TransCrypt Goes Beta, Offers Mobile Payments Messaging Even With Cryptocurrency

May 31, 2018 By: Steven Anderson

Another day, another mobile payments platform going live; it’s a theme that seems to play out with alarming regularity these days, and one that’s recurring once more with the launch of TransCrypt. TransCrypt has a unique proposition going for it, however, one that it’s desperately going to need to fend off the already-packed market.

Those who use the messaging service Telegram will be happy to note that, thanks to TransCrypt, users can now send and receive payments in the form of cryptocurrency. The beta launch just recently went live, reports note, and users can find it on the Google Play store.

Payments are said to be both fast and secure with the service, effectively as simple as sending a message. Payments can go both ways here, as users can not only send cryptocurrency payments, but also request said payments, making them eligible for receipt. Users will need to create an instant wallet, but once that’s done, users need only share the wallet’s address to send and receive.

Perhaps best of all, there’s no added conversion cost on the bitcoin network, and a conversion system means that exchanges can be calculated and applied automatically.

TransCrypt’s CEO, Nick Machulis, noted “Today, TransCrypt reaches the biggest milestone in the company’s history so far with the launch of its app. We’re set on a vision to provide access to the crypto market to as many people all over the world, and we’re proud in seeing that finally happen. We have exciting plans that will uncover our payments solution to people on various messaging platforms.”

Cryptocurrency is perhaps an even younger field than mobile payments, still striving to find its way into mainstream use. Tools like this may well help such a move take place, but getting the word out about such a tool won’t be easy. Plus, there will likely be plenty of users wondering why, instead of a $10 share of lunch, they would even accept 0.0013458 bitcoin instead. Surely most would rather have the $10.

Still though, for those willing to take tiny fractions of bitcoin or the like for everyday purchases, this may well be the best way to get it. TransCrypt may be taking advantage of a growing movement, or it may be hitching its wagon to a dying star.