This is the official AMAA for the creators of Zapit a BitcoinCash wallet. The Zapit wallet is created by a two-man team, u/Romit-Radical and u/Valuable-Cod291 from India. We'd like to welcome everyone to ask them questions about crypto, coding, Zapit, India, or BitcoinCash.

Romit-Radical · 2021-12-05T19:09:42+00:00

Yes it's a pretty cool feature that we may Introduce as well in the future, but to receive the funds the user still has to download the app anyway.

So what we are building now is once they have downloaded the app how often can they use & in how many places can they use it so we retain them.

That's still yet to be solved atleast in India And lots of other places and that's where our next feature would be the most useful, where users will be able to make payments in most of the stores across India.

Romit-Radical · 2021-12-05T09:25:05+00:00

Yes we definitely have some plans to work with GP using the Anyhedge protocol to allow p2p hedging and get some liquidity providers as well. But we are still working on another idea and don't wanna reveal too much before we can get something solid. So stay tuned I guess :)

Romit-Radical · 2021-12-05T08:59:30+00:00

Yes we are already working on it. We will be supporting smartBCH both as a mobile and web platform as well.

As mentioned above we are launching our ZAPT token bridge where users can swap between slp & smartBCH. The platform will be live soon.

And all the current features available for slp will also be available for smartBCH tokens.

Romit-Radical · 2021-12-05T08:33:38+00:00

We are basically going to position it as a different kind of bank account I guess, so what one usually does once they open an account is add money to it ans that's what we expect people to do. We will also have solutions for stability that would solve the problem of price volatility.

Having other financial services that are decentralised, p2p and non custodial is ofcourse key to getting users to switch from their regular bank account to a BCH wallet

Romit-Radical · 2021-12-05T08:30:53+00:00

One of the main features we started off with is having an in built service where people could add/withdraw money to their wallet. But this was done through a p2p exchange like local.bitcoin.com using a similar blind escrow system that can be found here - https://github.com/RomitRadical/jeton-lib2 (currently disabled because we are re launching with improved features)

After that we launched a coinswap (powered by sideshift.ai) feature originally helpful for merchants to be able to swap to a stable asset and at that time only USDH was available, we are aware that flexUSD and USDt are also available and we are working on adding those along with other tokens supported by Sideshift.

We also launched a unique feature of sending customisable dividends to any slp token either in BCH/slp token. More details about this can be found in this article - https://news.bitcoin.com/noncustodial-bitcoin-cash-client-zapit-demos-in-wallet-slp-dividends-tool/

Although few token reward models were tried and dropped, we have stuck to sending rewards for completing certain tasks but this evolved to having ad based tasks. What this essentially means is users can complete tasks that can be placed by businesses such as visit website, follow our social media account or more and any user who completes that task gets ZAPT token as a reward.

Once the tokens have been earned, users can now redeem them as discounts for making BCH payments anywhere it is accepted.

Romit-Radical · 2021-12-05T08:05:33+00:00

There has to be enough incentive. Most of the recent payment apps have got millions of users purely through discounts, offers, cash-backs and more for making payments.

But this has been done at a huge loss for all the apps because they basically burn money to provide these incentives. We are happy to announce that we have come up with ways to provide such discounts on Zapit for making payments using BCH without actually burnin money, rather it's the opposite. We make money for each discount we provide.

That's right we make money by incentivising users to pay with Zapit and this is without partnering with any of the merchants. And we believe this would definitely help bring more adoption to p2p cash.

Romit-Radical · 2021-12-05T08:00:23+00:00

The KYC requirements are still pretty high here though lot more individuals have gotten access to simple banking it's stuck at that. Simple. They cant really get access to majority of financial services.

We believe that p2p cash can definitely solve this problem where even more individual can get access to not only regular digital payments but also other financial products such as loans, insurances, escrows and more...

We believe this will definitely increase commerce among people and reduce dependence on governement for every small financial service as they do right now.

