Instant Real Time, BitPay for example is a load feature, Centra is a instant feature, where it takes market rate at the moment of the swipe.
That does not explain Robert's contradictory answers so I'd like him to respond.
He initially confirmed that the cryptocurrency 'selection' process from the user's mobile wallet locked in a cash value against the balance held in that cryptocurrency,
The whole point of this service was that users would be able to store the cryptocurrency safely and for the transaction to deduct the equivalent amount only as and when card expenditure is triggered, but this 'selection' process you describe can only be for the purpose of setting a fixed cash value, which means there is no benefit over existing cryptocurrency card services.
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That is correct, and that is how the system works.only to then later assert that it was during the transaction at the card terminal which set the exchange rate in real-time.
When you, as the user, makes a swipe/online transaction, at that instant moment we are giving you a market exchange rate to fiat conversion that allows the charge to be approved. We also have a formula to configure slippage as we use numerous exchanges connected to CCE via APIs to always perform the safest/closest transaction exchange.
@CentraTech Robert:
So which is it? Does the 'selection' process fix the rate to be whatever Centra is offering until the cryptocurrency is 'deselected' by the user, or does it provide for a real-time exchange rate at the time of the transaction?If it is, as @dashingriddler claims, the latter, why did you confirm that in-wallet coin 'selection' assigns a cash value to the balance at the time it is set by the user?
Hey Cryptodevil,
Just to clarify from an official source so their is no confusion:
The "Selection" process is only to set the asset to be used in our system and card.
The "Selection" process to make the asset "active" doesn't do any conversion itself but merely sets the asset to be used on a transaction when performed.
When, and ONLY when, a swipe/online purchase is performed does the system do a real-time conversion. Other than that the asset always stay as a cryptocurrency asset. The app does not also have to be open when performing a swipe as the "active" asset is the one used in the real-time conversion.
If you want a card to test it out and give, hopefully, some reviews on it, shoot me a PM so we can make those arrangements, if not I am sure user videos will surface very soon over the next several weeks so you can see for yourself.
Thanks & Happy Holidays,
-Robert F.
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