Cashaa launches CMC wallet with exchange functionality at BSI 2019

Blockchain Summit India 2019, the first annual conference as part of the Vision Blockchain 2030 initiative, was a full success for Cashaa.

The Summit’s main highlight was the launch of India’s first public blockchain network by Auxledger, Cashaa’s partner. Cashaa is planning to move its token CAS on Auxledger.

Aside that, the Summit was marked by another product launch: Cashaa has launched its CMC wallet with exchange functionality, including for users in India.

Users Can’t Lose Control Over Their Tokens

The first version of the CMC wallet was launched in November and had over 2000 individuals and businesses register so far. The newly launched version includes an exchange functionality, solving existing exchanges’ issues of convertibility and security.

With the CMC wallet, users hold their tokens in a multisig. On top of that, Cashaa has built the Cashaa exchange engine. Like the CMC wallet, the CMC exchange is centralised in compliance, and decentralised concerning security and funds management. Therefore, users can’t lose control of their tokens but always have the ownership without any central institution that can act without users’ permission.

How It Works

How does this work? To buy Bitcoin, users get the best possible price from different centralised exchanges, different OTC pools as well as the Cashaa order book. When users confirm the price, in the same moment money from their Cashaa account gets deducted and they get the Bitcoin credited. In this way, Cashaa solves the liquidity issue, gives users a better price and they do not need to have accounts with all these exchanges.

How to sell? The moment a user confirms the price and decides to sell, Cashaa asks for their private key, as Cashaa does not have the authority to take Bitcoin from users’ wallets. To make the process simple, Cashaa sends the encrypted private key to the user’s system, the user enters their password to decrypt it, the Bitcoin gets signed, it goes to the centralised system, and they get their fiat back to their wallet.

Each time a user transacts through their wallet, buying or selling, and if anything happens to any intermediary, they are not at risk to lose either Bitcoin or fiat. All assets are always under user control.

Furthermore, users get the following features:

  • Bank transfers from over 150 currencies
  • Hold, transfer and pay money directly through your account
  • Make free deposits in EUR and GBP
  • Credit and debit card payment in over 200 countries

As a next step, Cashaa will include additional cryptocurrencies in the coming months until May and has announced a mobile version for June. For more details, see here.

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