EOT payments are easier to make than debit or credit card purchases, and anyone can receive it as all that is required is a wallet application.
Payments are made from a wallet application, either on your computer, laptop or smartphone, by entering the recipient’s address, the payment amount, and pressing send. Some wallets use QR codes to make the exchange of recipients’ addresses easier.
What are the advantages of EOT?
- You are in control of your own money It is possible to send and receive EOT anywhere in the world at any time. No banks or other middlemen and the fact that the network is always running means you can transact 24/7. No bank holidays. No borders. You can send EOT in a few seconds to anyone in the world.
- Low fees – There is no fee to receive EOT, and many wallets let you control how large a fee to pay when spending. Fees are not related to the amount transferred, so it’s possible to send 1000,000 EOT for the same fee it would cost to send 1 EOT.
- Fewer risks for merchants and perfect for IOT Devices – EOT transactions are secure, irreversible, and do not contain customers’ sensitive or personal information. This protects merchants from losses caused by fraud or fraudulent chargebacks, and transactions can also be used for encryption in IoT backend applications. Now even machines will have wallets! Merchants can also easily expand to new markets where either credit cards are not available or fraud rates are unacceptably high. The net results are lower fees, larger markets, and fewer administrative costs. The IoT market opens new avenues of value transfer.
- Security and control – EOT users are in full control of their transactions; it is impossible for merchants or banks to force unwanted or unnoticed charges as can happen with other payment methods. EOT payments can be made without any personal information tied to the transaction not only does hhis offers strong protection against identity theft but it means devices, machines and AI [Artificial Intelligence] technology can now own wallets. This creates a secure user2user economy with no 3 party interference. EOT users can also secure their currency with backup and encryption.
- Transparent and neutral – All information on the EOT blockchain, such as money supply is available for anyone to verify in real-time. No individual or organization can control or manipulate the EOT blockchain protocol because it is cryptographically secure. This allows EOT to be trusted for being completely neutral and transparent. Trust has been moved from 3rd parties such as banks to mathematical certainty
And you can start right now, it is completely free to download your EOT Wallet: – https://eotcoin.org/resources/
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Introducing you to the Embedded Vault
Turn your computer into a secure, encrypted hardware device
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What is EOT – Encryption of Things?