Why not? It’s all about smart contracts.
Beenest simply charges 0% commissions to hosts and guests utilizing BEE (token), thanks to smart contracts automating transactions that bypass commission-based platforms, financial institutions, and currency denominations.
As the Bee token is used for all transactions, there are no foreign transaction fees or currency conversion fees, and all savings are passed back to the hosts and guests holding the token.
Beenest only takes a tiny cost for “gas” (a few cents per transaction), in addition to a nominal insurance fee to help cover host liabilities. Beenest also welcomes newcomers into the ecosystem by allowing the use of fiat but for a small commission:
- 1% commission for BTC, ETH (or other utility ERC20 tokens)
- 3.99% commission for fiat
This commission is charged for guests when they chose a pay-in method other than BEE, and for hosts who prefer to get paid-out in other than BEE.