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Bitpowr’s New Collection Policy Features

Discover Bitpowr's latest collection policy update, offering financial businesses a versatile and comprehensive solution. With the ability to choose operation triggers, convenient 'Approve' and 'transferFrom' functions, flexible 'Swap,' and versatile 'ChangeTrust,'

Rebecca lalav
Rebecca lalavNov 03, 2023
Bitpowr’s New Collection Policy Features

Bitpowr has introduced an exciting update to its collection policy – one that gives you more control and freedom when it comes to transaction operations. Let’s delve into the latest developments and see how these new features can enhance your asset management.

Operation Triggers

The heart of Bitpowr’s new collection policy update lies in the ability to select operation triggers, which include the following:

1. Transfer

The “Transfer” operation is a fundamental aspect of asset transactions, allowing for the efficient movement of assets from one asset address to another. This operation is particularly useful when handling transactions for businesses, as it offers a streamlined and effective way to manage asset transfers.

2. Approve and transferFrom (ERC20 Special Functions)

The “Approve” and “transferFrom” functions are essential for those dealing with Ethereum-based ERC20 tokens. These functions allow you to grant permission to a specific address to pay for all your token transfer fees without having to fund your address with gas every time you need to spend your tokens. By using the approve and transferFrom functions, you can simplify the transaction process, and make token transfers more convenient and user-friendly

3. Swap

Bitpowr’s new swap feature allows users to easily exchange popular cryptocurrencies using the Bitpowr API and Dashboard. This simplifies the process of diversifying your crypto holdings or capitalizing on market opportunities by making the swapping process fast and convenient.

4. ChangeTrust

“ChangeTrust” is a transaction operation designed to enable an asset to receive tokens from a specific blockchain. Bitpowr currently supports this operation on the Solana and Stellar blockchains, providing you with the flexibility to manage your assets across different blockchain seamlessly. For instance, you can enable USDT on the Stellar blockchain to receive USDT_XLM, allowing for more efficient cross-chain operations.

Customization and Control

The ability to select operation triggers is all about customization and control. It allows you to tailor your collection policy to your specific needs and preferences. When managing the finances of your business, having the power to choose the right operation triggers for your transactions is a game-changer.

Enhanced Efficiency

The new collection policy features not only offer customization but also enhance the efficiency of your cryptocurrency management. The streamlined processes simplified approval mechanisms, and the ease of swapping between cryptocurrencies ensure that your transactions are executed seamlessly and without unnecessary delays or complications.

Multi-Blockchain Support

By supporting multiple blockchains, Bitpowr enables you to extend your reach and manage your assets more efficiently. Whether you’re dealing with Stellar or Solana, the “ChangeTrust” feature allows you to customize your collection policy to your specific needs and preferences. This feature is useful when you want to manage assets across different blockchain ecosystems, making it more convenient and user-friendly.

In conclusion,

The updated collection policy from Bitpowr brings a host of benefits to the table. The ability to select operation triggers, along with the convenience of the “Approve” and “transferFrom” functions, the flexibility of “Swap,” and the versatility of “ChangeTrust,” offers financial businesses a comprehensive solution for their transaction needs.

These updates empower users to customize their policies, enhance efficiency, and leverage multiple blockchain ecosystems, ultimately providing a more robust and versatile cryptocurrency management experience. Access it Now

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