What good is a decentralized monetary system if the entry and exit are centralized, custodial, and prone to censorship?
If you're reading this article, chances are high that you are a Nimiq supporter and know about OASIS, Fastspot, TEN31 Bank, and most likely you know the Nimiq Wallet as well. There are many entities and technical concepts involved that, together, enable what we consider a true innovation: Swap between crypto and conventional currency in a self-custodial and decentralized way.
But what makes Nimiq special is not only the ability to produce technological innovation. It's the ease of use that turns complicated tech into real-world value for everyday humans. And we're just getting started.
Today, we are introducing a unique product made by Nimiq: a standalone service that aspires to be the easiest, fastest, safest, and most accessible way to buy and sell crypto. And on top of that, it'll be one of the cheapest as well. That's a lot of superlatives but we're absolutely convinced we have the tech and ability to deliver on each one. But before we get into them, let's first talk about the product.
A signup-free web app that puts together Fastspot, TEN31 and Nimiq OASIS to enable the unique concept of a fiat smart contract as a single service: one that provides self-custodial atomic swaps between crypto and conventional currency. No additional wallet needs to be created to use the service: any existing wallet is supported. The service currently supports EUR, BTC, and NIM, with more currencies being added in the future.
By connecting the basic touch points of users with fiat and crypto – the bank account and the crypto wallet – this service removes intermediaries, cuts out the middlemen and avoids the costs and centralization that come with them.
In short, it will be a super simple way to swap fiat and crypto. That's why we call it SuperSimpleSwap.
SuperSimpleSwap, or S3 for short, is itself the combination of multiple complex and interconnected parts into a super-simple user experience. People new to crypto will be able to use it with ease because of its simplicity, while more tech-savvy users will appreciate the high degree of decentralization — and both will enjoy the extra level of security.
Here is all it takes for you to hold your own BTC or NIM. Visit supersimpleswap.com and
Did you notice that no sign-up process was needed to do that? So, in conclusion, crypto can now be bought and sold directly from and to your bank account! No exchange in-between, no centralized service keeping your keys, no identification process up-front.
The costs? A mere 1.5% of the swapped amount!