With the advent and popularization of Bitcoin, new ways to pay are more prevalent than ever. Sites and apps offering consumers a unique way to pay for the things they purchase spring up quite often. But in a world of hundreds of “ways to pay,” it can be hard for consumers to navigate the complex landscape of decentralized payments.
If Bitcoin payment options weren’t confusing enough, some sites are even offering entirely new currencies with which to pay for nearly anything. Subsequently, it can be very confusing for potential users to attempt the switch to a new form of payment. Luckily, this guide has been created to give readers an in-depth look into one of the newest ways to pay making waves in the market.
What Is GetGems?
Marketing themselves as another method for users to pay for the things they love, GetGems allows users to pay friends and customers alike, all by sending a simple text message. The premise is simple: users download the GetGems app, and are then able to easily send and receive currency—all by sending a simple text message!
In keeping up with the decentralized principle of cryptocurrencies, the site relies on a host of third-party investors and developers to come up with new updates and patches to ensure continual progress for the userbase and the interface. Because of GetGems’ predisposition to progress and change, jumping in this late in the game can be a daunting task for even the most tech-savvy of users.
This guide will provide a comprehensive introduction to both the GetGems app and the Gem form of payment.
The GetGems App
No doubt the most popular product coming out of the GetGems company, the GetGems app is the selling point of their entire project. The GetGems app is available for both IOS and Android, and functions as the jumping off point for the setup of a definitive Gems payment method. Users can choose to accept payments in Bitcoin, Gems, or both. Once an account has been set up and a payment method verified, users are given a brief intro into the process of sending and receiving funds.
Luckily, the process is not at all complicated. The app, with over 220,000 registered users as of October of 2016, allows customers to become more acquainted with the process of sending money via text message. The app’s simple texting interface allows users to access their contacts, bank, and payments. Additionally, the “store” section of the app allows users to spend their coins and Gems on a variety of crypto-friendly vendors.
One caveat to the current version of the app, however, is that both the recipient and the sender of the funds must have the app in order to conduct the transaction.
The Gems Currency
Like many other organizations of their same kind, GetGems makes their real money from the promotion of their own form of currency. As the name might suggest, the GetGems currency is, surprisingly, Gems. Though the currency is worth only $0.045641 per Gem at the moment, the price has somewhat stabilized from the past year, which puts it ahead of some other more volatile forms of currency.
In terms of purchasing, consumers have few options. Basically, those looking to break into the market of Gems should consult the GetGems site, and consider downloading the app. Once a payment method is linked, purchasing Gems is as easy as clicking a button in the convenient “store” interface.
Consumers should be aware, however, that the extent to which the currency will stabilize is still up in the air. With a life of only two years, GetGems simply doesn’t have the respect or the track record of some of the larger forms of cryptocurrencies.