ZoidPay’s price has more than doubled in the past 24 hours as investors believe it could be the next big thing in the cryptocurrency industry. According to CoinGecko, ZPAY is trading at $1.76, which is significantly higher than last week. Its market cap has reached over $584 million, making it the 146th largest coin in the world.
What is ZoidPay?
ZoidPay is a relatively new blockchain project that caters to retail, DeFi innovators, and other blockchain industries.
The retail section of the network allows users to pay from multiple sellers using the digital currencies of their choice. You can pay for Netflix, Amazon and even McDonald’s subscriptions using its Chrome extension. The extension also provides unlimited liquidity for the network and gives users instant cashback.
For developers, they can use the ZoidPay SDK to create quality decentralized applications (dApps) in all industries. It is mainly useful for people building DeFi applications as it guarantees instant liquidity.
According to its roadmap, the developers hope to forge several strategic partnerships, list new tokens, add a gamification layer to its project, and introduce a physical shopping card.
ZPAY is the native token of ZoidPay. It is a cryptocurrency that one can stake and earn rewards. To achieve this, the developers have partnered with Elrond’s Mair to ensure that people can earn up to 25% in returns on the network.
A few days ago, the network announced that it had partnered with GSR, a leading company in the market-making of digital assets. The partnership means that the network will be able to increase the accessibility and liquidity of the ZPAY token. GSR facilitates trade worth more than $4 billion per day.
Is ZoidPay a purchase?
A first look shows that ZoidPay is a good investment. Moreover, its price has more than doubled in recent days. Also, it seems to be using a different model to bridge the gap between fiat currencies and cryptocurrencies. So it seems like a good investment.
However, the challenge is that it is currently a bit difficult to buy it because it is not offered by popular cryptocurrency apps.