Introduction

So the basics of digital money and digital wallets have been covered. But, how does it work exactly? What button to press or what button to click? How can the user be able to navigate through the Sorted Wallet? 

What is Digital Money?

Digital money is money that exists, is stored and is transferred in electronic form. Unlike cash banknotes and coins, digital money is used and accessed through electronic devices and computer systems. Think of it as that card that is on the banking app, used to pay for goods and services, or even times when you want to transfer money from one account to another. Digital money can be used in many activities such as sending money to family and friends, receiving salaries, paying bills online, making online purchases through websites and other banking apps, etc.

How Does Sorted Wallet Work with Digital Money? 

• Sending and receiving money

When a user sends money, it moves. Swiftly, quickly and without anyone or anything getting in the way. 

There are two ways a user can use to send money on Sorted Wallet:

Send by phone number: If a user has the person’s phone number, then money can be sent to that person. A user can be able to send money by their phone number with no account numbers, no swift codes and no bank details.

Request with a link: The user must generate a payment link and share it via Whatsapp, SMS or email. A QR code will be created and the user can be able to share the link to pay anyone from all over the world. 

To receive money:

1. Tap Receive on the Home Screen
2. Choose the asset that you want to receive and the network it will be sent on
3. Share the QR Code, or tap Copy to copy the wallet address so that you can give it to whoever is sending the funds
4. When the transfer is complete and confirmed on the network, the balance updates automatically.

• Cashing out

A user can be able to turn dollars into local money through the providers that you already trust. While the user is on their phone. To cash out the money, a user may be able to use the providers that they already use, depending on the country that they live in. In some countries, M-Pesa, Vodafone and the local bank are acceptable providers to use, while more are yet to come. There will be a 1% fee when a user cashes out to local money, and that is the only cost. There are no hidden charges, no agent markup and no rate manipulation. 

• Paying to the merchant – for businesses getting paid

This feature is for market vendors, tourism operators and merchants. Sorted Wallet has created Paylink, where a user can be able to do invoices in seconds, be able to share them anywhere, and can let the customers pay with their preferred payment method. With Paylink, a user is able to pay for their groceries on Sorted, vendors can receive USDt instantly, and there is no use for a card machine or any cash handling. For tourism operators, hotels can accept international payments via Paylink instantly, with no bank account or gateway needed. 

Here is how to get paid:

1. Create Paylink – Create an invoice and share the link with customers and get paid easily.
2. Share the invoice to the customer directly via email.
3. Multiple payment options – After receiving the email, the customer can pay with any of the popular wallets or they can use a credit card. 

This article is sponsored by Sorted Wallet. 

Learn more about sorted: https://www.sorted.io/

Download Sorted for a great digital wallet experience: https://l1nk.dev/quoc9iq

Get a discount on your transfers by entering the code – REDY26

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