The Canyudo app makes transferring cryptocurrency simple. Payments can be initiated wherever you have wifi access, and the recipient typically receives funds within 20 minutes of your instruction being submitted. App users simply create a payments task and add the amount they wish to send, then assign it to the person they wish to pay. Once both users have confirmed they wish to proceed (via a wallet passphrase security check similar to how internet banking works currently), the payment is sent directly from User A to User B.
The act of sending money automatically creates a transaction record which is updated to our distributed ledger. This provides the sender with iron-clad proof that the payment has been made, and both parties with absolute assurance that the funds were received.
The costs of sending money internationally using traditional banking services can be prohibitive, especially where the amount being sent is relatively small. If the payment involves a currency exchange the total cost is often 7% or more of the amount being transferred, plus processing fees. We provide a payment service at one low rate of 1.5% of the transaction amount, with a minimum fee of $2 and a maximum of $100.
Blockchain technology allows us to send money in a low cost and efficient manner, giving us the ability to process transactions with virtually no risk to the payment sender. Currency sent in this way cannot be intercepted or stolen, and the transaction data generated cannot be hacked, changed or otherwise tampered with, making this the fastest and most secure method of sending money around the world.
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