Where Centric’s Tokens are Accepted Locally and Globally
Centric Swap (CNS) is one-half of the unique self-regulating dual-token Centric crypto ecosystem. CNS is a conventional crypto that functions as a commerce coin and is accepted by +200 businesses around the world — from PexPeppers’ hot sauce (not for the faint of heart) to London-based Goldgenie offering the coolest (and priciest) smartphone cases you’ll ever see.
Who accepts Centric…
Are you an Entrepreneur, freelancer, or manager of a business accepting cryptocurrency?
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Should you buy CNS?
Or accept it as payment at your business? If you’re the betting type, who likes to speculate on new blockchain projects, sure! Centric has a novel dual-token ecosystem; Centric Rise (CNR) is the flagship coin that is mathematically programmed to increase in value (the Centric Foundation burns CNR every hour), but it can be acquired ONLY by being swapped with CNS.
Centric Rise (CNR) is debatably better as a commerce coin — it’s more stable and should rise in value (as its name suggests) — but CNS is what’s traded on exchanges and supported by crypto payment processors. Centric appears to be small-business friendly, they address the question: Why Bother Accepting Centric?
The best way to answer this question is to look at it from the perspective of the business owner. After all, money talks, and numbers are the consonants and vowels of its language.
What does 1800 CNR translate to in USD? At the time of writing, it’s $208.02.
Sure, there might be some novelty in accepting crypto over fiat. But the question arises…why bother accepting Centric in the first place? Wouldn’t it just be a heckuva lot easier for Chad to accept USD?
Fair question. It probably would be easier. But there’s something special about Centric that the US dollar, or any other fiat currency, cannot compete with. Nor can other cryptocurrencies! What is this special quality we are referring to?
Well, if you’ve been around Centric a minute, you likely have a sense of how Centric Rise works. Namely, that when someone holds Centric Rise, price blocks hard coded to the blockchain force the price of CNR to increase slightly every hour. This means every hour that you hold CNR, it has more CNS “minting power” than the hour previous. For this reason, we say CNR “yields more CNS” every hour.
To clarify, if you get paid in CNS swap it for CNR straight away — CNS is volatile. Hopefully, their adoption campaign will be fruitful in its aim of bringing more small businesses into its ecosystem! A few other credibility indicators…
- Centric’s management is public, refreshingly adult, and headed by Joel Clelland who thoroughly explains Centric’s mission on his Youtube channel.
- The website domain they use, Centric.com, could NOT have been cheap, which suggests that the Centric team is very serious about this project.
- CNS is listed on CoinMarketCap although its market cap is quite low.
Founded in 2020, Centric is a newer crypto project that’s yet to prove itself. CNR is quite new as a token, it’s yet to prove that it will rise perpetually as their whitepaper suggests.
Centric’s crypto ecosystem is not exactly “decentralized” with CNS being the exclusive on-ramp to CNR which is, again, not traded on exchanges.
Centric was conceived with the vision of one day replacing traditional fiat currencies. Blockchain technology will enable a more transparent world and we believe our innovative approach to achieving widespread adoption long term is what sets Centric apart from other cryptocurrencies today.
We believe the largest obstacle to the mass adoption of cryptocurrencies is price volatility. Cryptocurrencies, unlike fiat currencies, do not have a central bank to implement monetary policy focused on stabilizing purchasing power. Thus, changes in demand induce massive price fluctuations. The decentralized model to price discovery has made the majority of existing cryptocurrencies nothing more than stocks or commodities, valued on psychology, traded on unregulated stock markets, and susceptible to manipulation. The lack of price stability has prevented credit and debt markets from forming because volatility incurs a premium. While the rest of the industry focuses on transaction throughput and smart contracts, we focus on solving price stability to realize the economic capabilities that the blockchain enables.
from the Centric Whitepaper