Spritz Finance – Automatic crypto bill pay is here! Program payments without offramping to a bank.

Get a glass of something you like. Spritz Finance is here to help you get your financial house in order, so you can sit back, relax, and take a load off.

We’ve had a great time with DeFi, and we’re glad we invested. We’ve made a lot of money, used it to buy a lot of things we like, and made a little money off of them, too.

Regrettably, sometimes or twice a month, we still need to check our bank accounts to ensure we have enough money to cover our monthly bills and mortgages. Any surplus funds should be sent to DeFi, but have you ever considered increasing your financial independence without increasing your effort level?

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Stop stressing, because Spritz Finance is here to help you out.

Table of Contents

I. Introduction

1. What is Spritz Finance?

Spritz is a secured cryptocurrency bill pay service that facilitates the simple transfer of on-chain assets to pay for everyday services and products. You may automate payments to your mortgage, credit cards, student loans, utility bills, and other expenses by linking them to your Spritz account and scheduling payments through your crypto wallet.

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2. Mission

Financial independence, achieved by automation

While we rest, dine, play, and go about our everyday lives, Spritz Finance imagines a future in which all of our financial needs are met automatically. Everything we earn is safely and openly put away in savings, all of our expenses are paid on time, and we are making investments in our financial future. Our ability to spend money at will is not governed by any central authority. The Spritz Finance team is certain that blockchain and decentralized finance (or DeFi) are equipping us with the necessary means to make this vision a reality.

A bridge between DeFi and everyday personal finance 

Spritz’s first goal is to make it possible to pay bills straight via DeFi protocols (no bank needed), with the ultimate goal of linking every smart contract and every traditional use-of-funds in the globe.

Built by a mission-driven team of creators

Spritz was launched earlier this year by a diverse and international group of Web3 designers, engineers, and storytellers who are committed to making managing one’s financial life a pleasurable experience for everyone. They have a diverse group of people on their team, some of whom are crypto specialists (degens) and others of whom are new and inquisitive about the field, but they all contribute something useful to the group as a whole. The team’s aim can only be achieved with the help of an ever-expanding community of users and developers, who together make everyone better, stronger, and more successful.

II. Direct Wallet Pay: Pay bills in USDC from any crypto wallet

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1. Paying bills using web3 has entered a new age

With approximately 50% increase in the first half of 2022, crypto wallet Metamask now boasts over 30 million active users, as reported by Decrypt. Lots of fresh faces are joining in on the fun of NFTs, DAOs, and unique DeFi protocols.

Now that more crypto self-custodial wallets like Metamask support layer-2 networks like Polygon, Spritz is able to process IRL bill payments made with the most widely held digital assets in the world, including several stablecoins supported by the Polygon network, at a fraction of the cost and time it previously took.

Circle’s USDC is one example of a stable currency; it is a top-5 digital asset in terms of market value. In the crypto capital markets, where “blockchain-based’smart contracts’ eliminate the need for traditional intermediaries and automatically match buyers, sellers, borrowers, and lenders, opening financial access to more people” USDC has become a backbone currency with over $54.3 billion in circulation (as of August 4th, 2022).

In a nutshell, we are able to easily connect TradFi and DeFi with their most recent product updates, which makes use of the best crypto wallets and stablecoins on the market. To simplify web3 personal finance and make it accessible to a wider audience, we need to ensure that every smart contract and cryptocurrency wallet is linked to real-world financial utility.

Payments to thousands of US bill pay providers, like banks, mortgage companies, and TradFi institutions, may be made instantly by Spritz thanks to its integration with popular wallets like Metamask for people holding, farming, or exchanging stablecoins on Polygon. Spritz plans to release support for making bill payments with all tokens on Polygon in the near future.

The greatest aspect is that we can connect to several cryptocurrency wallets, such as Coinbase Wallet and TrustWallet, for seamless use. Below, we’ll utilize Metamask as our linked wallet of choice for the example.

2. How Direct Wallet Pay Works

Direct Wallet Pay enables users of Spritz who have been invited to the company’s private beta (beginning in the United States) to quickly sign up for the service, complete their KYC requirements, connect their cryptocurrency wallet, and link their bills in order to make their first payment using USDC or other stablecoins on Polygon, such as USDT, DAI, and miMATIC.

The whole process can be completed in minutes..

➤ Step 1 – Connect your wallet

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This is too easy!

  • ➤ Step 2 – Link your bills
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After signing up to the Spritz app and completing the KYC, you’re ready to link some bills. Simply click on “Bills” from the left menu, or “Link your first bill” from their Getting Started module. 

You can then securely log into and link the credit card, mortgage, and other bill pay accounts you’d like to pay with crypto.Step 3 – Select a bill to pay

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Let’s return to the Bills screen from the left side menu. Here you’ll see all the bills you have linked through Spritz with additional details, such as any owing amount due, your last statement balance and due date for the next payment.

➤ Step 4 – Click on “Pay from Wallet”

You’ll see two options to pay your bills. One of which includes Direct Wallet Pay, which will take you to – you guessed it – their direct wallet pay screen to set up your bill payment using USDC instantly. 

