Dether announced the release of their mobile app, allowing users to access cryptocurrency and trade it with fiat from their smartphone.
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Mobile app to be released in June, shortly after software release
Beginning June, users from all over the globe will be able to use their phone for trading with others near them. Fellow traders are quickly located thanks to Dether map, the applications integrated tracking system.
Dether’s decentralization means better experience for users
With the application being decentralized, there’s no central point of failure. This makes it difficult for any government or entity to try and shut down the service, or restrict trading.
This also has the benefit of mitigating the risks of stolen funds, as there is no single point where all money is accessible.
Mehdi Amari, Dether co-founder, stated:
“We are building a fully decentralized cash-in and cash-out marketplace, meaning that no central entity has any control over the user’s accounts, funds, or conversations. No funds are held. Each individual has his own private key locate in his device. Conversations are fully decentralized and peer-to-peer. The decentralized reputation system is based on the user’s number of trades and volumes. As a company, we don’t take any fees on the transactions between buyers and sellers.”
Dether to target the 2 billion unbanked with app
No bank account is required, meaning Dether also caters to the large portion of the world still unbanked.
Hamid Benyahia, Dether co-founder, had this to say about targeting the unbanked:
“We are thrilled to be releasing the Dether app across countries in Africa, South America, and Asia. There are more than 2 billion adults that remain unbanked in these regions. Whether it’s for remittance, investment, or as a response to hyperinflation, we believe that these markets are in critical need of the ability to easily buy and sell cryptocurrency for cash.”
Cryptocurrencies are already seeing countries from South America and the Middle East purchasing as much Bitcoin as they can, especially in countries of political instability or hyperinflation.
Due to inefficient and illiquid markets, these countries tend to pay a massive premium compared to more accessible markets. Dether looks to fix this, by allowing anyone to become an exchange and set their own fees.
The marketplace also takes no fees when purchasing crypto or cashing out to fiat.
There are no geographic restrictions, no need to submit passports or other identification documents, and no worries of a person’s fiat currency of choice not being accepted.
For merchants looking to advertise cryptocurrency acceptance, Dether has them covered as well. “Dether for Shops” was released following the companies token sale in February, allowing sellers to stake DTH (Dether’s native currency) to be listed on the Dether map.
Dether co-founder, Hamid Benyahia stated:
“In terms of user experience, it’s much like the process of searching for a nearby café or restaurant on Google Maps, but in this case, you’re looking for a place to spend your cryptocurrency. This represents a unique opportunity for merchants and the crypto community,”
Users interested in testing the app can register for early access by visiting Dether’s website. Users can also visit the website to read the whitepaper and learn more about Dether. To talk with the community and team, visit their Telegram channel. For information and social media, follow Dether on Twitter, Facebook and Medium.
