eCredits Review

6 min read

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In the world of Crypto, there are numerous currencies that come and go, most of which trend for a short period of time and then decrease in value. The one that we are going to be reviewing today is eCredits, also known as ECS, not to be confused with our company, Elite CurrenSea (ECS), eCredits is a blockchain-based platform founded by a small group of Luxembourg-based enthusiasts with the goal of increasing the adoption of cryptocurrencies by providing a straightforward alternative for merchants and their consumers. 

At this point, the project’s staff has set a goal for the cryptocurrency ECS fuelling the network to become “the people’s money.” The project is primarily aimed at the European region, although also available on other continents. Aside from EU members, the list of supported areas includes nations like the UAE, Qatar, Malaysia, and others.

According to the white paper, the project’s primary goal is to bridge the gap between the interests of the worldwide financial industry and local consumer chains, in collaboration with MSMEs (Micro-, Small- and Medium-sized Enterprises). To address this issue, eCredits launches a blockchain-based platform for thousands of merchants and service providers, allowing them to reach out to their customers via a uniform system. Merchants may save money on establishing their own infrastructures by using a variety of out-of-the-box solutions, and they can also enjoy quick processing choices and their own incentive system.

MSMEs seek to provide the products and services that their local customers want on a daily basis. They hope to tempt them by allowing cryptocurrency transactions while raising their margins through lower transaction costs. The following are the major challenges that MSMEs are now facing with digital transactions:

  • Access to the financial markets and their tools is restricted.
  • Competing with MNCs in current marketing techniques and client retention
  • Accepting credit/debit cards incurs high transaction costs of 3%.
  • There is no simple and efficient mechanism for implementing crypto acceptance.

Shoppers and customers want to be able to buy the items and services they require without having to travel or wait. They want to contribute to sustainable purchasing and their communities if they are compensated. Consumers are presently confronted with the following major issues:

  • There is no simple way to conduct crypto transactions for everyday goods and services.
  • There are no additional incentives or benefits for purchasing locally.
  • Local retailers’ lack of knowledge or tailored offerings

How did eCredits find the solution?

ECS is a cryptocurrency that lives in isolation from fiat currencies. The ECS token is not a stable coin, and its value is decided completely by supply and demand. Its mission is to become shoppers’ preferred cryptocurrency for use in everyday life.

Transactions may be executed in real-time and at a minimal cost since the ECS token is housed and transacted on the eCredits blockchain, which is built on the eco-friendly PoA consensus. The ECS token is free-floating and openly available on crypto-exchanges such as Blocktrade, allowing customers to easily trade and acquire eCredits.

Merchants and local customers gain from a simple and easy-to-implement technique for accepting cryptocurrency, the opportunity to get liquidity rapidly (in comparison to debit and credit cards), and greater revenues due to decreased transactional costs. Furthermore, the marketing options given by the eCredits wallet enable retailers to boost client retention by providing specific incentives in the form of eActivity awards to consumers.

Consumers benefit from the opportunity to use eCredits via the user-friendly eWallet App at local retailers or online while earning eActivity points for doing so. They may also take advantage of exclusive discounts accessible only in the eCredits ecosystem.

Where Can I Purchase eCredits?

eCredits (ECS) is available on major cryptocurrency trading platforms such as Binance, Coinbase, etc.

Where and How can I use the ECS coin?

ECS may be used in stores, online shops, pubs, and restaurants, as well as for peer-to-peer transactions, with its own customized wallet. 

Furthermore, the eWallet App includes features like the integrated incentive program eActivity, which pays users for their participation inside the eCredits ecosystem, and eCashback, which delivers direct payback at acceptance points. The eWallet App is available for download in the Apple App Store and on Google Play in the selected countries only.

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