CryptoRefills Integrates Polygon to Resolve High Gas Fees and Slow Confirmation Times
Amsterdam
Amsterdam, April 20, 2021, CryptoRefills launches Polygon payments to address high gas fees and slow transactions and becomes the first platform to use an Ethereum Layer 2 solution for accepting e-commerce payments.
CryptoRefills, a shopping platform that enables people to shop for everyday needs with bitcoin and other cryptocurrency, has integrated Polygon (previously Matic Network) to offer its users a new super-fast and cheap payment option based on Layer 2 Ethereum Technology.
Payment transactions on Polygon are confirmed in sub-seconds due to faster block generation times while incurring significantly lower fees. This provides a payment solution for faster and extremely low-cost transactions for users who shop with crypto assets like Ethereum (ETH) and other ERC20 tokens.
Due to high demand and network congestion, some of the most popular blockchains including Ethereum have seen increasingly high transaction fees, making the use of crypto for shopping more expensive and difficult for users. The use of the Polygon Network offers the opportunity for CryptoRefills users to buy mobile top ups and gift cards paying in ETH, USDT (and soon other ERC20 Tokens) and experience immediate delivery and close to zero transaction fees.
Massimiliano Silenzi, CEO of CryptoRefills said: “Our data shows that when it comes to purchase experience, fast transaction times and low fees are what matter the most to our users. I believe that layer 2 scalability will hugely improve the experience of using different cryptos including stablecoins for everyday shopping. Our first Ethereum layer 2 payment solution with Polygon is a great step in this direction”.
Sandeep Nailwal, Co-founder of Polygon commented on the integration: “We are excited to partner with Cryptorefills and bring fast and inexpensive transactions to their community. The aim here is to deliver a UX which is fast, intuitive, responsive and highly scalable“.
About Cryptorefills
Cryptorefills is on a mission to enable people all over the world to spend Bitcoin and other cryptocurrencies for their everyday needs. With Cryptorefills, people from over 150 countries and territories can top up their mobile credit and buy gift cards with Bitcoin and other crypto from the world’s largest digital and retail brands. As one of the earliest adopters of the Bitcoin Lightning Network, and as the first company in the world to launch Ethereum layer-2 payments for e-commerce (via Polygon Matic and Arbitrum) and to use fast finality blockchains (via Avalanche and Fantom), Cryptorefills is leading the innovation in applied decentralized payments and developing new technologies for the gift card industry.
Cryptorefills is also very active in researching and educating on consumer spending of cryptocurrency in retail through its Labs initiative and publishes an annual report on the global use of crypto for purchasing goods and services.
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media@cryptorefills.com