Launching beans: Free cross-currency payments app is now in Public Beta!

With Bitcoin almost being 14 years old, it’s time that the world sees true mass adoption of crypto payments. To realize this, we need free and fast payments, that are interoperable with traditional financial systems. We created Beans app to bridge these 2 worlds; to show the world the power of blockchain combined with the traditional interface everybody is used to. We even want your parents to be able to use Beans!

Most people want to be paid in fiat currencies, which is hard to do on most blockchains. By using the power and speed of blockchain together with the cross-currency technology of Beans we solve this issue. You are able to send money to anyone anywhere in the world, and we make sure they receive it in their currency of choice!

What is Beans?

Beans is an app that gives anyone, anywhere in the world, free payments and a healthy-yield savings option — all through a simple, straightforward interface. What makes Beans special? Here are some of the best features!

Cross-border and cross-currency!🌎

What makes using Beans so special? Beans enables you to pay anyone anywhere in the world! We make sure everyone receives their currency of choice, within seconds, without any additional fees, with the most optimal exchange rate, and without transaction costs! You can pay your buddy overseas without worrying about delays or extreme fees! For example, John can send 10 Euros to Alica, who receives 1,720 Argentine pesos (ARS) instantly, with no fees or markups added.

Conversions on Beans happen on the Stellar blockchain. This means that conversions don’t go through a third party, but are truly peer-to-peer. As a user, you don’t notice this complexity, other than great rates and zero fees on transactions.

The strength of cross-currency payments has yet to be realized. Beans already supports USD, EUR, ARS, PEN, SOL, and BRL currencies, but with the cross-currency technology Beans is using, any currency can be swapped for any currency! In the future, you will be able to send and receive any currency you like, even if that is BTC, USD, or Apple stocks. You send whatever you prefer, while they receive whatever they prefer. No fees, markups, or worries!

Read more about how to send your first Beans transactions in our step-by-step guide! medium.com/p/how-to-send-money-internationally-with-no-fees

Escape inflation with high yields!📈

Open a savings account in any currency of your choice. For example, suppose you’re living in Argentina. In that case, you can deposit funds, make payments, and receive payments in Argentine Pesos, while converting the rest to U.S. Dollars and depositing them into your Beans savings account to earn a 7% yield. These rates are certainly a lot higher than the banks are offering!

Read more about escaping inflation with Beans here: medium.com/p/how-beans-can-help-you-escape-inflation

Cheap, safe, and non-custodial!🔒

The Beans app is built on the Stellar blockchain, which ensures lightning-fast transaction speeds, no transaction fees, and the security that the Stellar blockchain offers. We are not a bank and don't hold custody over your funds. You won’t have to be scared that anyone other than you has access to your money!

Why we chose the Stellar blockchain is explained here! medium.com/how-stellar-solves-the-blockchain-finality-challenge

Usability and user-friendly account recovery!📱

Beans is built to be used by everyone. All the difficult blockchain gibberish is taken care of, which means that you are left with a super easy-to-use app. You don’t have to worry about private key seed phrases or other difficult and error-prone blockchain technicalities. Lost your phone? Easily log in again with your email and pin code!

Want to know how account recovery works? Read about it in our latest blog! medium.com/account-recovery-a-game-changer-in-crypto-adoption

We are officially in open beta!

We are super excited to share that we are now publicly available in the Android and iOS app stores! There is no private beta list anymore, and no invite code is needed! We’ve been working hard on the app to get it store-ready, and with our account recovery now implemented, we are ready to make the

Beans app

available to everyone!

So, what’s next?

We will continue to improve our app, adding more features and improving the way you are able to use the app. We are always looking for ways to enhance the way you experience our app and the interactions with the blockchain, and we want to enable everyone to experience the benefits the blockchain has to offer. This mission is far from being reached, and we will not stop until we get there!