Crypto-related services tend to become popular during the first few months. Sustaining such a trend is often very difficult Convenience plays a crucial role for users across the globe. ParJar might be checking a lot of the right boxes in this regard. The Telegram-based service allows for conveniently exchanging dozens of cryptocurrencies.
The ParJar Service Explained
Up until now, nothing has been convenient or straightforward about exchanging cryptocurrencies. Obtaining them is the smallest hurdle to overcome. Trading those assets intermittently is a lot more complex than novice users envision. Finding a more suitable and fun experience is a challenge. The Parachute team developed ParJar with this idea in mind.
The company’s goal is to make cryptocurrency fun and easy to use. By adding in a social element, achieving such a goal is not all that difficult. ParJar positions itself as a convenient experience which is fast, free, and easy to use. All one needs is a Telegram account. Given the popularity of that messaging service, there is a large market waiting to be tapped.
The Supported Currencies
Services like these stand or fall based on the number of supported assets. ParJar primarily focuses on Bitcoin, Litecoin, Dogecoin, Ethereum, and Bitcoin Cash. Furthermore, 25 different ERC20 tokens are actively supported. That list includes Basic Attention Token, OmiseGO, and several others. All of these choices are rather solid, although opinions will always differ in that regard.
The big question is which assets will be added in the future. Although the current list is solid, there is always room for improvements. Some people may wonder why Wys Token, Request Network, or PurpleCoin are on this list. There are a lot of prominent assets in the market cap top 20 which are not on this list as of right now.
Attracting non-crypto Users
The ParJar offering has its merits in many different ways. It is a service which mainly caters to existing cryptocurrency users. While the team claims otherwise, it is a service which requires users to already own cryptocurrency. Unless that barrier to entry can be removed, projects like these will always remain rather niche.
That doesn’t mean things won’t improve in the future. A new way to purchase cryptocurrencies with traditional tools needs to be found. ParJar shows the core functionality is there, yet it lacks integration to make it happen. Tackling that problem is not an easy task. Banks simply dislike Bitcoin and altcoins. It seems unlikely that will change in the years to come.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.