Cryptocurrencies should be a viable and useful alternative to traditional currencies. With that in mind, GitBit the cryptocurrency exchange and payments platform was created.
Let's drive adoption by making cryptocurrencies accessible to all Australians.
Why GitBit? It's a very exciting time in the world of cryptocurrencies, with so many new developments, coins, blockchains and utilities coming out every day. The GitBit team is incredibly excited and passionate to work in this space.
Through our enthusiasm as cryptocurrency hodlers and users, we've come to understand the biggest roadblock to main stream adoption is accessibility.
Remember the first time you bought Bitcoin? Sign up to an exchange, plug in your passport and other forms of identification, deposit your fiat currency via direct transfer, Bpay or Blueshyft. Then after a day of waiting for the funds to clear you finally buy.. 0.01 Bitcoins!
Now what do you do with the Bitcoin you just bought? You can't really spend it in the real world, or you have to go out of your way to track down a merchant who supports Bitcoin payments. At this point, it's not really money. It's harder to use than your bank issued credit and debit cards and to a lot of businesses, it's not worth the effort of implementing cryptocurrency payments when the existing payment mediums work so well.
GitBit makes cryptocurrency accessible to everyone. With GitBit you can pay with Bitcoin, Ethereum and Ripple using your phone or GitBit debit card, at any point of sale system around Australia.
GitBit Payment Platform & Exchange GitBit's goal is to fit cryptocurrency payments into the existing system and infrastructure rather than require each and every merchant who is interested in supporting crypto payments to manually implement them. For the end user this means you can spend your cryptocurrency in the real world instantly, at any merchant with a point of sale system or withdraw your crypto into AUD at all ATMs around Australia.
For merchants this means there is no overhead for supporting cryptocurrency payments and reduced fees for a merchant's GitBit customers who partner with us and advertise they support crypto payments through the GitBit Payment Platform.
The next challenge for a cryptocurrency exchange is allowing their users to easily deposit AUD and purchase their crypto. A very important consideration for GitBit is allowing our users to
instantly deposit AUD through POLiPayments and Debit / Credit Cards.
GitBit Mobile WalletGitBit wants you to be in full control of your cryptocurrency anywhere, any place at any time. The GitBit Mobile Wallet is a wallet with private keys stored locally, meaning not even GitBit can move your cryptocurrency. They're literally in your hands.
Once you have cryptocurrency inside your GitBit Mobile Wallet you can walk up to any business which accepts payments through a point of system and start spending your cryptocurrency. It's that easy. Just tap & pay.
GitBit Debit Card Debit Cards are a major tool of the existing payments infrastructure. They are convenient, reliable and easy to use. GitBit leverages this tool to allow you to spend your cryptocurrency and fiat currencies all through the one card. Although cards are useful as they are, it is important to innovate on the current technology and allow one of the best features of cryptocurrency to be enabled with the GitBit card.
Cryptocurrency allows the user to be in total control of their money, through managing your own private keys and wallets you no longer need a third party like a bank to look after your funds. GitBit wants you to be in full control of your cryptocurrency still and to facilitate this the GitBit Debit Card has a
built in, hardware wallet.
This is an optional feature which allows you to move your Bitcoin, Ethereum and Ripple away from the GitBit Exchange and store them away on the blockchain inside the GitBit Card. The crypto inside the card can still be used for payments, it just means no one but except the end user has access to their crypto.
The Team & Vision We're a bunch of Brisbane boys and girls who have fallen in love with cryptocurrency. As developers, the technology and programming really excites us. Cryptocurrency has really only just begun, with the full utility of the individual technological components which make up crypto not even been discovered yet. There is something important and beautiful in an immutable and mathematically secured technology on the internet, in an age where everything can be duplicated and reproduced.
As young Australians, we look into the future and see something amazing. We have come to realise that the future we see in our minds will only be built by people who take action, who try to make a change for the better, who buckle up for a long ride and put in the hard work. GitBit is a cumulative effort of passion, excitement and drive to change the world, starting with our home, Australia.
When the average Australian can easily use crypto in their day to day life and understand the gravity of power cryptocurrency gives to the individual, we will consider GitBit a success.
The GitBit Token (GBT) The GitBit Tokens are ERC20 tokens from the Ethereum blockchain.
In order to get the GitBit platform finished and delivered as quickly as possible, all proceeds from the token sale will go directly towards development and liquidity of GitBit. This includes actual development and liquidity to enable real world payments and conversion of fiat into cryptocurrency and back.
Token holders will receive a special edition, metallic GitBit Card once the platform is released and they sign up.
The utilities of the GBT Token include:
- Opt in to pay transaction fees with GBT at a discounted rate
- Burn GBT to increase your daily transaction limit
GBT will be listed on some exchanges to be announced later in the future.
If you would like to make any contributions to the project, please message us directly through the forum or email
admin@gitbit.com.auMore information is available in the whitepaper and please ask any questions you have here or on our Discord. We are excited and more than happy to answer any questions you have.
