The goal of Kasta is to allow customers to pay in crypto instantly with zero fees. Transactions through the Kasta App are free of charge when the sender and the recipient use the same cryptocurrency. The project is based on the Polygon blockchain and aims to eliminate intermediaries from cryptocurrency payments.
How Kasta Works
Carl ‘The Moon’, Davinci Jeremie, and Altcoin Daily, the biggest investors in the project, and the entire Kasta team were driven by the desire to create a global payment platform that is cheap, secure, and easy to use. The Kasta platform allows even those with the least knowledge regarding crypto to send and receive payments. Anyone can begin using Kasta by downloading the app and creating an account, after which they can deposit crypto.
The platform currently supports nine cryptocurrencies: Bitcoin, Ethereum, Tether, Polygon, BNB, Binance USD, USD Coin, Cardano, and Kasta. In the future, the team plans to add support for more crypto coins.
Unique Features of Kasta
Kasta has some distinctive features that solve many of the issues customers face using crypto payments. The most notable problems are high transaction costs and lengthy confirmation times. The unique features of Kasta are:
Easy Swap Engine
Users can pick the crypto that they wish to receive their payments in, such as BTC. For instance, a customer can send you a payment in ETH or BNB, however you will receive the payment in Bitcoin.
Buy Now, Pay Later
Kasta utilizes the new Buy Now, Pay Later model, which has been popularized on other mainstream platforms. Users can buy goods from online stores and pick a payment plan that suits them best.
Simple Crypto Wallets
Most existing crypto wallets are too complex for novice users. Kasta eliminates the hassle by simplifying the process. Users can make payments using an email address, a phone number, or even a QR code.
Fiat On And Off Ramp Service
The service makes it easy to spend crypto for real-world purchases. Users can easily transfer funds from and to their bank accounts. It makes making payments directly to debit cards outside Kasta easy. A Kasta debit card is in the works for people to spend crypto anywhere.
Key Investors in Kasta
As we mentioned earlier, Kasta has an impressive list of influential people as early investors in the project. These include: @IvanOnTech, @cryptomanran, @AltcoinDailyio, @Davincij15, @TheCryptoLark, @TheMoonCarl, @Bitboy_Crypto, @MMCrypto, @Bitcoinsensus, @crypto_rand, @MartiniGuyYT, @cryptojack, @rovercrc, @EarnWithSapna, and @TheCryptoZombie.
The $KASTA Token
$KASTA is an ERC20 token that is secured by the Polygon blockchain. It is the utility token within the Ka.app ecosystem. For instance, holders can earn yields for staking or lockups. Additionally, $KASTA will be used for payment conversion fees. Once the Ka.app card goes live, users will have the option to use $KASTA and other cryptocurrencies as payment options when shopping, dining, and buying goods and services.
Lockup is when holders cannot sell their $KASTA tokens in exchange for rewards. Those who lock up their tokens for six months will unlock different tiers and benefits. They will earn APYs, depending on the number of $KASTA locked up. The KASTA team has set a maximum limit of 1 million KASTA for a 15% APY. On the lower end of the spectrum, token holders can lock up a minimum of 50,001 $KASTA.
$KASTA has a total supply of 1.499 billion and maximum supply of 1.5 billion tokens, which means that there are only 542,432 tokens left that can be created. To sustain the Ka.app ecosystem, the team will charge a conversion fee. The plan is to use 10% of that revenue for a buyback and burn program.
The current market cap of $KASTA is relatively low at $4.6 million. $KASTA’s all-time high price was set in January 2022 at $1.4922 per token. The current price of $0.014 represents a drop of -98.9% in value.
Despite this massive drop, interest in the $KASTA tokens remains high. As of August 29, 2023, the trading volume is more than $372K, a 16.41% increase in the past 24 hours. Most of that investor activity has been on Bybit and AscendEX (BitMax), which account for nearly $230K+ of the 24-hour trading volume.
While $KASTA is trading at a huge discount from the ATH, the Ka.app ecosystem holds great potential. There are still numerous milestones in the works, including the launch of the debit card, IBAN transfers, support for Euro transactions, and more. As these features continue to roll out, investor interest in the Ka.app ecosystem will likely increase, leading to a probably resurgence in the value of the $KASTA token.
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