The French bitcoin savings app lets you send bitcoins to a recipient via SMS or email starting this Wednesday.
In France, the French unicorn Lydia lets you pay a loved one by entering their phone number. This idea has just been taken up by the French crypto company Bitstack. The French bitcoin savings app allows you to send bitcoins to a recipient via SMS or email as of Wednesday, December 20.
If you are a customer of this application, simply enter the amount in bitcoins you wish to transfer to a loved one and their phone number or email. The transfer will be made immediately and free of charge, the company assures.
“Recipients will then receive an SMS or email with a personalized link to create an account in a few clicks and receive their Bitcoins. It’s that simple. And if the funds are not claimed within 7 days, these “This information will be sent back to Note that recipients who already have a Bitstack account will receive their bitcoins immediately,” the company points out.
The recipient does not need to have an account to receive their bitcoins… although this approach is part of the customer acquisition strategy and better knowledge of their own customers. “For added simplicity, the user can first sync their address book, allowing them to select their recipients and send bitcoins with one click,” we read.
Solve certain blockages
With this new service, Bitstack intends to solve certain blockages that people may have when sending bitcoins to a user’s crypto wallet (wrong copying of the recipient’s crypto address that contains several numbers and letters, network fees through the bitcoin blockchain for each transaction…).
Founded in 2021 and with 50,000 customers, Bitstack is registered with the Financial Markets Authority (AMF) as a digital asset service provider (PSAN). Users who want to hold their own bitcoins will have to turn to cold crypto wallets like Ledger or Trezor to store their private keys.