432
views

Spot – The New Trending Crypto Wallet of 2020

The Crypto space is fast moving towards increased adoption, and developers are looking to create simple, user-friendly products that can be integrated into our normal daily lives. One such product that has recently gained increased usability is Spot – an iOS & Android-based cryptocurrency wallet.

This review will dive deeper into Spot, looking at some of its incredible features, development team, and differences with other exchanges and wallets.

Spot in a Nutshell

Spot is a mobile app that allows users to easily & securely buy Bitcoin. Spot is indeed a revolutionary wallet focused on security, ease of use, and user-friendliness. This user-friendly wallet lets you buy Bitcoin instantly by debit & credit card worldwide, follow the market & news. Since launching in April 2018 as a beta version, Spot continues to offer cryptocurrency holders an exciting app interface with powerful features yet easy to use!

Spot Top Features

  • Buy Bitcoins instantly: Spot allows users to buy Bitcoin incredibly fast, in a snap. The interface is also super easy to use and fast. No account or signup is needed. Users can easily purchase Bitcoin using debit or credit card, Apple Pay, or Google Pay.
  • Earn Bitcoins by inviting friends to Spot: For each invited friend, get $1 of Bitcoin after their first purchase & earn 50% commission every time your friend makes a purchase.
  • Easily Transfer your Bitcoins, anywhere, anytime: With Spot, you can seamlessly & instantly send your Bitcoins to any part of the world directly via SMS, WhatsApp, Messenger, Snap…
  • Bitcoin Gift cards: Spot allows users to buy and send Bitcoin gift cards for their loved ones. You can send or print beautiful Bitcoin gift cards using the app.
  • Enjoy 24/7 Support: Whether you are stuck, have a question, or need help, Spot has a dedicated support team reachable directly by chat in the app 24 hours a day.
  • Alerts & Watchlist: This feature enables users to follow the prices of more than 3000 cryptocurrencies and receive smart alerts when there are significant price moves.
  • Users are provided full control over their funds: Unlike other online wallets, notably Coinbase and Binance, which exercise some control over your funds, Spot has absolutely no control over your digital assets. The wallet is fully decentralized and leverages top-notch technology to ensure the safety of the coins.

Sending and Receiving Bitcoins in Your Spot Wallet

You can easily receive Bitcoins from anywhere globally using your Bitcoin receive address on the Spot wallet. To receive Bitcoins on your Spot wallet, proceed as below:

  • Send a payment request:
  1. In the Send tab, enter an amount in Bitcoin (BTC) or fiat (USD, EUR…)
  2. Tap on the Request button and share your payment request as you like (SMS, WhatsApp…)
  • Display your Bitcoin receive address:

In the Send tab, tap on the top-left corner (an arrow going down).

Using your Receive Address

Spot allows you to share your receive address with others by copying your Bitcoin receive address and then sharing it. Note that no one will be able to access your Bitcoins with your receive address. Also, your Bitcoin address will change every time you receive funds to enhance your privacy and security of your coins.

Sending Bitcoins Using Spot

Spot allows you to send Bitcoin to any person or service that is compatible and accepts Bitcoin, i.e., An exchange, a Bitcoin wallet, or a merchant. You can proceed as follows:

  • First, ensure you have Bitcoin in your wallet. If not, buy Bitcoins instantly using either a credit or debit card, Apple pay (Google Pay is coming soon!).
  • Go to the Send tab and enter the amount you want to send in dollars, for example, or Bitcoin (BTC) (tap on the two arrows icon in the top-right corner if you want to change the currency).
  • Tap on the Send button. You will then have two options:

1) Send anywhere: you can send Bitcoins to anyone! You don’t have to worry about the fact that the recipient already has a bitcoin wallet or not. You can send your Bitcoin payment directly via SMS, WhatsApp, Messenger…

2) Send to a Bitcoin address: if you already know the bitcoin receiving address of the recipient, you can directly choose this option.

  • Finally, confirm the transaction by double-checking the amount and destination address before sending it. This step is crucial as Spot cannot recover any lost funds. Also, note that the fees from the Bitcoin networks are compulsory fees imposed by the Bitcoin network to process the transactions and are not taken by Spot.

What is the Difference Between Spot and other Exchanges such as Coinbase, Kraken, or Binance?

Unlike Coinbase, Binance, or Kraken, Spot is fully decentralized, meaning that:

  • You have full control over your funds.
  • Your funds’ safety is enhanced since they cannot be blocked or seized like in most exchanges.
  • Your funds are still safe even if Spot gets hacked.
  • You can still access your funds even in the event of a server outage. This is not possible with other exchanges.

The Bottom Line

The development stages of the bitcoin network have been ongoing for quite a long time now. Some crypto experts are even growing wary of whether the network would be user-friendly as they intend it to be. Luckily, Spot developers couldn’t wait any longer! As evinced above, the wallet leverages top technology to offer ease of use and security to users. Currently, it’s one of the best BTC wallet offering powerful yet easy to use features.

Bitcoin live price
Btc
Bitcoin
$29.136
price
0.88095%
price change
BUY NOW

Spot envision to be the product that would bring crypto adoption closer to the global scale. Ideally, it is designed for beginners thanks to its stunning user interface coupled with innovative features that allow users to buy and send Bitcoin instantly. It’s better than other exchanges, notably Coinbase and Square Cash, attributed to its powerful features. Needless to say, the platform is looking at a bright future. They have already started working on including Ethereum & ERC-20 stablecoins!

