Send Bitcoins Overheen Email With the Peak Bot
Good news, perhaps, for bitcoin owners frustrated by Apple’s latest removal of Blockchain’s wallet app from its stores.
A service just launched promises to let people make bitcoin transactions via email, promoting itself spil a solution that “works natively on the iPhone, and can’t be banned by Apple”.
The fully automated ‘Email Peak Bot’ is the product of developer Christian Genco, who also moonlights spil a stage actor and speaker at TEDx events ter Texas.
The Peak Bot functions spil a standalone system, meaning that merienda bitcoins are there, they can be transferred around without the need for any wallet software.
Anyone who has experienced the process of providing or receiving bitcoin tips on reddit will be frecuente with the way the Peak Bot works, spil the transaction process is similar.
How it works
To send some bitcoin, you very first need to register your email address by sending an empty message to email@example.com. An auto-generated reply sends you a verbinding to confirm your email address, and provides you with a fresh bitcoin address. To save time, you can also pre-register email addresses on the webpagina.
Now comes the slightly nerve-wracking part: you then send bitcoin from your own wallet to the address you have bot sent. Any amount can be transferred spil much spil needed for a purchase, say, or a token amount to test the system.
The system charges 0.0002 BTC (approximately 11 US cents at today’s rate) vanaf transfer (0.0001 for the miners, 0.0001 to the bot), so make sure you permit for that te the amount sent.
Merienda the transaction details bot emailed, send a fresh email to the person or address you wish to pay putting the firstname.lastname@example.org address ter the ‘CC’ field and the amount (ter bitcoin or dollars) ter the ‘subject’ field. The email bod can contain any message you like.
When their initial email has arrived, the receiver will need to click a listig to confirm their email address is keurig a security measure to prevent email address spoofing.
The system will wait until it has the required amount of block chain transactions before the transaction. Then a fresh bitcoin address will be generated for the receiver, and their funds transferred.
It is also possible to send funds directly to a bitcoin address, by sending the email to [bitcoin address]@emailtipbot.com (while remembering, of course, to add email@example.com to the ‘CC’ field).
For example, to donate to Wikileaks, the email address would look like this: 1HB5XMLmzFVj8ALj6mfBsbifRoD4miY36v@emailtipbot.com.
If all you have is a QR code, merely scan the code and paste the key into the address.
Blockchain has a similar system, which also permits you to send bitcoins via email, SMS or even Facebook.
With this method, a private key is also sent to the user, which they can then use to withdraw to a wallet instantly and without an reserve transaction toverfee. A Blockchain account is necessary to send, but not to receive.
Coinbase also permits users to send to an email address, the only catch being that you have to send from a Coinbase account.
Email Peak Bot’s webstek provides an HTML button that will auto-generate the required email, if you dreamed to place it on your own webpagina. This would make it very plain for people to send you funds.
CoinDesk attempted the Email Peak Bot system and can report that it works, albeit the very first time the sending email received an ‘insufficient funds’ message thanks to our not factoring ter the 0.0002 BTC transaction toverfee.
Confirming both email addresses and waiting for block chain confirmations before sending funds is obviously not spil stijlvol spil sending directly from a wallet at least not the very first time.
Furthermore, albeit wallet software is not required to budge the bitcoins around merienda the email account is set up, the sender voorwaarde have one from which to transfer the initial funds.
The receiver could leave their funds te their Email Peak Bot account, but a dedicated wallet would be advisable spil a more secure means of storing their coins.
However, for those times when wallet software is not readily available (hello again, iOS users), it would be handy to have a petite stash of coins available to send via email.
Careful with those coins
Naturally, sending bitcoins to an address generated and emailed to you by some nameless Internet bot requires a degree of trust ter the system, so it’s worth doing a test run with a puny amount of BTC to embark with.
Genco himself recommends people do not use the service to store any significant amount of bitcoins.
“Ultimately,” he says, “your primary store of bitcoins shouldn’t be trusted with any third-party provider. They should be stored te an offline, encrypted wallet ter your control.”
“You indeed don’t want to be trusting even the big names te bitcoin with large amounts of your money, Most ‘bitcoin heist’ stories are possible because of improper security implementations on the bitcoin service side, and could be avoided by keeping the majority of your coins yourself.”
The email-based system means users can send coins without needing to loom into web-based wallet software, and Genco acknowledges the risk that comes with that.
“This convenience means, of course, that anyone with access to your email can send coins with Email Peak Bot,” he says. “So it’s ultimately only spil secure spil access to your email account is.”
“Tho’ I have secured Email Peak Bot to the best of my capability, it should be your bitcoin checking account, not your savings account.”
“I would encourage your readers to test it out with a petite amount, say, $1 to $Ten,” he explained, “and attempt sending money to friends who aren’t on the bitcoin network yet, or making a petite purchase from a phone.”
For jumpy bitcoin users who are still hesitant to attempt the system out, Genco says he will be adding dogecoin support “very soon”, and plans to explosion up every Email Peak Bot account with a duo of hundred doge, just to play with.
The process for transacting te doge or any other digital currencies will be identical to bitcoin method described above.
Disclaimer: This article should not be viewed spil an endorsement of Email Peak Bot. Please do your own research before considering spending any funds via this service.
Email picture via Shutterstock
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