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Questions and StoriesCategory: Questions💰Do You Agree That in the Future All Transactions With LuckScout Use the Digital Currency Pi Cryptocurrency Coin?
Muda Markus Dolopoto asked 3 weeks ago

💰Do You Agree That in the Future All Transactions With LuckScout Use the Digital Currency Pi Coin?

I see the fees taken by PayPal are too high. Not to mention if we exchange our dollars into the currencies of our respective countries. I suggest that from now on, the LuckScout team starts designing in the future when the Pi application reaches phase 3, the Mainnet phase, all transactions with LuckScout use the digital currency, Pi cryptocurrency coin. Do you agree?

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5 Answers
LuckScout Staff answered 3 weeks ago

Sending/receiving cryptocurrencies is not free as well. It can be even more expensive compared to PayPal.

Muda Markus Dolopoto replied 3 weeks ago

I have no experience transacting using cryptocurrency. What I read is transacting with cryptocurrency free of charge, unless we exchange it into an existing currency. Could LuckScout explain what fees are incurred when transacting using cryptocurrencies?

LuckScout Staff replied 3 weeks ago

Usually, transactions among cryptocurrencies wallets have a very low fee. However, when you want to cash your cryptocurrencies, you must pay a lot to brokers. You must move your cryptocurrencies to brokers and they sell them against currencies like USD. This costs a lot and has several fees. If you sell your cryptocurrencies to individuals, then you must agree with the price they offer, while it is risky because they can get your cryptocurrencies but don’t send you any money.

It is not that easy in general.

And it is not free at all.

Muda Markus Dolopoto replied 3 weeks ago

Thanks LuckScout for your explanation.
It is true that it is not free at all. However, if between LuckScout and members send/receive Picoin, it will save more costs. Members pay for membership with Picoin and receive payments from LuckScout with Picoin. And in the future in the Pi application, as disclosed during the convention, a platform such as the Pi Mall will be installed, where goods and service transactions use Picoin. So that when a LuckScout member receives a payment in the form of a Picoin, he can buy something at Pi Mall using his Picoin.
If a member wants to exchange his Picoin with the desired currency, there must be a fee there.

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Kenneth Ogbonnaya answered 3 weeks ago

Is very possible, only time will tell .But, I think it will be easier and cheaper for LuckScout to club  look into the opinion of making pi crypto coins or any other digital currency their main payment method .

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Steinar Kloverod answered 3 weeks ago

It is far too early to use crypto currency as payment for LuckScout payouts. I agree that using PayPal is expensive with their high fees, but for the moment it don’t seem to be another alternative than wire transfer the money.

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Leno Jean Pierre answered 3 weeks ago

I don’t agree with that, all members will not accept cryptocjrrencies as payouts.There are some who don’t know a lot about cryptocjrrencies.

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Ahmad Khasan answered 3 weeks ago

In the future, it might, but not soon. To use Pi, or other cryptocurrencies, the crypto should have become as popular as fiat money for everyday transactions. In that case, we don’t need to convert Pi into fiat money. If we still need to convert crypto into fiat money (our currency), then using crypto for transactions is costly and risky.

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