SendIT makes cryptocurrency transactions seamless by allowing users to send cryptocurrency via Email or Social Handles. The receiver does not need to download a wallet, know how to manage keys or know about cryptocurrency.
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Maker
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Hello,
I am Aravindh, Founder of Arcana.
If you want to onboard someone to crypto, the best thing to do is perhaps send them some.
However, this involves long and complex explanations around wallets, seed phrases, chains…
We decided to solve this and launched SendIT. SendIT allows you to send crypto to an email address or Twitter handle.
The recipient just needs to click a link you share with them, verify their email or Twitter and see a securely generated wallet holding the crypto you sent them.
No need to install any wallet, manage seed phrases, nothing!
Since we launched our Beta, over 400k people have tried SendIT to send crypto over 1M times! We’d love for you to try it too and let us know if you like/dislike it.
P.S. We'll be online all day to answer all the questions and help with tech support. I am looking forward to your feedback.
SendIT is built on top of our Decentralized, Non-Custodial, and Open-Source Web3 Authentication SDK, Arcana Auth.
Cheers Everyone!
Aravindh,
Founder, Arcana Network
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Hey, congrats on the launch! So the private keys are generated for the users and are the users the sole custodians of private keys?
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@andriyuh yes they are yours to keep, and you could also import your wallet into other non custodial wallets like metamask,
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Maker
@andriyuh Hey Andrija! That's a great question.
The login is powered by Arcana Auth, which creates a non-custodial wallet for the users. The keys themselves are generated and stored in parts on a decentralized network of nodes that can only be retrieved by the user. Neither Arcana nor the node operators have access to the full private key at any point.
Happy to dive into more technical details and share resources if you are interested. :)
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Undoubtedly, that is the easiest way to invite new users to the crypto ecosystem, with fewer hurdles of signup, verification, and all associated with the Cex. This will go a long way to foster massive adoption across the globe. Nice one, SendIt.
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Maker
@fredquantum You are right Fred, anyone new to crypto faces a lot of hurdles that pushes them away, and sendIT is a seamless way to solve that.
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Maker
@fredquantum Thank you. Surely, that's the aim - to foster massive adoption.
I tried this and this is what I understood. Basically, sendit creates a wallet on behalf of the receiver. then the receiver has two options: send it to another email or Twitter handle. or transfer it to another wallet address.
now my question is when would such a situation happen? I only see this as a way to tip someone, so integrating with Twitch, YouTube, Instagram or Onlyfans would make more sense. but even then you need a better off-ramp feature.
So if we consider this as a tipping platform, there are still things missing, like I said an off-ramp feature, or at least a swap feature that would let them swap some of the ERC-20 tokens to the native gas token.
I mean we are assuming the receivers are less web3-oriented, but we expect them to know what to do with the USDT they received on the polygon chain without having any matic token to send it. I also believe email and Twitter are more prone to a hack so the key to accessing funds is now less safe than creating a hot wallet.
(I know there could be many situations in people asking for this kind of payment, for example, a freelance job but then either they have to send it to someone else's email and ask them to pay them the money in the form they want or they have to be able to send the money to a wallet that they know how to swap the fund to their desired currency in the latter case the guy already knows enough to have a hot wallet of his own)
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Maker
Hey @savvyblunt firstly, thanks for trying it out and taking the time to write up such a thoughtful take.
Your observation is bang on that all one can do once they receive some crypto is send it to another person via email, twitter handle or to another address.
We aimed to put the Sender front and centre as we felt getting it would see more adoption amongst our more crypto native community. In terms of use cases, this flow enables things like you rightly point out, tipping (receiver is the sender now) but also just payments like in a cash app. People can resort to making payments to people who are happy to collect crypto as a payment whether its for a service or friends splitting a bill... This latter use case needs more refinement for sure but it is possible (as you allude to as well).
Additionally, something we are looking to implement soon that will address what a receiver does with this crypto they've received, outside of simply sending it to someone is things like putting it to use into various crypto/Web3 apps. Things like getting the receiver to use the crypto they receive to perhaps buy an NFT, an ENS or Lens domain, perform swaps, staking or lending, off-ramp to fiat or even learn and do full self custody. All this by integrating with protocols or with partner apps.
Again, really appreciate your thoughts and feedback. Would love to hear what you make of our future plans.
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I see hundreds of projects launch everyday, and all of them are just repeating the same things that already exist in the crypto space. But This projects is super cool and innovative, a lot of problem was solved here. Hoping to see it succeed and grow
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