This looks promising. Looking forward to trying it out! I do wish there was more information on the website about how it works, fees etc.
I am admittedly a crypto currency novice, so I'm not real familiar with the lightning network and how it works. I am curious how your product differs from the Bitcoin feature on Square Cash app?
I have had a good experience buying Bitcoin with USD from Square. It's fast, there is no fee (although they pad the price a little bit), and I can then immediately send the coins to the wallet of my choosing.
Seems like your product is very similar. Are there any major differences? What are the reasons to use your app and not keep buying from Square?
The product is very similar to the Square Cash app. The main difference is that when you buy Bitcoin with Sparkswap, the Bitcoin goes instantly (and without paying on-chain fees) into a wallet for which you hold the private keys (rather than a company holding the keys on your behalf). And that Bitcoin is available for spending on the Lightning Network.
The downside is that you have to be comfortable being responsible for the keys, which not everyone is.
Great, thanks for the information! Depositing straight into my own wallet is very appealing.
I'm just starting to get into buying crypto, but for someone like me, I'm ONLY interested in managing my own private keys.
I don't typically buy large amounts of bitcoin at a time, so when I do it is advantageous to reduce the fees as much as possoble.
Excgange fees and/or network transaction fees can take a painful percentage from small transactions, so I will certainly be happy to give Sparkswap a try!
Comments
This looks promising. Looking forward to trying it out! I do wish there was more information on the website about how it works, fees etc.
I am admittedly a crypto currency novice, so I'm not real familiar with the lightning network and how it works. I am curious how your product differs from the Bitcoin feature on Square Cash app?
I have had a good experience buying Bitcoin with USD from Square. It's fast, there is no fee (although they pad the price a little bit), and I can then immediately send the coins to the wallet of my choosing.
Seems like your product is very similar. Are there any major differences? What are the reasons to use your app and not keep buying from Square?
The product is very similar to the Square Cash app. The main difference is that when you buy Bitcoin with Sparkswap, the Bitcoin goes instantly (and without paying on-chain fees) into a wallet for which you hold the private keys (rather than a company holding the keys on your behalf). And that Bitcoin is available for spending on the Lightning Network.
The downside is that you have to be comfortable being responsible for the keys, which not everyone is.
Great, thanks for the information! Depositing straight into my own wallet is very appealing.
I'm just starting to get into buying crypto, but for someone like me, I'm ONLY interested in managing my own private keys.
I don't typically buy large amounts of bitcoin at a time, so when I do it is advantageous to reduce the fees as much as possoble.
Excgange fees and/or network transaction fees can take a painful percentage from small transactions, so I will certainly be happy to give Sparkswap a try!