BTCPOP VOUCHERS: Transfer Bitcoin Instantly and Securely for .5%
New or old in the Bitcoin economy, you are likely aware of the scaling debate and the rising fees to transact with Bitcoin. While too much traffic is a good problem to have, not having a way to handle that traffic and a 100k backlog in the mempool is a bad problem. Thankfully, you don’t have to wait for the blocksize to raise to make micro instant transactions at Btcpop.
The tool Btcpop created is called vouchers. Vouchers are a very simple yet secure way to transfer Bitcoin within the platform. Vouchers fully represent Bitcoin within your Btcpop account, and anybody can create/redeem a voucher with a Btcpop.co account.
Here is an example to better explain the process
Bob is a Bitcoin seller at LocalBitcoins.com. Bob is contacted by Jerry a distant friend in the area who just wants to buy $10 to test the waters with Bitcoin before he jumps in head first. Bob usually meets with first time Bitcoin users and helps them set up a secure wallet on their phone...but for only $10, it would not make financial sense for Bob to meet with Jerry in person.
Bob also realizes that if he sold Jerry $10 worth of Bitcoin at his 10% markup with the transaction fee, Jerry would feel like he got taken advantage of on the price. At $2000 price with 10% markup Bob could send Jerry .0045 Btc. However, the network fee of .000525 would make the final amount Jerry received only .003975 Btc. Which Jerry would see in his wallet that his $10 of Btc is only worth about $7.95. There is also the chance that the transaction gets stuck in the Mempool and takes days to confirm before Jerry can use making it even less appealing to Jerry. The high fees, and potentially long wait time would make it unlikely that Jerry buys any more BTC from Bob.
Better with Btcpop
With Btcpop this can be done very simply and cheaply. Bob already has an account at Btcpop, so he simply creates a voucher for .0045 Btc.
The fee for this will be .0000225 Btc, but Bob doesn’t feel the need to pass on that small cost to Jerry. Bob helps Jerry create an account at Btcpop.co. He uses his referral code so he gets compensated if Jerry brings in fees for the platform. Bob's Referral link will be his User ID at the end of https://btcpop.co/827/Sellingvouchers. So just enter your user ID into this link and you will receive commission user generated fees*.
He then gives Jerry the voucher code from above jvZcbBvgEQHAG4z2AppkqpZ1ud and tells Jerry just to go to claim Voucher and enter that code. and tells Jerry to just submit this code in the “claim voucher” area of Btcpop.
Jerry enters the code and instantly receives the .0045 Btc where he can use it on any of Btcpop's cool investment features right away. Jerry is able to withdraw his Bitcoin at any time with a small network fee due to the way Btcpop bunches his transactions and sends them out every 12 hours or less. And if Jerry doesn’t decide to withdraw his Bitcoin he is free to use it within the platform to:
- Buy some of 100+ Altcoins listed on Btcpop’s exchange
- Earn 5-15% Risk free interest storing his Bitcoin in the instants pool saving account where he can withdraw anytime
- Invest in quality P2P loans with collateral
- Invest in cool new IPO’s and Bitcoin companies via shares traded on Btcpops exchange.
- Invest in Bonds of various users
- Create his own vouchers and sell his Bitcoin at a profit to his friends
- He could also use his referral code when signing up his friends and earn a % of fees his friends generate for the platform.
With Btcpop Jerry is excited about how easy Bitcoin is to use and all of the investments he can make. Jerry decides to jump into Bitcoin, and becomes a long term high volume customer of Bob’s.
Security of Btcpop and the Voucher system
From the example you can see that Btcpop’s voucher system can be a very useful tool for sending Bitcoin in any amount. It is an easy way to sell or transfer Bitcoin anywhere in the world instantly without using the network. It makes a lot of sense until Bitcoin implements a scaling solution and transactions become fast and cheap again. And if you have to trust a 3rd party, Btcpop.co is a quality 3rd party to trust. Btcpop has 50,000+ users who trust the platform, years worth of history, and thousands of Bitcoins that have gone through the platform without a hitch. Users who have lost funds on the platform did so because of bad investments, not because the platform wasn’t working.
The security of the voucher system is as strong as you make it. The code can be looked at as a private key. If you keep it safe, you will have no issues. As a wallet and investment platform, you can take comfort that Btcpop has some of the highest level security protocols around. All users funds are stored securely in cold wallets and throughout Btcpop’s history no member has lost a single Satoshi worth of value that wasn’t his/her own fault. The website is securely backed by some of the best protocols and computer minds in the world. And withdrawals are done in less than 12 hour increments, so the trade-off for the added security is still quite small.
Vouchers in chat
As vouchers are so cheap and easy to use, don't be surprised if Btcpop whales start making it rain Bitcoin in chat to celebrate!
* Currently Commission is only paid on repaid loans, but there is a plan to include all fees in the future.
“Btcpop Vouchers are a very useful in house tool for securely transferring Bitcoin, instantly with only a 0.5% fee!”