To understand the value of a decentralized money transfer app, let's look at how a money transfer works comparing a digital remittance using Western Union compared to a peer to peer transaction. It's easy to see why Western Union costs more, requires more middle market partners and has limitations on amounts and timing. With peer-to-peer, its instantly gratifying.
To start, lets setup your wallet and deposit some currency into your app. There is no need for a platform or to enter extra personal information. Note, we don't store your data and you confirm everything you share.
Now that we've setup our account and added money. Let's send someone some money. Using their address, and you can make a transfer almost instantly anywhere in the world.
Sometimes, you will need to convert your currency to another one when sending or receiving money. Use the button below and scan the QR Code to use your AUSD currency to buy a new currency LBD. Now, confirm the request and verify your deposit. It's pretty easy.
With services like Western Union, you can also buy a prepaid account card with local currency. With your wallet, it's even easier to purchase goods in a local or different currency. In this example, we will make a purchase using the foreign currency we purchased.
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