The multi-send payment solution, accessible on the Kinesis platform, allows system users to create a list of payees, and specify the different amounts they wish to pay them, in order to send Kinesis gold and Kinesis silver to multiple recipients at once. The multi-send functionality saves time, streamlines and simplifies paying and money-sending for all system users, allowing the recipients to access funds delivered through the multi-send functionality, instantly.
Although the multi-send feature allows for sending KAU and KAG only, it is designed uniquely to allow Kinesis users to enter precise, specified values they wish to send in all fiat currencies available on the platform.
Example: If I want to set up a payment where the amount I pay this payee is GBP100 every month, it allows me the flexibility to set it up against the fiat currency. Hence when the actual payment is made, Kinesis computes how much KAU is required to be sent at that time to meet the 100GBP.
The feature also allows Kinesis users to simply specify the KAU or KAG amount they wish to send, irrespective of changing market prices, allowing them to always send a pre-specified amount.
Users can add, delete and edit these payments on the fly.
The multi-send feature can also be used to send funds with an email address or send funds to Kinesis wallet addresses.
This feature is not available through the Kinesis mobile app and is exclusive to the Kinesis desktop only.
What are the functionalities of the multi-send feature?
The multiple-payments feature allows you to:
- Add multiple payments via the ’ADD PAYMENTS’ button.
- Send batch payments to all or selected payees.
- Pre-specify the amount of sent KAU or KAG in any fiat value.
- View and review the transaction details.
- Send funds via send-to-email.
- Add/Edit/Delete payment details instantly and seamlessly.
Which currencies can I send with the multi-send feature?
Kinesis account holders can only send Kinesis gold (KAU) and silver (KAG) using the multiple payments functionality.
Can I send multiple payments with my Individual/Business account?
Yes. The multi-send solution is accessible to all system users. You can send KAU and KAG to a number of recipients from your Individual account or one of the types of entities available in the Kinesis business offering (Business, Trust Fund or Retirement Fund accounts).
Are there any extra fees for sending funds to multiple users at once?
No. No additional fee is applicable to the multi-send feature. The standard blockchain fee (0.45%) is applicable for KAU and KAG.
Where do I find the multi-send function on the platform?
The multi-send option can be found in the 'Payments' tab on the Kinesis platform, located on the left-side navigation bar. From there, you can easily manage the sending of KAU and KAG to your chosen list of recipients with the ’add payments’ function or view and manage your payment history using the ‘Transactions’ tab.
Please note that the multi-send feature is currently not available through the Kinesis mobile app and is exclusive to the Kinesis desktop only.
Can I send funds to multiple recipients outside of Kinesis using only their email?
Yes. Thanks to the send-to-email feature, you can send funds to multiple recipients outside the Kinesis platform with only their email addresses.
Additionally, the send-to-email function automatically enrols both the sender and the recipient into the Kinesis Silver Referral Rewards, rewarding users with free silver upon meeting the program's conditions.
Can I convert my KAU/KAG to fiat or crypto with multi-send?
No. The multi-send feature only supports KAU-to-KAU and KAG-to-KAG transactions, which means you can only send gold and silver without the ability to convert them to another currency.
However, for simplified calculation purposes, you can specify the amount of KAU or KAG you’re sending in all fiat currencies available on the platform (USD, GBP, EUR, AUD, CAD, SGD, CHF and AED), sending eg. $100 worth of money in KAU.
This means that users can set up a payment of KAU or KAG equalling the specified value in the chosen fiat currency, to a number of payees at once. This way, the multi-send feature allows the sender to input the specified, fixed amount in fiat, which Kinesis completes and settles in gold or silver on the user’s behalf.
Is there a maximum number of recipients I can send funds to at once?
You can add up to 50 recipients (and their payment details) to your 'Payments' tab, and from there, you can send the funds at the same time with the multi-payment feature.
Can I earn silver rewards or yields using the multi-send feature?
Yes. The multiple payments feature provides an opportunity for users to get rewarded with Kinesis gold (KAU) and silver (KAG). You can earn gold and silver through the Kinesis Yield System as well as participate in Kinesis' Silver Rewards program, by:
- Accepting KAU or KAG, sent to you through the multiple-payments feature, which makes recipients automatically eligible for the Holder’s Yield - rewarding them for holding gold and silver in their Kinesis accounts.
- Participating in the Referral Silver Rewards program which earns you 1 ounce of silver, shared between you and each newly referred user you’ve successfully invited to Kinesis, as long as the program’s specific conditions are met.