With Direct Wallet Pay, as long as your connected wallet holds USDC or other stablecoins on Polygon, you’ll be able to easily pay your bills in a matter of seconds.

➤ Step 5 – Schedule your payment

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Choose the amount in USDC to put towards the payment, click “Confirm Payment,” and voila, your bill pay will automatically be scheduled.

3. Direct Wallet Pay’s Benefits

Spritz’s built-in wallet payment system provides several benefits. Here are a handful to tell your pals over a cold one on the patio:

➢ Keep full control

Make purchases and settle accounts as you see fit using your private key and cryptocurrency wallet. You should maintain complete command of your money and any associated debts. Simple integration with your regular web3 cryptocurrency wallet.

You don’t have to give TradFi access to your cryptocurrency wallet, and it will still secure your information and process the payment on your behalf.

➢ Save time and money

In a shorter amount of time, you may schedule your payments. When using Direct Wallet Pay, you won’t have to worry about moving your USDC to a different Spritz wallet address. Less work and fewer exchanges are the result.

Better still, there will be no transaction costs for early adopters who use Spritz to pay their bills. Initiating the bill pay with Polygon will incur no transaction costs for Spritz Finance’s clients, except for the incredibly low gas fees on Polygon (pennies!) .

➢ Utilize US Dollar Coins When Making Payments

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There is a good reason why USDC is not just one of the most widely held stablecoins but also one of the most highly valued digital assets of the present day. Direct Wallet Pay allows Spritz Finance’s clients to make the most of their USDC holdings by making bill payments in the stablecoin without having to convert to cash or offramp to a bank.

There are various methods to increase your stablecoin returns and pay bills concurrently with the many chances to farm using USDC, notably via Polygon DeFi programs, and earn interest in USDC.

➢ Keep things straightforward.

At Spritz, they put an emphasis on keeping things as easy as possible. Direct Wallet Pay has made it very convenient, and in the eyes of many, even pleasurable, to link any cryptocurrency wallet with traditional bills and schedule payments using on-chain assets from any location at any time.

What’s next

The team has gone a long way in a short amount of time, with Direct Wallet Pay being a big milestone for their rapidly expanding user base.

Here are a few more interesting efforts Spritz Finance are working on to further build off of the debut of Direct Wallet Pay as they continue to grow their client base and welcome more early customers paying their mortgages, credit cards, school loans, and more using USDC.

● The inclusion of more stablecoins and Polygon tokens, such as MATIC.

● Plus, new networks like Solana, Ethereum, and Avalanche may be supported, which in turn opens the door for more wallet integrations.

● The expansion of bill type integrations, such as local utility companies and rent payment services.

In the meanwhile, Spritz’s Private Beta is available to users in the United States. Please use this link to access the private beta registration page. People using DeFi on Polygon who also have MATIC  and other stablecoins, such as USDC, in their wallets will be given preference.

III. The Reasons Behind Spritz Finance’s Polygon Launch

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When it comes to building up Ethereum’s infrastructure and making it more scalable, Polygon is where it’s at. Among the products it provides are ZK Rollups, Optimistic Rollups, L2 solutions, hybrid solutions, sidechains, stand-alone and enterprise chains, data availability solutions, and more. Over a billion dollars’ worth of transactions were handled, over a hundred million users had their addresses stored, and over five billion dollars’ worth of assets were protected because of Polygon’s scalability solutions.

It’s possible to construct a wide variety of projects on a wide variety of layer-1 and layer-2 networks, each with its own set of advantages and disadvantages. Using the Polygon network, Spritz enables instant, secure, and private bill payment transfers from your choice cryptocurrency wallet to your bank account. They went with Polygon due to its rapid transaction times and cheap gas prices, which makes it ideal for paying bills with cryptocurrency; however, if your cryptocurrency is on a different blockchain network, you may need to utilize a Polygon Bridge to send and receive funds.

Using the Polygon bridge

Opening a Polygon wallet in your chosen cryptocurrency wallet is the first step. MetaMask and the Coinbase Wallet are just two examples of the many popular wallets that Spritz supports.

◾ On MetaMask:

Using the browser’s built-in wallet, access the Ethereum Mainnet submenu, choose “Add Network,” and then search for the Polygon Mainnet. In addition, you may include the following Chain ID when ordering Polygon: 137

◾ On Coinbase Wallet:

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Open your mobile Coinbase wallet’s “Settings” menu and choose “Active Network” to utilize Polygon Mainnet. To access Polygon Mainnet, update your software. This will teach you how to access your bridged Polygon assets on the Ethereum Mainnet.

After linking your wallet to the network, you may access your Polygon wallet and Polygon PoS bridge via https://wallet.polygon.technology/login/ in your Ethereum wallet. Log up with your chosen bitcoin wallet. Never give out your secret keys.

To link Ethereum to Polygon, click the bridge button and follow the on-screen instructions. Once you sign the wallet transaction and authorize gas prices, the assets should bridge within minutes.

