Frequently Asked Questions
We always appreciate it if you take a minute to look at the most common questions.
To send and receive cryptocurrency, first you will need to set up a wallet. You can do this by downloading the Factor Wallet App on your device. Once your wallet is set up, you will need to obtain the receiving address of the wallet you are sending to. When ready, you will simply input the address, the amount of cryptocurrency to be sent, and then confirm the transaction. To receive cryptocurrency, you will just need to provide your wallet address.
Cryptocurrency transactions are generally extremely secure. However, it is important to ensure that you take the necessary precautions to protect yourself and your funds. Always use strong passwords and two-factor authentication when setting up your wallet, and make sure to send funds to the correct address.
Remittance in Factor Wallet is the process of sending money from one person to another using a cryptocurrency, such as SUSD. This allows people to transfer money quickly, securely, and without having to use traditional banking services.
Remittance in Factor Wallet works by using a cryptocurrency wallet, where you store and send the cryptocurrency. To send money, you will need to provide the recipient’s wallet address/Email or Phone Number and the amount of cryptocurrency you wish to send. Once the transaction is confirmed, the funds will be sent to the recipient’s wallet.
The main benefit is the speed of the transaction. Cryptocurrency transactions can be completed in minutes, compared to days or weeks with traditional banking services. Remittance in crypto is also more secure, since funds are sent directly to the recipient’s wallet and are not subject to the same security risks as traditional banking. Additionally, remittance in crypto is often more cost-effective than traditional banking services.
The recipient can claim the remittance from a Merchant by simply providing the TRX ID and PIN of the received remittance.
Swap is a feature in some cryptocurrency apps that allows users to exchange one digital asset for another without having to go through an external exchange. This is done by connecting two wallets and exchanging the assets directly between them.
Swap offers users a convenient, secure, and cost-effective way to exchange digital assets. It allows them to access a wider variety of assets, instantly convert one asset to another, and avoid the potentially high fees associated with traditional exchanges.
You can swap all the supported cryptocurrencies in the Factor Wallet.
To use Swap, you need to go to the Swap page and select the assets you wish to exchange. Once the exchange is completed, the swapped assets will be reflected in your accounts.