Taproots is keenly aware that digital currencies are increasingly popular. It must be kept in mind, however, that the projects on this platform are not trying to raise funds just to have them sit in their crypto-wallets. They intend to actually use the funds to finance their project. For the most part, then, that means converting any crypto funds into fiat, where it can then be used to pay for services and products which tend to only be available through fiat.
For this reason, the purchase of seed money with crypto is the primary way that cryptocurrencies will be utilized on Taproots.
A purchase of seed money with crypto will be deposited into a donor’s account for using to donate to creators within 1-2 business days. The actual turnaround varies based on the actual currency used. For example, using the Taproots platform’s preferred ‘crypto’, Kinesis, would be processed more quickly than others, which take more time to move their way through the blockchain.
The next crypto to be enabled on Taproots.us is likely to be XRP/Ripple.
A creator could conceivably receive funds via Kinesis or in a digital wallet.
If you are a creator who would be interested in receiving some or all of the funds raised via crypto, email us at email@example.com before issuing seeds.