About Claimable Balances

In the evolving landscape of digital currencies, ease of use and accessibility are paramount for users. AUDD Digital introduces an innovative solution to one of the common hurdles in digital transactions: sending funds to someone without an existing digital wallet. This is where the concept of a "claimable balance" comes into play, significantly simplifying transactions within the AUDD Digital ecosystem.

A claimable balance is a feature that allows AUDD Digital users to send AUDD  to any individual or business, regardless of whether the recipient currently has an AUDD Digital wallet. This functionality ensures that transactions are not hindered by the recipient's setup status within the AUDD Digital platform, making the transfer of AUDD seamless and inclusive.

When you send AUDD to someone who does not yet have an AUDD Digital wallet, the transaction will not fall through or get rejected. Instead, the system creates a claimable balance. This balance is essentially AUDD that is set aside, waiting to be claimed by the intended recipient once they sign up for an AUDD Digital wallet.

From the sender's perspective, these transactions are marked as 'pending' within their transaction history. This status remains until the recipient completes the registration process with AUDD Digital, using the email or mobile number to which the AUDD was sent.

For the recipient, the process of claiming their balance is straightforward. Upon registering for an AUDD Digital wallet with the email or mobile number used in the transaction, the previously sent AUDD is automatically deposited into their new wallet. This process is designed to be immediate, allowing the recipient to access and use their AUDD without delay.

• Inclusivity: Allows AUDD Digital users to transact with anyone, regardless of whether the recipient has pre-existing knowledge or is set up with AUDD Digital.
• Simplicity: Eliminates the need for recipients to set up a wallet in advance of receiving funds, streamlining the process of sending and receiving digital currency.
• Efficiency: Ensures that transactions are not stalled or cancelled due to the recipient's digital wallet status, promoting fluid financial interactions.
• Encourages Adoption: By receiving funds in AUDD, new users are introduced to the AUDD Digital platform, potentially increasing the ecosystem's user base.

The claimable balance feature on AUDD Digital represents a significant step forward in making digital currency transactions more accessible and convenient. By removing the barrier of pre-existing digital wallets, AUDD Digital is expanding the possibilities for digital transactions, ensuring that users can send and receive AUDD with ease, regardless of their or their recipients' current engagement level with the platform. This approach not only enhances the user experience but also plays a crucial role in the broader adoption of digital currencies.