Aave launches Aave Pay, a payment service which allows users to send or spend Cryptos. And these would be converted and then transferred in the form of fiat currency to the recipient’s bank account. So by using Aave Pay users can send cryptocurrency as money to family, friends, customers, their own bank accounts and pay everyday bills.
Cryptos Closer To Mainstream
Thanks to Aave, cryptocurrencies are more closer to mainstream adoption with Aave Pay.So the app enables the use of cryptocurrencies for all expenses of a person.
Further, It enables Business platforms for the payment of income taxes,Salary payments, commercial or corporate expenses, directly into fiat-based accounts.
Most importantly,Aave Pay is accepted where ever regular bank transfers are accepted. Meanwhile Aave Pay is available as an application and on the web.
It’s simple ,direct and user friendly.
“This new application eliminates the obstacles of using crypto in our everyday lives,” Stani Kulechov ( Aave CEO )
Further, Stani Kulechov also remarked that Aave solves the spendablity problem associated with cryptocurrencies and it builds a bridge for crypto for crypto to crossover into mainstream.
Aave Pay Accepts 12 Cryptos
The platform currently supports 12 cryptocurrencies: bitcoin core (BTC), bitcoin cash (BCH), ethereum (ETH), cardano (ADA), ripple (XRP), monero (XMR), litecoin (LTC), zcash (ZEC), stellar lumen (XLM), dash, dai, and lend.
Meanwhile, the payments can be made in 6 fiat currencies Euro, U.S. dollar, British pound, Swiss franc, Australian dollar, and Indian rupee are the currently available options.
🤩 A new exciting product by @AaveAave is out now‼️— Aave (@AaveAave) February 27, 2019
Use your crypto to pay bills and everyday expenses in just few clicks! ⬇️
Pay with $ETH, $BTC, $ZEC (@zcashco) $DAI (@MakerDAO) $ADA (@Cardano_ ), $XRP (@Ripple), $XMR (@monero) and others.
Try it now: https://t.co/S8nVGx9cTi pic.twitter.com/gQAPPMQ48C
How To Aave Pay!?
So to begin.Start by selecting the cryptocurrency among the choices and the amount of fiat currency they want to transfer. After which the recipient’s International Bank Account details are to be entered.So once these data are provided then Aave Pay calculates a competitive exchange rate, alerts the user of the final cost, then sends the payment to the recipient’s account.
“We are taking the concept of holding cryptocurrencies further,in a way that has not been done before, breaking the paradigm that cryptocurrencies are only assets people invest in and cannot be used as traditional currencies.” Jordan L Gustave(COO Aave)