Bringing back Ethereum to Quidli
Users can now share Ether with their employees, contributors, community members as crypto perks & incentivizes
Our initial focus at Quidli has been offering an easy-to-use shared Bitcoin experience for groups and teams. But we actually started our crypto journey on Ethereum and so we’re over the moon to post that Ether is now also available on the platform for users to directly buy and share with their team and community members to use as crypto perks, incentives, and rewards.
What is Ether?
In a nutshell, Ether (ETH) is cryptocurrency generated by and used to operate the Ethereum blockchain, and it’s the number two crypto in terms of market cap behind Bitcoin valued at over $27 billion as of mid-June 2020.
Like Bitcoin, ETH can be used for payments, staked as collateral, or held with expectations that its value will increase over time. But while Bitcoin establishes a decentralized peer-to-peer payments network, Ethereum aims to decentralize the Internet entirely. So in addition to being a digital store-of-value, ETH is key to accessing the growing number of unstoppable, uncensorable protocols and applications being built on top Ethereum.
And now ETH is available to share on Quidli — simply sign into your company’s account, hit the ‘Buy Ether’ option, and complete the transaction in order to add ETH to your company’s crypto perks pool.
Why are we excited to add ETH?
Our enthusiasm for ETH is mainly due to the opportunities we see it bringing to integrate for our users some of the more innovative and useful liquidity features of Decentralized Finance (DeFi). Examples of what comprises DeFi can be found on this list of applications compiled by DeFi Pulse.
Since taking off in 2019, DeFi has driven as high as $1.24 billion in total value locked across protocols programmatically engaging in financial services on behalf of its users at a given time. By connecting to Ethereum, our aim in turn is to tap into these dynamic DeFi apps, protocols, and ERC-20 tokens to offer even more financial flexibility to Quidli users without them necessarily have to overcome the relatively steep learning curves crypto has today.
We’re big fans of Bitcoin, and its position as the core store-of-value for cryptocurrencies is indisputable. But we recognize that building the future of real open financial products and services requires more programmability and a flexible suite of tools not offered on the Bitcoin blockchain. So leveraging Ethereum, its robust ecosystem of tools, and the DeFi movement in addition to Bitcoin is ideal in order for us to offer users access to the best of both worlds.
Crypto purchases on Quidli are now powered by Transak
As a compliance measure, we recently integrated crypto payment gateway Transak to manage crypto purchases on Quidli. This provides us with infrastructure to manage purchases of BTC and ETH across multiple currencies, including USD, EUR and INR; and users with greater localized payment methods to ensure better adherence to regional regulations.
Offering ETH as an option to users has always been on the Quidli roadmap. And so integrating Transak’s simple fiat-to-crypto on-ramp widget significantly reduced the work time required by allowing us to use the same gateway to buy both BTC and ETH. Accordingly, this helps accelerate our aim to offer an even wider variety of tokenized digital assets including stablecoins, security tokens and NFTs.
Overall, we’re very excited to be able to partner with a fellow ConsenSys Tachyon portfolio company in order to deliver to users efficient and secure crypto on-boarding and buying experiences without having to leave the Quidli platform.
Want to start offering team members Bitcoin and or Ether as work perks? Create an account for your company on Quidli to get started.
Are you an employee that wants to receive crypto as work perks at your company? Fill out this request form and we’ll be sure to reach out on your behalf.
Visit our site, follow us on Twitter, or contact us directly with any questions or comments you may have at hey@quid.li.
