. You’ll receive one among the newly minted coins. Anyone who isn’t caught during this exchange will lose their money, because it is going to be stuck on the old blockchain.

Platform:

The following statement will be understandable when you can understand it, the platform is very stable and the value of the cryptocurrency is still stable thus similar to any other precious metal. Credit is like a chain of digital signatures, transfers signed from owner to owner. Users receiving Credit in the form of payment can verify the signature to verify the person to whom they received payment.

And the use of Proof of Stake makes the platform transparent and anyone can check the number of credits or blocks they own. Block producers are chosen based on the balance and maturity of coins, making the platform predictable.
Moreover you can buy CREDIT coin on online exchanges: Terabit, Catex and BitForex, etc. Users holding their balances will receive 100% of their annual profits and long-term investments can also be made. If the balance in the wallet is not used, then after 8 hours, that money will be deposited into the network and the user will receive a new money reward. I think with such a platform will be an extremely beneficial thing for users.

CREDIT on CoinMarketCap: https://coinmarketcap.com/currencies/credit/

Conclusion:

For me, this is a project that offers users a magical experience to handle the new financial system, which is a better alternative for them. And the project has made mining useful and easy, acting as an incentive to encourage irresponsible users to switch to decentralization.