Nimiq cashlinks make sending money as easy as sharing a YouTube video
Sending money to family and friends can be a pretty frustrating task, even with modern remittance services such as Western Union. Not only is the service burdensome, but fees and waiting periods take away part of our money’s value and can even defeat the whole purpose of sending the money in the first place if we were in a hurry.
Services like PayPal are, to a certain extent, comfortable to use. Then again, fees and relying on a central authority can make us wonder whether we’re in control of our own money when using the platform.
The potential answer are cryptocurrencies. Bitcoin, Ethereum, and Dogecoin, for example, solve the problems mentioned above but inadvertently introduce a new one: usability. Asking your grandma to send you some Bitcoin can seem ridiculous, as only somewhat tech-savvy individuals use cryptocurrencies nowadays.
Cashlinks, a new way to transfer money
With Nimiq cashlinks, sending money to your friends and family is as easy as sharing a YouTube video or a news story. All you need to do is send that person a link that will allow them to collect the money you sent. The link, just like any other web link, can be sent via any social app, including Telegram, WhatsApp, email, and Facebook, for example.
Currently, users can only generate cashlinks through promo.nimiq.com to participate in an ongoing promotion. On the page all they’ll have to do is select the amount they want to transfer, click “send cashlink”, and send it to friends, family, or anybody. That’s it; no account numbers, no sign-ups, no addresses. Going forward, cashlinks will be integrated in more apps in Nimiq’s ecosystem.
Nimiq is designed for mass adoption. Transactions are extremely fast and nearly free. The funds are then stored on the platform’s built-in browser wallet, meaning the only software the other person needs is the browser used to open the link.
If for some reason the receiver doesn’t want the money, the user can retrieve it by using the link herself. This is just one of the many possible applications the Nimiq browser-based blockchain and ecosystem may offer, as its best applications may still be unimaginable.
Cashlinks are a perfect way to introduce someone who’s never even heard of cryptocurrencies to the ecosystem, as clicking your first cashlink will also automatically guide you through setting up your account. Setting up a wallet is as easy as opening a link. Later on, the user can backup their generated private key.
Send Cashlinks – Win a Limited-Edition Ledger Nano S
In a bid to onboard more users into the cryptocurrency ecosystem, Nimiq is currently running a promotion linked to its cashlinks. Users who send cashlinks will have a chance of winning a limited-edition Nimiq-branded Ledger Nano S hardware wallet.
Hardware wallets are a must if you own cryptocurrencies, as they’re safer than hot wallets used on your mobile device or desktop. To participate in the promotion, all you have to do is head over to promo.nimiq.com, sign up, create a cashlink using your NIM, and send your friends or family money. If you don’t have any NIM yet, you can get some from a faucet or buy on HitBTC, Tradesatoshi, and others.
To be eligible, the cashlink’s recipient must successfully redeem the NIM. Once the recipient is signed up, the sender receives tickets according to the following structure:
1 ticket for 0.1–9.x NIM
2 tickets for 10–99.x NIM
3 tickets for 100–999.x NIM
4 tickets for 1’000–4’999.x NIM
5 tickets for 5’000–10’000 NIM
Each participant can get a maximum of 125 tickets, and can win a maximum of one Ledger. The promotion will involve giving away up to 50 Ledgers, one for every 100 newly registered crypto users. To keep up with the project, follow Nimiq on Twitter, Discord, and Telegram.
(As submitted to IndiStart.com. If you like your StartUp to be published, please write to us IndiStart.firstname.lastname@example.org)