In the crypto space its very important to know that how can we send multiple transfers in a single click because its an important function/tool that can make our life. Many time we do transfer coins to multiple wallets and doing it one by One is not just time-consuming but also incur the cost and even not at all convenient. I did a study on this and in this Post, I am going to share how can we send ERC-20 tokens to multiple wallets with a single click and hope that you find it useful.
There is a portal https://multisender.app/ that makes it happen and let's try to learn more about it.
What is multisender?
As the name suggests that we can initiate multiple transactions with this and it will not take a long time like it requires if we do one by one? In simple words if we have more than one wallet address where we need to transfer funds with the same amount or different amount then we can get the transfer done with just a single clue and multiple transactions will be initiated with the single command. It will save quite a lot of time because sending multiple transfers take a lot of time and there is also a possibility that we might commit some error with the amount. This function is very useful when I need to do the distribution to multiple wallets. For a project that distributes AirDrop, this tool can help them making distribution easy.
In a broader view, I can say that if in the future we get the option to get paid our salary in form of crypto then this function is going to help us a lot because all the transfers can be done in a single click. When I was working in a company at that time I used to process salary through ABA files and banks offer this facility to upload files on their portal. This file carries the bank details of all the employees and in one click multiple transfers get done. In the same pattern, multiple transactions in a single click work and we can do the transfer in a single click for many wallet addresses. This also works in the same way.
How it helps us to save transaction fees?
We know that there are charges involved with each transaction and creating multiple transactions means we need to pay charges multiple times however if we can get all the transfers done in one go and that too with a single click then obviously we will have to pay a fee one time. These days ethereum networks charge about $6-10 fee for each transaction and if we need to transfer ERC 20 coins to 10 addresses then we will end up paying quite a lot toward the transaction fee. Now with this function, we can transfer to all of them in a single click and it will charge quite less. Like we need to pay for transaction fee and there would be some charge by the tool itself however still we would not pay more than $20 on the higher side so this way it helps us save a lot on the transaction fee.
Apart from the transaction, there are some other benefits as well-
- Time-saving is very important and with this, we can save a significant amount of time as there would be only on transaction creation.
- It is also helpful to reduce the duplicate transfer as tool let us know if there are duplicate address. Its hard to get funds back so its better to follow a proactive approach with this tool.
- It provides the ease of transfer and as doing a single transaction is easy and we can finish in few minutes and I don't think that it will take more than 5-10 minutes or so on the higher side.
open URL- https://multisender.app/ and click on connect option provided at the top of the page to connect metamask wallet.
Once the wallet is connected then we are ready to perform transactions.
- Select the token we want to transfer
- Enter wallet addresses or we can also upload through CSV file in an easy way.
- We can enter the same or different amount with wallet
- Verify the transaction and its done.
Overall this process is easy and also does not take too long. In simple words, we can just select the coin, enter addresses, approve the transaction, and its done.
In this post, I have talked about sending ERC-20 tokens to multiple wallets in one go and soon I will publish my next post where I will share how can we send HIVE tokens to multiple wallets in one go.
Thank you so much.