CryptoRefills now supports payments over Arbitrum for faster transaction finality and reduced transaction fees
Tags: #Arbitrum #CryptoRefills #Scalability #Layer2 #Payments #Giftcards #Crypto #Cryptocurrency #Blockchain #Giftcards
Amsterdam, February 2, 2022, CryptoRefills, a global player in gift card retail and mobile top ups that pioneers blockchain payments, now supports payments over Arbitrum, a scaling solution for Ethereum to offer its users faster payment experience and reduced transaction fees.
As Ethereum has become a popular platform for building decentralized applications, the significant surge in adoption has pushed the network to its limits while sending transaction fees through the roof and leading to high congestion. As a result, payments with cryptocurrencies or any ERC20 tokens including USDT, USDC, DAI have become expensive for users when purchasing goods and services. CryptoRefills has now integrated Arbitrum, a scaling solution for Ethereum that drastically reduces costs and latency to address these issues.
CryptoRefills market studies about the adoption of cryptocurrencies in payments indicate that there is an inverse correlation between the volume of the transactions waiting in the queue and the crypto-shoppers’ likelihood of using cryptocurrency to pay for the goods and services. The adoption of Arbitrum, an Optimistic Rollup scaling solution for Ethereum drastically addresses this problem by reducing transaction fees and congestion while boosting its speed and scalability.
Furthermore, the Arbitrum community can now have access a vast range of gift cards and mobile top ups in CryptoRefills catalog while enjoying a streamlined payment experience with lower fees.
Arbitrum is a scaling solution for Ethereum that drastically reduces costs and latency. A so-called “Optimistic Rollup”, Arbitrum instantly scales apps, reducing costs and increasing capacity, without sacrificing Ethereum’s security. Porting contracts to Arbitrum requires no code changes or downloads as Arbitrum is fully compatible with all existing Ethereum developer tooling. Arbitrum has launched Arbitrum One on Ethereum mainnet and is open for developers, and the team is already working with hundreds of teams ahead of its upcoming release to the public.
CryptoRefills is on a mission to enable people all over the world to spend their cryptocurrency for real-world good and service and their everyday needs. With CryptoRefills, you can pay with cryptocurrencies to top up your mobile credit and buy gift cards from some of the world’s largest digital and retail brands.
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