Sending Money

Fintap provides a variety of options to send and receive assets in crypto and fiat to users of Exscudo products and services as well as users of other services. Transactions can be performed in the framework of their native transports (e.g. a blockchain), or with colored coins on top of EON blockchain.

This article explains how to perform outgoing transactions in Fintap. You can send assets within Fintap or to an external wallet:

  1. To send money within Fintap, use the EON ID of the user you want to send money to — funds will be transferred to the according recipient’s wallet.
  2. Sending money to an external wallet: enter the address of the wallet you want to send funds to.

Asset or currency transactions, apart from EON tokens, are performed with the colored coins (for example, e-BTC as opposed to the original BTC that are stored in the cold storage). This applies to the transactions both inside and outside the EON network. The transfer of assets and currencies to the outside wallet releases the original currency from the cold storage, and burns the corresponding amount of colored coins.

Note that you don’t have to pick a transport when you send assets to Fintap users — all internal transactions are processed via EON Blockchain automatically.

Sending assets to Fintap users

  1. Press Send at the main screen of the app.

  2. Select Fintap user.

  3. Choose a currency you want to send.

  4. Type in the amount of money to be transferred and press Continue.

  5. Enter the recipient’s EON ID. If you have a QR-code with the recipient's EON ID, you can scan it - press the QR-code pictogram to the right of the Wallet's number field. Then, press Continue and enter your PIN code.

  6. The summary of the transaction (amount, currency type, fee, estimated time for money to be received) will appear. Press Send to proceed; press the cross at the top-left of the screen to return to the previous step to correct the information or cancel the transaction.

Sending money to external wallets

The process is similar to sending assets to Fintap users.

  1. Press Send at the main screen of the app.

  2. Select External system.

  3. Choose a currency.

  4. Enter the amount you want to send.

  5. Choose a transport. This will define the transaction time and fees. You will see an approximate amount of funds that the recipient will receive to the right of the transport name.

  6. Now you need to enter the recipient’s wallet address. You can scan a QR-code with the wallet's number. Then, press Continue and enter your PIN code.

  7. Review the transaction details at the confirmation page and press Send if everything looks good. Press the cross at the top-left of the screen to cancel the operation.

Please note that it takes some time for your money to reach the destination. You can see the estimated time when you choose the transport and at the confirmation page, but the real time is heavily dependent on the chosen transport and its working capacity.