Cryptocurrency is so much more than just a speculative asset. It’s a new opportunity for anyone to control their own finances and send money freely, whenever they want, with low fees.
Bitcoin, the original cryptocurrency, was created to act as a peer-to-peer digital cash. A means to transfer value from one person to another without involving any third parties like banks or payment processors. This is important for a number of reasons, such as reducing transaction costs and giving users true control over their money. On top of that, without middlemen you are your own custodian. You choose how secure your funds are.
Using crypto you can send money across the world for almost nothing in seconds. Compared to traditional alternatives like Western Union, the differences are staggering.
The problem is cryptocurrency has been notoriously complicated for new users. Needing to use different exchanges and having to navigate around confusing wallet addresses – it’s all too much for the average person.
That’s where Zumo comes in. They are trying to make cryptocurrency easier to use and more accessible to everyone.
Zumo – Smart money for everyone
Zumo is a new mobile cryptocurrency wallet that makes buying, sending, exchanging and storing cryptocurrency safe and easy – and to make it work seamlessly with traditional money, starting with GBP.
According to Zumo, 77% of millennials think we need a new financial system, because the current system is designed to favor the rich and powerful. This is why they set out to break down barriers and create a simple way for anyone to have control over their money.
It’s totally free to download. In fact, right now if you download Zumo they’ll pay you 0.02 ETH as a bonus. Jump on that while you can!
After downloading the app you can use their simple interface to store your bitcoin and ethereum, and soon (July), you’ll be able to buy bitcoin and ethereum with one click.
Control your money
Zumo is a decentralized wallet. That means that you control your private keys, which is vital in cryptocurrency. If you control your private keys, that means the app has no access to your funds.
No one can move your crypto apart from you and if you ever need to you can restore your wallet using another provider and still access your crypto.
Zumo has made sending crypto a breeze. There are no complicated wallet addresses. When you create your wallet you give yourself an Alias, which is then used to send money instead of your address.
For example, you could send money to ‘Alex’ or ‘John’ – much easier than a confusing crypto address. You can even add contacts to make repeat payments to friends and family easier.
Of course, it’s still possible to send and receive crypto from people outside the Zumo ecosystem if they haven’t caught on yet.
Exchange in the app
Zumo has trading pairs built in, so you can quickly switch between the supported currencies without having to leave the app.
GBP support incoming
Zumo has reported that they are soon going to be adding the facilities to allow GBP users to hold GBP in their Zumo wallet. This would then enable users to send and receive GBP payments in the app, as well as buy and sell cryptocurrency directly from fiat without needing an exchange. Zumo has just announced their partnership with Modulr, a digital payments platform. From mid July Zumo will leverage Modulr to provide their UK users with GBP services in their app.
Zumo strongly believes that cryptocurrency will become mainstream by crypto companies working with regulators. Hence why Zumo is working closely with regulators in the UK to become a regulated business. This is also why GBP will be the first fiat currency added to the app.
What else is coming?
This is only the beginning for Zumo. Here are some upcoming features:
- Stablecoin integration
- Integrating open banking to make crypto easier to buy and sell
- Faster and cheaper exchanges
- Easier wallet recovery
Zumo is a decentralized, secure mobile wallet that makes buying, storing, sending, receiving and exchanging crypto simple. You can download it for free now and set up your own Alias to get started!
The Daily Chain
*This article has been sponsored. The Daily Chain encourages you to carry out your own research before you make any form of investment and educate yourself about how to stay safe in the crypto space.