Nexo launches email and phone transfer feature for crypto

Nexo app has introduced a feature that allows users to send USDT, BTC, and other cryptocurrencies to friends and contacts via email or phone number.

This innovation marks a significant step forward in simplifying crypto transactions and expanding accessibility within the digital asset space.

Why use email or phone for crypto transfers?

By leveraging email or phone numbers, recipients can claim the transferred funds effortlessly, eliminating the need for crypto addresses.

Moreover, recipients gain access to the full suite of Nexo products and services, including interest-earning opportunities and borrowing capabilities, without the hassle of switching between wallets or accounts.

As an illustrative example, sending Bitcoin (BTC) via the Nexo app offers numerous benefits for both senders and recipients.

Not only are BTC transfers fast and fee-free, but recipients can also take advantage of competitive interest rates of up to 7% per year on their holdings.

Users can borrow funds against their BTC assets at rates as low as 0% per year, further enhancing the utility and versatility of their crypto holdings.

How does it work?

Recipients are required to create a Nexo account using the same email or phone number provided by the sender to claim the transferred funds.

Upon account creation, recipients have 14 days to claim or reject the funds before they are returned to the sender’s Savings Wallet.

However, it’s important to note that account creation is unavailable in certain jurisdictions and for residents of the United Kingdom and the United Arab Emirates.

Elitsa Taskova, Chief Product Officer, Nexo, says,

With the introduction of email and phone transfers, we aim to empower our community to effortlessly share the benefits of crypto with their loved ones. In a world where technology often serves to divide, we envision a future where it serves to unite – where each exchange serves as a conduit to deeper relationships and collective prosperity.

The post Nexo launches email and phone transfer feature for crypto appeared first on Invezz