UK Markets close in 5 hrs 22 mins - The easiest way to get into crypto! (news with additional features)

·3-min read

DGAP-News: NIMIQ / Key word(s): Product Launch/Cryptocurrency / Blockchain
29.10.2021 / 07:49
The issuer is solely responsible for the content of this announcement.

You know the expression "It does what it says on the tin"? Well say hello to

What does it do? You guessed it: Super simple (currency) swaps. And when we say simple, we mean simple. As in, it doesn't get simpler. The team at Nimiq presents to the world the first browser-based currency swap solution where:

    *    You don't need to log in.
    *    You don't need to provide your details.
    *    You don't need to use an exchange.
    *    You don't need to park your money anywhere.
    *    You can swap fiat for crypto and crypto for fiat.
Let me break it down:
One of the things that stops people using crypto more often, and for more things, is that it's perceived as both murky and difficult. Well let's change that. What about transparent and simple? Sounds better, doesn't it? That's exactly what achieves.

Because your money doesn't go anywhere. You just make the payment (or swap). If you have Euros in a bank account and you want to buy some bitcoin, for example, you go to, enter the amount, paste the address of your crypto wallet, click the button, and wire the money as explained. Watch the wheels go around and the exchange is made. Simple as that. Bitcoin to cash? Same process.

That's right. You don't have to use a centralized exchange to swap your cash for crypto anymore. You don't have to trust some company somewhere that you'll get your money back. You don't have to park it anywhere. It's straightforward. It's simple. And safe.
The nitty-gritty:
If you've taken your first tentative steps with crypto then you'll know that to swap fiat (conventional) currency for cryptocurrency, you usually go to your coin exchange of choice, set up an account, provide your details, do an identification process when required, and buy your crypto. Then you move it to your crypto wallet, and either it sits there where you can see it, or you pay with it. But wait a moment. Wasn't the thing about crypto that it's DeFi - i.e. decentralized finance - i.e. peer-to-peer - i.e. you don't have to rely on or trust a third party to move your funds around? But now suddenly you're using an exchange. That's also a third party. And it's still one you have to trust. Because they hold your crypto. changes all that. Your money goes straight to a smart contract, run by a fully licensed German bank triggering a second smart contract that releases crypto directly to your wallet (or vice versa), using two HTLCs to make it secure. The two HTLCs are interlocked and form a so-called atomic swap. What makes an atomic swap special is that it either succeeds and both sides exchange their funds or it fails and both sides of the swap get their funds returned to them.

Which means that, finally, we're talking about true DeFi for conventional currencies like the Euro. No middle man. No messing around. Cash to crypto. Crypto to cash. Straight. Direct. No opaque structure you need to go through.

Go to right now and start swapping!

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29.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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