Like all things technology based, the digital currency industry faces a constant challenge of making the idea and processes of cryptocurrency use and ownership easier for those with no understanding of the technical workings of the systems. While many have focused on ever more elaborate uses of blockchain, digital wallet company iPayYou have sought to address this ease of use issue by offering a simply way to send bitcoins to another person even if they do not have a bitcoin wallet. The latest advance offers Pay-by-Twitter, allowing users to directly send funds to others over twitter for convenient payments.
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Ease of use will always be a critical component if Bitcoin or any digital currency is ever going to fulfill its potential and deliver on the promise of a border-less payment and monetary system for all. After a focus on the technology itself, the industry does seem to be waking up to the need for a digital currency ecosystem that is easy for new users to enter and carry out the kind of every day transactions they want without a significant understanding of the technology involved. In other words, making Bitcoin or any other cryptocurrency easy to understand and use for people outside the industry itself.
One company who has taken up this challenge is full-service bitcoin wallet business iPayYou, which allows people to easily send Bitcoin to others even if they do not have bitcoin wallets themselves. The recently announced a new development in this process, that allows users to send payments through Twitter, and is the first peer-to-peer payment system available over the social media network. Pay-by-Twitter works in the same ways as their existing email service, and allows users to send bitcoin funds to people who do not have an existing bitcoin wallet account.
The system works very efficiently, when a user sends a payment to a recipient, they receive a tweet notifying them that them that they have a payment from iPayYou that includes a link that takes them to the iPayYou website to accept the payment. The funds that have been paid can be kept in an iPayYou wallet that is created during the process, with the recipient going through a quick process to verify twitter credentials and adding in a mobile number for extra security. Once in that wallet the funds can then be sent on to another recipient or wallet or sold for fiat funds that can then be transferred into a bank account.
Unlike most wallet systems, iPayYou brings another unique feature, the ability to cancel transactions before they have been accepted by the recipient. This carries through the Pay-by-Twitter system, and offers a genuine difference for such a wallet.