iPay You, a Seattle, Wash.-based bitcoin wallet created by Gene Kavner, a former director of Amazon Associates and a Microsoft veteran, allows users to send bitcoin to people who don’t already have a bitcoin account, using text or email.
It also makes it possible to buy bitcoin using a U.S. bank account – the web app supports 16 major banks. How It Works
To make a payment, the user fills in the recipient’s email or bitcoin address on a simple screen on the app. They also write the recipient’s name. Next, they click “continue” and confirm the transaction. It takes three to four business days for bitcoin to be deposited into an iPay You wallet.
It is possible to set the app on automatic withdraw so that funds sent to the app automatically deposit the funds in a bank account. It takes two to three business days for the funds to deposit in a bank account. The wallet shows the expected transaction completion date.
To transfer bitcoin into an iPay You wallet, the user clicks the “add funds” button, then clicks “receive bitcoin,” then scans a QR code or enters the bitcoin address, then enters the amount they wish to receive. Special Features
A transaction can be canceled if it has not been confirmed and the recipient has not logged into the system. The user has to click on the “cancel transaction” button in the transaction history.
iPay You charges customers a “small” fee for transactions, according to its website .
A future feature will enable users to lock in the price of a transaction.The service is for U.S. customers only. Users must have a Social Security number. Also read: Multi-currency wallet BIT.AC allows instant cryptocurrency exchanges App Makes Bitcoin Easy Kavner compared bitcoin to the Internet in its early stages. People would […]
