FAQ

How does account recovery work? 

When you create your Beans account your private key is bound to your email, phone, and pin code. When you prove ownership over this information the servers are able to restore your account!

How can you offer such high yield?

We are using digital currencies and blockchain technology to take-away inefficiencies in cross-border payments and lending and borrowing. Ultra Stellar provides the yield on the offered assets.

What currencies do you support?

We support bank deposits/withdrawals in EUR/ARS/BRL/USD/SOL/NGN and XLM. We also support no-fee cash deposits in various countries and cash-outs in almost any country through Moneygram.

Finally, in the app, you can convert into USD, BTC, ETH or XLM at zero fees and without markups. The USD exchange rate is at the informal rate (dollar blue).

How much money can I send?

There are no limits in Beans. You can send any amount, small or big. With bigger amounts, we do advise sending multiple smaller amounts to get the best rates. We don’t do the conversions ourselves, they are executed on a decentralized marketplace. Deposits and withdrawals are submitted to limits as they go through third parties.

How are you able to offer free transactions?

We make use of the Stellar blockchain, where transaction fees are so low that we decided to sponsor them. This will allow you to send free cross-border and cross-currency transactions!

Why are international money transfers so cheap with Beans?

Beans is a peer-to-peer money-sending solution. The use of blockchain technology allows for faster, more efficient, and secure transactions by eliminating intermediaries and reducing associated costs. By leveraging the advantages of blockchain, Beans App eliminates fees that are typically associated with traditional banking systems. This results in lower costs for international money transfers.

Does Beans have a card? 

No, Beans currently does not support credit/debit cards.

Where can I find the different deposit/withdrawal options for each country?

You can find an updated list of each country's deposit and withdrawal options on our website; www.beansapp.com/#countries