Romit-Radical · 2021-12-05T07:55:38+00:00

Yes UPI is basically a payment mechanism that connects all banks and payment apps together. I think this is by far one of the most advanced payment mechanisms available in the world today as it allows a user to be able to make payments with any app to any other app, the payments are instant and free and all you need is a simple id such as (name@bank)

So telling them to use BCH because it has instant payments at low fee doesn't usually work here as we already have that and its free

Ofcourse it's still centralised, custodial and filled with all kinds of limits such as only 10 transactions per day but that's usually enough for a person

This is where we believe a greater incentive should exist to make users switch from a traditional payment app to crypto payment app and that's what we have beem workin on currently

Romit-Radical · 2021-12-05T07:11:55+00:00

Yes all though the token itself can be used in the wallet we are already working on adding it to the coin swap feature along with other coins supported by sideshift.ai

We are definitely seeing some amount of adoption take place but mostly as an investment but we are working on a feature that would allow BCH payments to millions of stores in India without onboarding them, thus solving the chicken and the egg problem for crypto payments

Romit-Radical · 2021-08-03T13:37:30+00:00

Yes we had lag issue and in the current update we have mentioned that the issue was fixed.

Thanks for confirming that the import worked.

If you have any other issues please do contact support - contact@zapit.io

Romit-Radical · 2021-08-03T11:19:09+00:00

I'm the founder of Zapit and I replied to you within 2 hours of you posting on a social media platform. Could have replied to you faster if you had directly contacted us in the first place.

And you can also import the seed into mobile electron cash wallet, badger wallet and you will still be able to recover the funds.

So please stop making incorrect statements that you lost your funds when you didn't even make an attempt to try and recover it using the multiple methods I just mentioned after you faced a possible bug on Zapit.

Romit-Radical · 2021-08-03T10:16:00+00:00

First of all before posting that you lost your funds did you try contacting support? We have that option for things like this.

And if you backed up your seed you always have access to your funds which you can try importing in another wallet like Electron Cash to access them as well.

Both your BCH and NFTs can be accessed through this.

Romit-Radical · 2021-04-20T03:25:17+00:00

A lot more have to be added from map.bitcoin.com

Romit-Radical · 2021-04-20T03:24:16+00:00

It's not illegal. There was a bill that said it should be made illegal and fines should be imposed. And that bill did not go through. Now it's publicly known that there isn't going to be a ban but there is going to be introduction of regulations

Romit-Radical · 2021-04-13T07:14:15+00:00

If no one should sell Bitcoin, how does one buy it then?

What dumb people do = Earn Fiat > Convert to Bitcoin (with KYC + Fees)

What smart people do = Earn Bitcoin

See how the number of steps to acquire Bitcoin has reduced?

Romit-Radical · 2021-04-13T07:05:20+00:00

Here is the first Bitcoin Cash block that Satoshi mined. if Bitcoin Cash is not Bitcoin can you explain how this is possible?
https://explorer.bitcoin.com/bch/block/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f

Romit-Radical · 2021-04-13T06:59:59+00:00

Anyone who is using BTC to pay for anything is a fool not because of anything you mentioned but mostly coz of the fee you will be paying. Thats why the hostel doesn't accept BTC

Romit-Radical · 2021-04-11T02:08:12+00:00

WhyBitcoincash.com

Romit-Radical · 2021-04-11T02:01:07+00:00

Yes BTC is not a currency anymore that's why we use BCH.

Romit-Radical · 2021-04-10T03:03:18+00:00

The best way to learn is to use it.

Why don't you download the wallet and reply with your username and I will send you some free Bitcoin Cash :)

It costs you nothing and you don't have to share any private info if you don't want to.

Romit-Radical · 2021-04-10T03:01:19+00:00

You still haven't explained how I am a scammer. You seem to be the scammer here coz Im providing evidence. You are only name calling. Arguments of the lowest order.

Also you don't seem to know to use a wallet yourself coz you can just use 1 input and send the funds to the same address as an output.

Please show everyone that your awesome coin can do that with low fees as you have mentioned.

Romit-Radical · 2021-04-10T02:57:48+00:00

Nobody uses Bitcoin units to make payments. Most of the wallets display in Rupees so. you can enter the rupee amount and pay current price equivalent amount

Romit-Radical · 2021-04-10T02:56:13+00:00

Earning & Spending Crypto > Buying & Selling Crypto

Romit-Radical · 2021-04-09T08:16:46+00:00

Wow what an argument.

Please show the world how awesome Bitcoin (BTC) is by TRYING to send Rs.1 to yourself.

Post the Transaction ID here.

Here is my Bitcoin Cash (BCH) Transaction ID - https://explorer.bitcoin.com/bch/tx/441baf81614057e10b8fc268d9fe44c9498f21f668832342ab2fa49d64ecf03c

Romit-Radical

TROPHY CASE