Introducing Lndr v1.4: Increased Cryptocurrency Settlement Limits, BCPT Staking and More!
Have you’ve been following along with our development roadmap? If so, you already know that a new Lndr release was due for sometime in October. We’re proud to announce that Lndr has reached version 1.4, which was released to the iOS App Store and Google Play Store today.
Let’s take a look at some of the great new features coming to Lndr in version 1.4.
Split Larger Expenses with Increased Settlement Limits
One of the most popular requests we’ve had is to increase our cryptocurrency settlement limit. For most Lndr users, the current limit of $250 per week is suitable for most expenses. But splitting large bills like airplane tickets, monthly rent or trips to Las Vegas has been difficult.
There are legal reasons why we can’t allow Lndr users to settle or transfer an unlimited amount of cryptocurrency each week. But today, we are happy to introduce the ability to unlock an increase to your cryptocurrency settlement limit.
In Lndr v1.4, there are two ways you can do this.
Unlock Increased Settlement by Confirming Your Identity
The first way is by confirming your identity with our new “Know Your Customer” system. KYC is an optional, secure feature which allows Lndr users to submit documents for verification by a third party. We have partnered with Sum&Substance, a leading identity-verification firm based in the UK.
Completing the KYC process in Lndr is easy. Open the Lndr app and click the Settings gear icon at the top. Scroll down and tap Unlock Additional Features to open the menu. Then, tap Verify Your Identity. You will then need to complete a quick form with some of your personal data. You will also need to upload a photo of government-issued identification, as well as a picture of you holding up that ID. If your ID doesn’t include your address, then you will need to upload address verification as well.
Once your identity is confirmed, your cryptocurrency settlement options will increase from $200 to $2,000 in USD value per week. This is a 1000% increase and allows for much greater settlement capability.
Stake Blockmason Credit Protocol Tokens to Increase Your Settlement Limit
The second way you can unlock increased settlement limits is to stake Blockmason Credit Protocol Tokens, also known as BCPT. BCPT is our native cryptocurrency and this is the first of many planned feature upgrades to Lndr that you can earn by staking. If you are unfamiliar with the term, staking means to hold BCPT in your Lndr wallet.
If you don’t need a significant increase, staking BCPT is a great way to unlock a smaller boost to your settlement limit. It’s also easy. First, you will need to acquire at least 25 BCPT tokens. BCPT is available at these eight cryptocurrency exchanges: Binance, Bittrex, Cryptopia, EtherDelta, Gatecoin, HitBTC, KuCoin, and Upbit.
Once purchased, you will need to transfer your BCPT to your Lndr wallet. Open the Lndr app and click the Settings gear icon at the top. Scroll down and tap ETH (& BCPT) Address to open the menu. Lndr will display your wallet account, a long string of letters and numbers. You will transfer your BCPT to this address. Shortly after, it will display in the BCPT Balance setting.
Please note: you must copy this address EXACTLY, or your transfer of BCPT to Lndr may fail! So be sure to double and triple-check that you have the address correct.
Once your Lndr wallet contains more than 25 BCPT, your cryptocurrency settlement options will increase from $200 to $750 in USD value per week.
Other Fixes and Features in Lndr v1.4
Along with the significant new features mentioned above, Lndr v1.4 has a few other updates:
- On the “Settlement” screen, we’ve added a dropdown box to allow you to choose how you want to settle up. This makes settling up in different ways easier.
- We’ve added a new “Offline” screen, for when you have no active Internet connection. Before, it was challenging to determine what was going on with Lndr if there was no active Internet. Now, it will be clear.
- If you use an Android-powered phone, you will see our new loading screen when you first open Lndr.
- And finally, we’ve squashed a handful of bugs and improved performance. One of the standout bug fixes addresses an issue where the debt and Ether (ETH) amounts do not match. This only occurred with certain settlements, so most users didn’t see it. It’s fixed.
Thanks for using Lndr and we hope you enjoy version 1.4! If you run into any bugs or issues with Lndr v1.4, please be sure to report them to us in our Telegram community.