Sia partners with Transak to allow frictionless user onboarding for SiaStream
Sia is launching SiaStream — a new application to store media in the cloud at the lowest costs and stream it from apps like Plex or Kodi. SiaStream leverages the Sia data storage marketplace to provide fast streaming and ultimate control & privacy.
Similar to Sia, SiaStream is powered by Siacoin (SC). Currently, there is a broad range of crypto exchanges where you can purchase SC. However, most of them require you to go through KYC (Know Your Customer) checks and can end up taking a few days for your account to be verified. Even after your account is set up, there is a wait time involved to transfer funds and might require an intermediary step of buying Bitcoin to then convert to Siacoin.
Sia needed a way for mainstream users, who don’t necessarily understand blockchain and crypto, to get started with SiaStream in the easiest manner possible. We are excited to announce that Sia is using Transak to onboard users with fiat so that they do not need to own SC or go to a 3rd-party platform to buy it.
With Transak integration, customers can use SiaStream directly with fiat using a range of payment methods in 32 different currencies over 14 different fiat currencies (see details here: https://www.notion.so/transak/Coverage-Payment-Methods-Fees-30c0954fbdf04beca68622d9734c59f9). Transak uses smart contract technology to connect local on-ramps and fiat payment methods with liquidity for Siacoin.
App Developers
App developers who want to integrate the Transak fiat < > crypto payment gateway can get started with the following resources:
- Learn more at http://transak.com/
- Get an API key and developer account at http://dashboard.transak.com/
- Read the documentation at https://www.notion.so/transak/Integrate-Transak-f43cbb5dc7fa4d068a044ef9589879bf
Using Transak to Buy Siacoin
Step 1: Choose fiat payment method and amount
Transak supports card payments and bank transfers. See more details of supported payment methods here: https://www.notion.so/transak/Coverage-Payment-Methods-Fees-30c0954fbdf04beca68622d9734c59f9
Step 2: Create order
You sign in with your email address and receive a one-time password. Some users may need to fill out KYC if they are doing bank transfer methods or buying large amounts. KYC is approved instantly by the Transak systems.
Step 3: Pay
Payments are usually instantaneous, although it can take up to 2 days for EUR SEPA payments.
Step 4: Receive SiaCoin
That’s it! SiaCoin will be delivered instantly to your wallet as soon as you have paid. You can then get started with using the Sia ecosystem.
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Quote from Manasi Vora, Head of Product Strategy at Sia
“We are always working hard to reduce frictions for both our developers and end-users and to provide a seamless experience interacting with the Sia network. Transak integration helps us advance our mission with SiaStream of bringing a decentralized application to mainstream users and onboarding them to the Crypto and Sia ecosystem.”
About Transak
Transak is a developer integration for a fiat-to-crypto payment gateway. It does this by aggregating local compliance, payment methods, and liquidity from around the world. Transak is backed by Consensys and graduated from the Tachyon accelerator program.
About Sia
Sia is the leading decentralized cloud storage platform. No signups, no servers, no trusted third parties. Sia leverages blockchain technology to create a data storage marketplace that is more robust and more affordable than traditional cloud storage providers.
