Coinay Brings Bitcoin Vouchers to Major Spanish Retailers

The usage of Bitcoin in Spain has been on the rise in recent months, thanks to various efforts by companies such as Chip Chap. Additionally, a few new Bitcoin ATMs have also been installed at prominent locations in Barcelona, which could boost BTC adoption.  And Coinay has launched a voucher system, allowing customers to buy Bitcoin from retail locations.

Coinay – Buying Bitcoin with Vouchers

One of the main issues which novice users struggle with at the moment, is buying their first Bitcoin(s).  Signing up for an exchange and verifying your identity is a tedious task, requiring a ton of personal information that not everyone is eager on handing out.  Plus, in most cases, you have to wait a few days before this process in completed.

Once your account is setup and verified, the process of buying your first BTC begins.  Most platforms will allow for fast – or instant – deposit methods, to let customers complete their transactions in a fast and convenient manner.  It would be much simpler to go to a major retailer and tell them you want to buy Bitcoin over the counter.

This is where Coinay comes into the picture.  This company lets customers buy a Bitcoin voucher.  It is important to note than this voucher system is not intended for mass purchases of BTC at this time, even though you can buy multiple vouchers at any given time.  At this point, a voucher costs 10-20-50-100 EUR, based on the current BTC exchange rate.

Speaking of the Bitcoin exchange rate, the price will be fixed when redeeming your voucher, which will occur through the Coinay website. Once the voucher has been redeemed on the website, the correct amount of BTC will be sent to your wallet within the next 4 hours.

What makes Coinay’s service so interesting is the fact that over 3,000 retailers are already participating, so far.   This creates ample opportunity for anyone even remotely interested in Bitcoin to obtain a small chunk of this disruptive digital currency in a convenient manner.  Do keep in mind there is a 6% fee per voucher, which will be deducted during the redemption process.

“With Coinay, we can enable customers to easily buy bitcoins in retail locations all over Spain.  Using vouchers makes buying bitcoin fast, easy and convenient for customers”. – Paolo Premoli, Coinay Head of Sales Southern Europe told DigitalMoneyTimes.

Expanding To The Rest of Europe

Should the Coinay project turn out to be a success, the company will be looking to expand its services to the rest of Europe.  But that is not all, as Coinay has also set its sights on becoming a global player in the Bitcoin voucher market.  Further expansion plans include Latin America and Africa.

“It’s the perfect product to buy bitcoin in cash-based markets.  We cannot wait to bring it to other countries.  So if you are interested and want to resell our product just send us an email to We would love to hear from you!” – Paolo Premoli concluded.

Source: Press Release via Email

Images courtesy of Coinay and Shutterstock