Bitcoin vouchers (BTC) are one of the most convenient and private ways to buy bitcoins. However, despite the convenience and privacy they offer, bitcoin coupons have yet to reach their full potential to drive global bitcoin adoption.
Read on to learn what bitcoin coupons are, how you can use them to buy bitcoin with cash, and why they could play an influential role in bitcoin adoption.
What are Bitcoin vouchers?
Bitcoin vouchers are prepaid cards – similar to gift cards – that can be purchased with cash or credit card and are exchanged for BTC. The amount of bitcoin “stored” in coupons typically ranges from $10 to $250.
Crypto vouchers can be digital or physical, with the latter providing an innovative way to buy bitcoin privately with cash.
Physical bitcoin coupons are sold at kiosks, grocery stores, gas stations, and newsagents, allowing quick and easy access to bitcoin for anyone with cash in their pocket.
Buying bitcoin using a physical bitcoin voucher only takes a few minutes and allows you to seamlessly and privately convert your fiat currency into digital currency.
The process differs slightly from provider to provider, but in general it works as follows:
- Visit a store that sells Bitcoin coupons.
- Buy a voucher for the amount of bitcoin you want to buy.
- Redeem your bitcoins by entering the voucher code on the provider’s website and providing your bitcoin wallet address to receive your coins. If you purchased a bitcoin voucher that comes with an LNURL QR code, simply scan it with your Lightning Network (LN) wallet and receive your bitcoin through the Lightning Network in a second.
And that’s all! You receive bitcoins and your purchase is complete.
The Role Bitcoin Vouchers Can Play in Mass Adoption
Thanks to the likes of Aztec, Coininfinityand fast bitcoinsyou can buy physical bitcoin vouchers in a wide range of global locations.
From a gas station in the Austrian Alps or a newsagent in Warsaw to a kiosk in Johannesburg, Bitcoin vouchers can be found in a growing number of cities around the world.
Max Tertinegg, co-founder and CEO of Coinfinity, which sells Bitcoin coupons called “Bitcoinbon” at more than 4,000 locations in Austria, said Cryptonews.com:
“Bitcoin vouchers are a convenient way to introduce people to bitcoin without having to go through the process of setting up a wallet and fully registering on an exchange. For many people, a physical purchase at an outlet [point of sale] is the preferred way to purchase goods – Bitcoin vouchers can also help attract new customers. Our Bitcoinbon product has been on the market since 2015 and has since helped thousands of people buy bitcoin quickly and easily.
While bitcoin vouchers offer a user-friendly way to gift bitcoin or buy small amounts of bitcoin on the go in the western hemisphere, the real power of bitcoin vouchers lies in the role they can play in driving adoption. bitcoin in emerging markets.
Because bitcoin vouchers allow anyone with a smartphone to buy bitcoin in a way that they are already buying mobile phone credits.
In Kenya, for example, you can top up your mobile minutes by buying an Airtime scratchcard voucher at almost any kiosk. To load the airtime credit on your phone, you open the field where the voucher code is, dial 141, type the voucher number and press the OK or Call button.
With physical bitcoin coupons, you can buy bitcoin efficiently in the same way. Therefore, Bitcoin vouchers open simple and easy bitcoin purchases to millions of people who are already familiar with buying digital credit using this method.
While crypto exchanges are doing a lot to expand into as many markets as possible, there are compliance requirements that get in the way of easy access to bitcoin for people without papers or bank accounts.
Even the major peer-to-peer (P2P) exchanges that power the majority of bitcoin exchanges in frontier markets require users to verify themselves using official government documentation. People who do not have ID cannot use these platforms.
Bitcoin vouchers, on the other hand, can be purchased with cash, and there is no need to provide ID, as amounts “stored” in vouchers generally fall under regulatory reporting requirements for cash purchases. species.
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– Mastercard: 51% of consumers surveyed in Latin America and the Caribbean have “experienced” crypto
– One in seven wealthy people now own “digital assets” – Survey
– 13% of Canadians surveyed owned bitcoin in 2021, up from 5% in 2020 – Bank of Canada
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How To Use Bitcoin Vouchers To Buy Bitcoin With Cash
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