If you haven’t heard of it, NanoMate is a service that enables you to send NANO to anyone via any imaginable messaging platform: from email to Whatsapp.
How it works:
You send Nano to the generated address, then give your friend the secret redeem link. The redeem page guides them through the process of setting up a wallet and getting an address. If you add their email address, NanoMate will send them an email telling them they’ve got Nano, explaining what it is, and how they can claim it.
All of this is possible for a fee of $0.01 per transaction. This is calculated using the latest market rate and deducted from your transaction before NANO is sent to your friend. This fee could be changed in the future.
Awesome stuff for overall crypto adoption – well done Nano community, as this is a product by one of the members of Nano subreddit!
How to use it, detailed explanation:
The procedure is:
- You enter your details and an address is created and specifically assigned to your entry.
- If the address receives funds, NM sends notifications to both the sender and receiver, with separate unlock codes.
- The fee is taken out when the address receives funds. The sender’s email notification provides information on the fee amount, the receiver’s doesn’t.
- The notifications pre-fill the email and unlock code in the redeem form, you just enter an address you’d like to receive the funds to.
- When you submit the redeem form, NM hashes the unlock code, using the email as salt, and compare it to the hashes in the database to find the appropriate transaction and address.
- NanoMate then sends the full balance of the account to the receiver’s address.
An interesting side-effect of this new feature is that the recipient can now be undefined. This might be useful for broadcasting a redeem link to a group where you’re happy for the fastest user to get the prize – possibilities are endless.
This tool is very impressive to helping new people on board into crypto.
One thing to point out:
To use this service, you will have to trust them – it’s not like they are an exchange that holds on to significant amounts of people’s money. Any money NanoMate is holding is only ever in transit, and you can reclaim it if it looks like the recipient isn’t interested in claiming. The risk to an individual user is a lot lower, but the trust proposition is essentially the same – trust them not to run away with your money.
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