Crypto Academy / Season 3 / Week 3 - Homework Post for @sapwood – Multiple Transfers or Batch Send in One Click

Thank you, Prof., @sapwood for your lecture on multiple transfers. I have really learned a lot on this.

Please I am here to try out my best in this homework. I hope I do well this time.

Meaning of Multiple Transfers in One Click and Benefits

This is the process of sending a particular asset or assets to more two or more addresses or users at the same time through a single click. It is a process that makes it easy to pay multiple people with crypto asset, without having to send it one by one.

For instance, if Mr. A want to sent a particular or different users on steem, say Users B, C and D, he can send the steem at once through multiple sends by a single click, without having to send it one after the other.

This is amazing tool that can serve merchants, business owners, employers or contest organizers who pay their salaries, benefits or rewards with cryptocurrencies.

Tools available for this function are multisender, multisent (both on Ethereum blockchain) and Steemyy (on Steem blockchain). Now, we look at the benefits.

Benefits of Multiple Transfers with One Click
The major benefits of this tool are:
1.It helps in sending a single output to more than one address or user. Example, sending Steem to two or more users in one click.
2.It helps in sending a multiple output to more than one address or user. Example, sending Steem and SBD to two or more users in one click.
3.It costs less in transaction fees because same transaction fees in multisend and multiplesender is applicable in single transactions. For example, in the Ethereum network, sending 0.1 ETH to a single address might cost 0.06ETH and sending 0.5 ETH to 5 addresses at 0.1ETH each will cost the same 0.06ETH as gas fee. Thus, multiple transfers with single click safe money.

Note: The illustration in number 3 for the gas fee is not from a real transaction experience, but imaginary to explain the point.

4.It makes the transaction fast and scalable, compared to sending to different addresses one by one. Thus, multiple transfers with single click safe time.

5.It creates room for massive adoption of the asset, because of the ease of transfers. Example, employers might choose to pay his employees with ETH or Steem because he can send salaries to thousands of employees with less fees. In so doing, all the employees will adopt ETH or Steem as a mode of payment.

Other Benefits
It prevents loss of funds because the DAPPs used for multiple transactions quickly dictates wrong addresses. Thus, if the sender makes mistake on one or more addresses, the transaction will not go through. Example is MultiSender, which points out the wrong address/addresses immediately.

How to Connect Metamask (Ethereum wallet) To Multisender Dapp
Step1: paste the link https://multisender.app/ on your browser on Metamask using Etherum mainnet. The Dapp opens with a welcome to the main page.

Step2: Click on Connect and choose Metamask. You will be asked to confirm your decision to connect your wallet to the site. Click on connect. Now, your Metamask wallet is connected to MultiSender

How to Perform Multiple Transactions In One Click on ETH/ERC20 Tokens

Here I am going to show how to send ETH to multiple addresses, using MultiSender.

Step1: Select token address. When you click on the search icon, your ETH address will display with the amount you have in the wallet. Click on it and it will fill the space, with decimal (18) automatically included.

Step2: Proceed to the list of addresses in CSV page. Here, you can paste the addresses or upload a file containing the addresses you intend to send to. For me, I am pasting different addresses.

Step3: Click on send. It will start loading and checking for possible errors.

Step4: After it has been confirmed that the addresses are correct, you will need to click on approve. In my case, I don’t have enough ETH in my wallet, so I can not approve the transaction.

I hope you understood the steps.

How to Perform Multiple Transactions on Steem Blockchain Using Steemyy
Here, I will be demonstrating the multiple transactions with Steem token. For this I will show how to send same amount of steem (0.1) to 2 users.

Step1: Go to https://www.steemyy.com and click on tools.

Step2: click on the Steem Wallet Tool - Send SBD or STEEM to Multiple Accounts link. This leads where you will be required to type your username as the sender and paste your private active key. You can put your username with or without @. Put the amount of steem to send. Select steem/hive. Ignore the sendXtime and interval.
Note that your private active key is safe, since it will not be uploaded anywhere.

Step3: Type the two accounts you are sending to. Each username must be on separate line. You can include @ for the username or leave it. Put 0.05 after a space beside each username.

Step4: click on the send icon. The following will show that the Steem is sending. Then it will display sent when the transaction is completed.

How to Send Different Amounts of Steem to Different users with Different Memos

Step1: Put the total amount, example 0.1 select steem/hive.

Step2: type the username, amount, unit and memo. Here you use different amounts and different memos.

Step3: Click on send icon. Now your transaction is completed.

How to send repetitive/recurring amount at the pre-defined interval
Step1: simply change the number of times under sendXtime icon. Put your desired number of times, example 2.

Under interval, select your option, example hour.
What this means is that your steem will be sent to these users two times at the interval of 1 hour.

Step2: Click on send. Now your transaction is completed.

What Happens When The ETH address/addresses You Input in MultiSender is Wrong

If you input a wrong ETH address or addresses in the list of addresses in CSV, the DAPP will display the addresses that are wrong and the transaction will not go through until you make the corrections.

What Happens if Steem Username You are Sending to on Steemyy is Wrong

Here, I used addabi instead of adaobi and the transaction did not go through. Rather, it showed unknown key. This is a proof that if the username is wrong, the treansaction will not be successful.

Note: The wrong username is only wrong if it does not exist on Steem blockchain. If the username exist but it is not the one you intended to send funds to, the funds will go through because it is only wrong to you, not Steem block chain.

Thus, one still needs to be careful.

Conclusion
Multiple transaction is a very safe, scalable and fast tool in sending crypto to multiple users. It follows that this method can be used by anyone, irrespective of level of experience. I hope you will try it out.

Thank you for your time.

Cc:
@sapwood
@steemcurator02