IV. Beta program

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Polygon’s covert cryptocurrency bill payment test has debuted in the U.S. Polygon was picked for its lightning-fast speeds, top-tier security, and cost-effective transaction scalability.

Through DeFi, play-to-earn games, NFTs, and their soon-to-be-connected metaverse assets, Polygon’s clients may earn more on-chain and develop passive income streams to pay off monthly costs like mortgage and rent, utilities, credit card debt, school loans, and even a Netflix subscription.

The Spritz Finance team is building a network of bridges from TradFi to customers’ crypto wallets, making it easy for them to schedule bill payments on time each month – without needing to off-ramp to a bank – in an increasingly digital world where earning and managing assets on-chain has grown rapidly.

1. Polygon’s use of cryptocurrency bill payment for Spritz clients.

Personal finance in the Web3 era will enable users to earn more through DeFi on Polygon (instead of keeping fiat in a checking account earning less than 1 percent) and utilize on-chain assets to pay real-world obligations. By going live on Polygon, we can process payments more rapidly and inexpensively and connect customers’ off-chain and on-chain income.

Off-chain work will end. Chris Sheehan, Founder & CEO of Spritz, has seen more individuals use blockchain to save, invest, and generate money via yield farming, P2E games, and NFTs. These folks need a way to transfer on-chain gains into fiat cash for daily expenses. Spritz is the first web3 native billpay service.

2. Connect IRL bills to crypto wallets to program payments.

Polygon users may now use Spritz to effortlessly pay their bills using cryptocurrency as part of the beta release.

Direct Wallet Pay

Polygon users may now use Spritz to effortlessly pay their bills using cryptocurrency as part of the beta release.

The quickest and most convenient method to use USDC to pay bills in the real world is via Direct Wallet Pay.

We can provide near-instant remittances to thousands of US bill pay providers, including banks, mortgage providers, and other TradFi institutions, by connecting with popular wallets like Metamask for individuals holding, farming, or exchanging USDC on Polygon.

3. Why does Spritz work?

The bill pay tool offered by Spritz Finance has several useful features that the Polygon community may take use of.

Instantly link your fiat currency bank account with your cryptocurrency wallet.

They connect fiat and digital wallets. You can create an account, add real-world invoices, connect your wallet, and make your first payment in minutes while keeping full control over which bills you pay, when, and with what Polygon assets.

Spritz links Polygon users’ recurring charges to bitcoin wallets and on-chain assets, eliminating out the middlemen. By reducing needless transactions and expenditures, you may invest and earn with more bitcoin.

Payment processing costs are eliminated for all blockchain-based exchanges.

For a considerable time period, Spritz beta users will not be charged any transaction fees for making bill payments using the service. When they initiate the bill payment transfer, they will also pay the Polygon gas fees.

All of your bill payments may be made in one convenient location.

It may be difficult and frustrating to keep track of your personal money and make sure that all of your payments are paid on time. No more late payments or concerns that your digital assets aren’t being put to good use; our software allows you to combine all of your bills and costs on a single platform, automatically schedule payments using crypto, manage everything (including your DeFi positions), and more.

4. Join the beta program and community

DeFi and Polygon users in the US may now join the private beta.

Online queue for access requests. You may mention your Polygon activity in the email seeking private beta access. Americans will be given preference.

Those who satisfy the conditions will be invited to the app’s private beta release. To pay bills using Polygon stablecoins, go into Metamask (or another Polygon wallet) and pick the payment option.

Requesting entry into the beta program in the US will allow eligible customers to set up a one-on-one demonstration and onboarding session with a Spritz staff member.

If you’re a beta user, you may be the first to hear about (and try out) exciting new product releases by joining the Spritz Discord group and gaining access to the exclusive #beta-testing channel.

Early adopters will be eligible for a variety of incentives, such as Spritz merchandise, airdrops, and a variety of tokens (both non fungible and fungible), as well as additional prizes that will be disclosed in the near future.

5. Coming up next

Polygon US customers may now pay using bitcoin and DeFi. Spritz Finance hopes to interface with more Polygon DeFi protocols, P2E games, metaverse projects, NFT lending applications, and more in the coming months.

Wherever you spend time and earn on-chain, they seek to meet you and pay your debts.

They want to extend outside the US, allowing more Polygon users to pay bills through our app.

Official Links

Twitter: https://twitter.com/spritzfinance?lang=enDiscord: https://discord.gg/spritzLinkedin: https://www.linkedin.com/company/spritz-finance/Telegram: https://t.me/spritzfinanceReddit: https://www.reddit.com/r/SpritzFinance/

Disclaimer

Opinions stated on CryptoDaily.io do not constitute investment advice. Before making any high-risk investments in cryptocurrency, or digital assets, investors should conduct extensive research. Please be aware that any transfers and transactions are entirely at your own risk, and any losses you may experience are entirely your own. CryptoDaily.io does not encourage the purchase or sale of any cryptocurrencies or digital assets, and it is not an investment advisor. Please be aware that CryptoDaily.io engages in affiliate marketing

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