Bitcoin is going more mainstream
For years, we have been covering the ins and outs of Bitcoins. As they gain and lose popularity, one thing is clear: they are still wildly popular. If you have not heard of them, or are unfamiliar with how they are used, check out this explanation even a kid can understand. If you are familiar with them, did you know you can send a pre-paid Bitcoin gift certificate to friends and family who have yet to discover the wonders of Bitcoin?
Bitcoin is digital currency. When I say digital, I mean completely digital, operating free from banking institutions. Okay, not completely digital, as you can attain physical Bitcoins, but this does defeat the original premise behind an “all digital” currency and enthusiasts greatly prefer the digital variety.
So, Bitcoin is 98% digital
I liken Bitcoin to tokens that you used to get in gaming arcades, with one exception: Bitcoin currency can be broken down into fractions (called satoshis). Using the token example, you gave the machine $1, you got four tokens. With Bitcoin, those 4 “tokens” could be divided into multiple fractions, giving you more bang for your buck…or Bitcoin.
If any of this seems foreign to you, reference the article linked above or dig deeper to learn more about mainstream adoption via 21 Inc.
How to send prepaid Bitcoin gift cards
A new app, Bit It, allows you to send a pre-paid egift card to anyone. If you know the painful process of creating an individual Bit Coin, you’ll know what a cool deal this is.
To start, you’ll need a Bit It account. Then, you can buy your egift cards. You’ll receive a code in your email (or your recipient’s email) to claim your Bitcoins.
Once you’ve claimed your Bitcoins, they’ll be available in your wallet. As an added bonus of using Bit It, you earn rewards. For every, 1€ spent on Bit It, you earn one point. With every 100 points you accrue, you will receive a 1€ discount on your next card purchase.
Next up for Bitcoin
Perhaps Bit It, combined with 21 Inc., will help propel the Bitcoin adoption movement; as the very users that need to adopt it, have passed it off as a fad, or of something of disinterest. What do you think of Bitcoin gift certificates?