Using Digifox

I Downloaded Digifox… Now What?

August 3, 2020

Congrats on downloading the Digifox app! You’ve just taken your first step towards taking complete control of your finances and becoming your own bank.

You may be wondering, “What do I do now?”

No worries, financial freedom is at your fingertips.

At the bottom of your app, you have your different tabs, or sections of the app with which to navigate. These currently include the “Wallet”, “Earn”, “Spend”, “Contacts”, and “Profile” tabs.

The first thing you’ll likely notice in your app is the “Wallet” tab on the far left bottom menu selection. Within this page, you will see the buttons labeled “Receive”, “Send”, “Swap”, and “Add”.

These buttons have the following functions:

Receive: This is where your wallet address is available in the form of a QR code. You can also copy your address with one tap to paste in elsewhere. This is your unique address, and what you use when you want to send funds to Digifox from another wallet, whether it be one of your own wallets or a friend’s.

Send: Send is the section you’d want to use if you needed to send money to a family, friend, or business. You can either paste their wallet address or their username into the search bar, or use the little QR scanner in the upper righthand corner to scan their QR code with your phone. Easy peasy!

Swap: This is where you can buy and sell coins or swap ones you currently hold for others. If you have no funds (UDSC or other coins), then you will be prompted here to deposit money either from a card, a bank account, or to send coins you already own from another wallet.


Add: This is where you will deposit your funds into Digifox, either through your card, bank account, or from another wallet (it’s the same page that will show up under the “Swap” tab if you don’t have anything in your wallet yet). From here, if you choose to deposit from your bank account or debit card, you’ll be prompted to go through the KYC or “Know-Your-Customer” onboarding experience run by one of our many providers, such as MoonPay or Transak.

If you choose to deposit from a pre-existing crypto wallet, you’ll simply use your wallet address found under the “Receive” tab.

Any money you deposit into Digifox from either your bank account or your card will be deposited in the form of UDSC, which is a cryptocurrency pegged to the U.S. Dollar.

After you’ve been able to deposit money in the form of USDC or some other crypto into your account, you have a couple of options.

  1. Just leave your money in there to keep it safe, but don’t do anything with it.
  2. Buy different types of cryptocurrency
  3. Invest your crypto in either Celsius (centralized custody, higher interest) or Compound (decentralized custody, lower interest)

If your goal is to earn interest on your savings, the first thing you’ll want to do is head over to the “Earn” tab.

To invest in Celsius, you need to create an account and be verified through our app before you are able to deposit funds. This process takes less than two minutes, and once it’s set up, you’re good to go! Celsius offers a wide range of coins you can deposit and earn interest on, and you have the ability to withdraw your funds at any time.

You can learn more about Celsius and how to use it in this article.

Compound is a decentralized way to earn interest on your crypto, but because of this, earned interest rates are lower. However, interest is paid out about every 15 seconds, unlike with Celsius. Also unlike Celsius, users do not need to sign up with an account or go through the KYC process to start earning interest with Compound. All you need is a Digifox wallet and some funds, and you’re good to go!

The next thing you’ll notice in the bottom menu is the “Spend” tab. This tab is not currently useful to you as a user, as the function has not been built out yet. This tab will eventually be turned into a community tab where current challenges and more can be viewed as we constantly work to improve the app. The debit card feature will be moved under the “Wallet” tab, and you will have the ability to spend your savings on everyday purchases as you see fit. This is just one more step towards letting you take full control of your personal finances and become your own bank.

Next in the line is the “Contacts” tab. Here is where you can add and view your list of friends and family who are also on the app. You can add people by either searching for their wallet ID or username in the search bar, or scanning their QR code with the scanner in the upper right hand corner.


Lastly, we have the “Profile” tab.

Here you can see the email associated with your account and your username. You also have the option to go in and edit your profile and the ability to manage your security options to get back into the app (Pin Code and enabling Touch/Face ID).

The “Help Center” is where you can view all the help articles our team has written to learn more about the app and find answers to some of our FAQs. If you need help with something not available in the Help Center, you can easily contact our support and reach a knowledgeable Digifox team member to help you out!

Next, you have “Privacy”, where you can view our terms and conditions. Under “Referral Management” you can see a list of the people you’ve referred. Finally, you have the ability to rate Digifox right from the app! So, whether good or bad, give us some feedback if you have the chance. We love hearing from our users!

The Digifox app and experience are being constantly improved by our team, and we listen carefully to what our users want to see to make it as easy and useful to them as possible as we move toward a future where our users are able to be their own bank.



MORE POSTS

You might also like..