The act of sending money across borders has always been a complex and challenging process. According to a 2022 American study, only 1% of respondents claimed to have used cryptocurrencies to send money to family or friends outside of the country. Although cryptocurrencies offer unique benefits, such as the ability to work around the world 24/7/365 and ownership of your funds instead of relying on a bank, the percentage of users highlights the challenges that average users face when dealing with this technology.
Espresso Cash was designed with the aim of simplifying the process of sending money using stable coins. This mobile wallet addresses the concerns of average users and overcomes various challenges associated with cryptocurrency. Here are some of the key design decisions that make Espresso Cash stand out from the crowd.
Espresso Cash is designed with the average person in mind, providing a list of features that can be used to onboard new users in less than 10 seconds. While other wallets have been designed for Defi, most of them do not cater to average users.
Espresso Cash is a mobile wallet.
Espresso Cash is not just a Chrome extension, but a mobile wallet that aims to target the over 1 billion users who use their phones for daily transactions.
You can send money with links but it is just the tip of the iceberg.
Although the ability to send money with links is one of Espresso Cash's features, it is just the tip of the iceberg. The link feature provides little value on its own, and users are left to figure out what to do next. Espresso Cash aims to provide a seamless user experience, whether the user has the app installed or not.
We are all in one product, not a crypto app store.
Espresso Cash is an all-in-one product, as opposed to a crypto app store. The goal is to provide users with the best experience when sending USDC across the world.
We onboard users with a stablecoin for now USDC, not with SOL, ATOM or ETHER.
The decision to onboard users with a stablecoin, such as USDC, instead of SOL, ATOM, or ETHER, sets Espresso Cash apart from other wallets. Users are educated about stablecoins as a universal means of payment before learning about other cryptocurrencies like SOL or ETHER. Furthermore, all fees are paid in USDC, which avoids confusing new users with volatile assets.
We didn’t do another name service because privacy is not there yet.
Unlike some products that offer name services, Espresso Cash does not. The team believes that name services are not the solution to the problem of adoption. Instead, the focus is on educating users about self-custody and the secret recovery key.
We use Solana because they are the fastest and cheapest to send USDC but we don’t advertise it.
Espresso Cash leverages Solana infrastructure to facilitate the use of stable coins, but users do not need to know which blockchain the platform uses on its back-end.
We do care about self-custody and we are educating our user the best we can.
Self-custody is essential for Espresso Cash users, and the team is dedicated to educating them about it. Although it may be tempting to provide login with Google or web3auth, this approach could be misleading and dangerous. Educating users about the secret recovery key is part of the web3 journey and a fundamental shift in paradigm.
We do care about on-ramp and off-ramp in terms of user-experience and fees.
On-ramp and off-ramp are crucial components of the user experience when it comes to cashing in or cashing out USDC. Espresso Cash has partnered exclusively with Ramp Network to offer users the best experience possible, with the lowest fees and the highest level of compliance. In conclusion, Espresso Cash is a unique mobile wallet designed to simplify the process of sending money using stable coins. With its focus on providing the best user experience for average users, it aims to change the way we send money across borders.