Stay up to date with our latest articles

More posts

Volt Inu (VOLT) – Providing Passive Rewards for an Entire Army of Users

Volt Inu (VOLT) is a hyper-deflationary token seeking to help users diversify their investments across several asset types. Its goal is to build a loyal community, the VOLTARMY, whose members will have access to a growing ecosystem of assets and products, including NFTs, reflections, merchandise, and a P2E game. The meme-coin trend produced several projects with varying degrees of success and popularity in recent years. For instance, some coins like Shiba Inu made it into the top-10 cryptos by market…

HyperEarn – Encouraging an Active Lifestyle through Blockchain Technology

You'll be able to enter the latest trendy movement, "Move2Earn," using the HyperEarn token. There are many ways to get money with HyperEarn. You may run or sleep or even watch advertising to collect rewards.  With this quick introduction on our minds, let's get right into the core of today's review. We will treat HyperEarn neutrally in the article, and we urge you to do your own research before investing. A Closer Look into HyperEarn’s Ecosystem The HyperEarn platform relies…

Viubank: Earn Interest with Highest Crypto APY Through Fixed Deposit Receipt

An innovative new financial service called Viubank offers customers a way to earn interest on their long-term savings accounts. The concept depends on the cooperation with ELG bank, which brings together traditional and crypto-based financial expertise. About ViuBank Viubank is an innovative banking initiative promising simple access to fixed deposits that pay set interest rates. Depending on your preference, you can get daily, weekly, or monthly benefits. Thanks to its Vanuatu banking license, every depositor can open an account on…

RodeoCoin – Supporting the Western Lifestyle through Crypto

RodeoCoin is a hyper-deflationary token running on Binance Smart Chain seeking to reward its active users with BUSD reflection rewards. The project’s ultimate goal is to build a Community Wallet supporting the western lifestyle and community-oriented initiatives, including promoting talents in art, sports, and music. This short RodeoCoin review looks closely at one of the most recent projects to surface in the market. Read on to discover its features, tokenomics, and roadmap! What is RodeoCoin? RodeoCoin evolved from a group…

Shazu – Channeling the Ninja Abilities within NFT Collectors and Crypto Enthusiasts

Shazu is a community-driven project featuring a deflationary token, SHAZU, and a collection of unique Ninja NFTs. Its goal is to help users increase their financial freedom through reflection rewards, staking opportunities, and digital collectibles. This short Shazu review looks closely at one of the latest projects to surface in the cryptosphere. What is Shazu? Shazu is a project seeking to grow through its community while rewarding its members at the same time. It features a deflationary token on the…

WinWinCoins Will Make Crypto Trading More Accessible for Everyone

WinWinCoins is an innovative blockchain project providing a next-gen AI robot trading solution to help investors increase their profits. Its goal is to build an advanced, democratic platform easily accessible to everyone. This way, even newbie traders with little market knowledge can have a positive experience in cryptocurrencies. The WinWinCoins team believes it can accelerate crypto adoption by providing legitimate trading tools available to everyone. To this end, its trading bot could help eliminate losses and increase access to profitable…

SafeSwap Deploys on the Polygon Network to Allow the Farming and Staking of SSGTX

SafeSwap, a decentralized crypto exchange platform, has recently deployed on Polygon, previously known as the Matic Network, a scaling solution for public blockchain networks.   The integration of the Polygon chain by SafeSwap aims to revolutionize the DeFi industry by allowing the farming and staking of SafeSwap's token, SSGTX. The partnership enables users to exchange information without losing ownership or control in the staking and trading industry.  The main objective of SafeSwap is to empower traders and liquidity providers with an easy-to-access financial…

API Inu – A Blockchain Service Suite Joining the Meme Coin Hype

The meme coin hype is leading to the creation of more creative projects revolving around this type of cryptocurrency. In this context, API Inu is one of the latest examples, with a combination of blockchain data services and a meme token. Using TradingView's professional charting libraries, the project wants to provide simple indicators for beginner traders. Furthermore, the team wants its community to enjoy access to essential data like liquidity, trading volume, risk exposure, and fear vs. greed indicators.  API…

Ragdoll Cat NFT – A New Decentralized Project to Help Cats in Need

As the blockchain market grows, we learn more and more about how this technology can influence our daily lives. Ragdoll Cat NFT is a new project that puts together the interest for crypto, decentralized communities, and cats. In the following sections, we wish to report, in a neutral way, all the main features of this new initiative. After describing the ecosystem designed by the team, we’ll include some of the future developments that we should expect from the project. About…

Tiny Colony Review – The First-Ever Expansive Pixelated Tinyverse

Tiny Colony is a pixelated ecosystem of games, events, and experiences built on Solana that allows users to play without requiring NFTs. It features the first-ever construction and management blockchain game and benefits from the backing of iLogos, the prominent developers of Angry Birds 2, and regular partners of Disney, Ubisoft, EA, Rovio, and DreamWorks. The project is currently in full swing after striking partnerships with Fractal Marketplace, Twitch creator Justin Kan, and popular YouTuber iJustine. Furthermore, the game raised…