Review on Paytomat by Danh Huỳnh Ngọc Công
Paytomat is bringing about mass adoption for blockchain industry
Paytomat is a trusted wallet that is good for transferring and storing the digital assets. It supports quite a few blockchains and numberous tokens. With what it has been doing, Paytomat will become a tool for everyday payments in the near future as it is connecting with some merchants and the transaction fees on this wallet is low. I am looking forward to its movements!
Pros
- - There are two modes for users to start using the wallet. They can either create a new one or recover an existing one. When creating a new one, there are two modes. One mode help users to quickly get access the a newly generated address while the other one will ensure users did note down the seed phrases for the addresses. This is an improvement compared to other wallets
- - At the time of writing, Paytomat wallet has adopted eighteen blockchains and many more in the future. It also supports the tokens on three blockchains: Ethereum, EOS, and NEM
- - Paytomat wallet has expanding its business by introducing itself widely to the merchants as a payment tool. In June 2019, they have been used by more than 300 merchants and of course this number will be growing
- - Users' balances can be shown in fiat currencies. There are sixteen of them which can be found in 'Preferred currency' section in Settings
- - The wallet holds occasional IEOs allowing all the users to take part in so they can seize the investment opportunities
- - Paytomat is integrated with a swap exchange letting the users to swiftly swap BTC, DASH, EOS, ETH, and LTC to each other. This is very convenient
- - It issues a native EOS-based token. The token will give users and Paytomat's ecosystem many benefits
- - The profiles of the team behind it are listed clearly on its website. The wallet is also featured on many online newspapers such as bitcoin dot com, The Cointelegraph, or TheBitoinist dot net, etc. Also, it has a clear roadmap for its future targets and documents to describe them in details. Moreover, the project is open-sourced so it is possible to check if it is legit or not
- - Withdrawal or sending fees work like they are on the exchange, which are quite low. The transactions will be very cost-efficient
- - Managing, sending, and receiving cryptocurrencies on the wallet is as easy as a cake
Cons
- - There are many blockchains on the market right now but it supports only eighteen blockchains. A rapid expansion is needed at the present
- - Withdrawal fees for Bitcoin is very high and it is not good for micro transactions. There are some technologies that help to adjust transaction fees and speed and the developers may want to consider them
- - Paytomat only supports the DApps on EOS blockchain but it is a must for users to have an account on that ledger; therefore; non-EOS users may find the function is useless
- - There are a lot of competitors on the market have been doing what Paytomat has been doing. They will have to make more efforts to be competent
- - They don't provide in-app customer support and only email support on web browser is available
