Nimiq Pay: Connecting Cryptocurrency with Daily Paymentsby@ishanpandey
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Nimiq Pay: Connecting Cryptocurrency with Daily Payments

by Ishan PandeyApril 16th, 2024
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Nimiq Pay is a self-custodial crypto payments app that doesn't require installation. Nimiq's main objective is to make NIM, its native payment coin, the most widely used cryptocurrency for daily transactions globally. The app uses fingerprint scanners and face recognition in order to safeguard the assets of its users.
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Nimiq, the blockchain payments ecosystem, has introduced Nimiq Pay, a revolutionary step towards enabling cryptocurrency to be accessible to everyone. This took place in Dubai during the Token2049 Week this year. This cutting-edge self-custodial crypto payments app is the first step towards Nimiq's goal of becoming the most widely used digital asset for payments globally.

Nimiq sets itself apart in the bitcoin market by emphasizing use and practicality. Nimiq is making cryptocurrency more widely accessible with its blockchain payment platform that doesn't require installation. This is accomplished by Nimiq without sacrificing cypherpunk principles. By means of tactical alliances and an expanding acceptance environment, Nimiq is leading the charge in promoting bitcoin adoption and usage on a worldwide level.

A Gateway to Global Payments

Nimiq Pay connects traditional finance and cryptocurrency by supporting payments across multiple networks and offering an intuitive interface. Being the first cryptocurrency payments app to offer cross-chain atomic swaps to the BTC Lightning Network, Soon, users will be able to use Nimiq's native coin, NIM, to make payments at more than 15,000 establishments worldwide that accept BTC LN payments.

To expand Nimiq Pay's reach even further, Nimiq is forming strategic alliances in addition to integrating with the BTC Lightning Network. cooperation with Bluecode, a European payment network with more than 20,000 sites globally, as well as further unannounced alliances with established

The main objective of Nimiq is to make NIM, its native payment coin, the most widely used cryptocurrency for daily transactions globally. Nimiq, which was founded in 2017, places a strong emphasis on usability while maintaining the decentralized, self-custodial, and censorship-resistant qualities of real cryptocurrencies like Bitcoin. This idea is becoming a reality with Nimiq Pay, which uses the features of mobile devices to provide a smooth cryptocurrency payment experience.

Empowering Businesses with Security and Accessibility

As a means of adhering to stringent security rules and putting a high premium on accessibility and security, Nimiq Pay was released on both the Google Play Store and the Apple App Store. In addition to a seed phrase consisting of twelve words, the application makes use of exclusive smartphone technologies such as fingerprint scanners and face recognition in order to safeguard the assets of its users.

Businesses are able to investigate cryptocurrency payments alongside consumer acceptance thanks to Nimiq Pay's novel incentive points scheme, which is the first of its type. Sponsors are able to initiate cryptocurrency incentive programmes for their users with the assistance of this programme, which in turn encourages involvement and adoption of the cryptocurrency.

In addition to overtaking Bitcoin in terms of acceptance sites, Nimiq Pay has objectives for its future expansion beyond just surpassing Bitcoin. It is the objective to develop a worldwide network of payment acceptance venues and to double the number of websites that take Bitcoin over the next three years.

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Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR.