List of bitcoin person-to-person (P2P) bitcoin exchanges (e.g., Bisq, HodlHodl, LocalCoinSwap, etc.)
Following is a list of P2P exchanges for trading Bitcoin. Common payment methods include bank transfer, cash deposited in the seller's bank account, in-person cash (face-to-face) trades as well as payment networks such as Zelle, Alipay, even Cash App and PayPal, for example. Any that I am missing?
Bisq (💵) client [NO KYC] <-- Fully decentralized and non custodial. Uses Tor, automatically. Guide
HodlHodl [NO KYC] <-- Non custodial. Not available in the U.S.
LocalCoinSwap (💵) [NO KYC] <-- For ETH, and ERC-20, LCS is Non custodial. BTC is custodial yet
Building the infrastructure for the Bitcoin Standard in Canada before the collapse of fiat currencies is the critical mission objective that drives innovation at Bull Bitcoin. We are very excited to announce an important milestone in fulfilling this duty: the public release of Liquid CAD, our newest product designed to accelerate and facilitate the adoption of Bitcoin. Liquid CAD is a non-custodial prepaid payment system denominated in Canadian dollars. Units of Liquid CAD (L-CAD) consist of vouchers issued on the Liquid Network as confidential bearer assets that can be transacted peer-to-peer using a Liquid wallet. Users acquire Liquid CAD by withdrawing their account balance out of Bull Bitcoin, by purchasing Liquid CAD with Bitcoin on Bull Bitcoin, by using the Liquid CAD withdrawal method on other Bitcoin liquidity providers such as Aquanow or by accepting L-CAD as method of payment.
L-CAD assets can only be redeemed for Bitcoin. They cannot be redeemed for a fiat currency payment.
Liquid CAD is a unique project rethinking the concept of fiat-pegged assets, avoiding the banking business model of “fiatcoin” (aka stablecoins) in favor of a prepaid payments model entirely centred around Bitcoin on-ramp and off-ramp. Liquid CAD is not a currency, nor is it a security: it is a prepaid card. Importantly, the business model of Liquid CAD is not to collect interest on funds in our custody, unlike fiatcoins, but rather to drive the sales of Bitcoin from which we derive our revenue and we benefit from Liquid CAD assets being cashed out and thus removed from our balance sheet. Bull Bitcoin does not get any revenue from interest. Every time an L-CAD token is purchased by a user, the amount of dollars deposited on Bull Bitcoin is guaranteed to one day be used by someone to purchase Bitcoin. It’s a one-way street: once a unit of fiat is tokenized as L-CAD, it’s never going back to its off-chain fiat form and will ultimately result in a buy order on a Bitcoin trading platform. The Liquid CAD logo is a drop of blood because our objective is to accelerate “fiat bleed”, a phenomenon best described by Pierre Rochard in his magnificent essay Speculative Attack:
“Bitcoin will not be eagerly adopted by the mainstream, it will be forced upon them. Forced, as in “compelled by economic reality”. People will be forced to pay with bitcoins, not because of ‘the technology’, but because no one will accept their worthless fiat for payments. Contrary to popular belief, good money drives out bad. This “driving out” has started as a small fiat bleed. It will rapidly escalate into Class IV hemorrhaging due to speculative attacks on weak fiat currencies. The end result will be hyperbitcoinization, i.e. “your money is no good here. Bitcoins are not just good money, they are the best money. The Bitcoin network has the best monetary policy and the best brand. We should therefore expect that bitcoins will drive out bad, weak currencies. My own prediction is that slow bleed has been accelerating and is only the first step. The second step will be speculative attacks that use bitcoins as a platform. The third and final step will be hyperbitcoinization.”
Different representations of Canadian dollars compete to be used as payment methods (cash, bank balances, PayPal balances, closed-loop prepaid cards, open-loop prepaid cards, etc.) and that the winner will be the one that has the best Bitcoin saleability, i.e. which can be most easily sold for Bitcoin at a moment’s notice. We’re very proud to provide this alternative payment method to Canadians in a time where the banking system is falling deeper into crisis, especially as the Canadian dollar is demonstrating itself to be one of the most pointless and weakest currencies that nobody really wants to hold. Finally, we’re very happy to be partnering with Aquanow, our recommended institutional liquidity provider for high-volume BTC-CAD trading. They will accept Liquid CAD deposits and withdrawals as being interchangeable with Canadian dollars. We hope that Liquid CAD will become the standard representation of Canadian dollar value among Canadian Bitcoin users.
Liquid Bitcoin (L-BTC) integration
In addition to Liquid CAD, Bull Bitcoin is also announcing that Liquid Bitcoin (L-BTC) payments are now supported interchangeably with Bitcoin transactions for all Bull Bitcoin services. This means that our users can buy, sell and spend L-BTC instead of BTC. Canadian Bitcoin traders can purchase L-BTC from BullBitcoin.com and fund their international trading accounts with L-BTC using ultra fast and cheap confidential transactions. They can also cash-out their Bitcoin balance as L-BTC from these platforms and sell those L-BTC for fiat on Bylls.com, avoiding risky and expensive international wire transfers to unknown and untrusted foreign banks. The transactional benefits of L-BTC are very potent:
Transaction amounts are hidden, in compliance with Canada’s strict privacy protection laws
Observers cannot tell whether the transaction is L-BTC or any other asset
Confirmation times are 1 minute
Transaction fees are very low (< 0.05$)
Disclaimer: Liquid Bitcoin (L-BTC) is not the same as Bitcoin (BTC). L-BTC Liquid Network assets are IOUs for Bitcoin held in a multisignature contract by the Liquid Network federation. The custody of the underlying Bitcoin is managed by a decentralized network of 15 members which process transactions and withdrawals from the multisignature contract according to the Liquid Federation protocol rules.
Liquid CAD detailed overview
Peer-to-peer prepaid payments by Bull Bitcoin
Liquid CAD is a non-custodial prepaid payment system denominated in Canadian dollars. Units of Liquid CAD (L-CAD) consist of vouchers issued on the Liquid Network as confidential bearer assets that can be transacted peer-to-peer using a Liquid wallet. Users acquire Liquid CAD by withdrawing their account balance out of the Bull Bitcoin, by purchasing Liquid CAD with Bitcoin on Bull Bitcoin, by using the Liquid CAD withdrawal method on other Bitcoin liquidity providers such as Aquanow or by accepting L-CAD as method of payment.
A new payment method in Canada
Liquid CAD can be used by anyone to send and receive payments denominated in Canadian dollars. Because of the permissionless nature of the Liquid Network, Bull Bitcoin cannot prevent Liquid CAD from being traded on secondary markets. Merchants, individuals and institutions must accept that only Bull Bitcoin can guarantee redemption of the L-CAD and that this redemption will be exclusively paid out in Bitcoin. Accepting Liquid CAD as payment is, in effect, the same as accepting gift cards as payment. However, Bitcoin being the most liquid commodity on the market, it can be transformed into any other currency easily for example using services such a Bylls which allow Canadians to pay all their utility bills, send bank transfers to third parties or sell Bitcoin to their bank account.
Making Canadian dollars bleed into Bitcoin
The purpose of Liquid CAD is to facilitate the transfer fiat in the context of the purchase and sale of Bitcoin and providing innovative new services that help Bitcoin users hedge the value of Canadian dollars against Bitcoin in the context of their commercial transactions. Our goal is to create a payment method that is specifically targeting Bitcoin users that wish to liquidate Canadian dollar payments for Bitcoin. Our mission is to accelerate the phenomenon known as “fiat bleed” whereby Canadians will gradually abandon inferior money (such as the Canadian dollar) for the superior Bitcoin alternative. Every Liquid CAD issued will ultimately be exchanged into Bitcoin. We are excited for the day Liquid CAD will be made obsolete by the inevitable hyperbitcoinization of the Canadian economy.
Like all other closed-loop prepaid instruments, Liquid CAD has counterparty risk. The owners are trusting that they will eventually be able to use Liquid CAD as a payment method on the Bull Bitcoin platform to fund their account and purchase Bitcoin. When a Bull Bitcoin user withdraws his Bull Bitcoin account balance as an L-CAD token, the Canadian dollars he used to fund this balance remains in our possession in the same manner as regular Bull Bitcoin vouchers. These funds are used to execute Bitcoin purchases when L-CAD owners decide to redeem their L-CAD for Bitcoin. In essence, each L-CAD is “backed” by the Canadian dollar deposit of the user that withdraws it from the platform in the first place.
Benefits of using and accepting Liquid CAD for payments
Irreversible, non-custodial and no bank required
Liquid CAD payments cannot be charged back, cancelled, delayed or frozen. There is no intermediary between the sender and the recipient. It is a bearer asset: whoever owns the keys owns the coins. It is a perfect way to accept payments or transact securely without depending on banks and payment processors. Canadians can use Liquid CAD to purchase Bitcoin and then use Bylls.com to pay billers, personal payees or simply sell Bitcoin to their bank account.
Fast transaction and cheap fees
Liquid Network transactions are sent and received instantly and require 1 minute for settlement. Transaction fees paid using Liquid Bitcoin can be as low as 300 satoshis per transaction (a few cents). In order to benefit from these cheap fees, make sure to download the latest version of the Elements software and ensure that the minimum transaction fee is set at 100 satoshis per kilobye. It only takes a few minutes to set up a free Liquid Network wallet, such a Green Wallet by blockstream.
Unlike Bitcoin, transactions between the sender and the recipient are encrypted. It is impossible for third parties observing Liquid CAD transactions on a block explorer to determine the amount of the transaction. In addition, it’s also impossible to even know you are using Liquid CAD, since the data identifying the asset itself is also encrypted!
What are the use-cases of Liquid CAD?
Buying and selling Bitcoin
The primary use-case of Liquid CAD is to make it easier to buy and sell Bitcoin on the Bull Bitcoin platform. By withdrawing their balance from Bull Bitcoin, users are reducing some (but not all) of the custody risk associated with keeping fiat currency on an exchange. For example, use Liquid CAD to create your own non-custodial dollar-cost-averaging schedule!
Onboarding new Bitcoin users
New users can be overwhelmed by the experience of dealing with banks to buy Bitcoin (and the heavier KYC process of account funding). You may be tempted to buy Bitcoin for them, but that will impose a lot of burdens on you. It’s much easier to set them up with a Green wallet, send them Liquid CAD and show them how to use Bull Bitcoin! They decide when is the right time for them to invest, with a lower KYC burden.
Hedging Bitcoin price
You may believe the price of Bitcoin will go down in the short term, but you still want to hold Bitcoin in the long term. Normally you have two options: short the Bitcoin price (very risky!) or sell your Bitcoin and receive Canadian dollars in your bank account (inconvenient!). By selling your Bitcoin for Liquid CAD, you can lock in the value of Bitcoin right now and buy them back later without needing to use your bank account or taking risks with leverage.
As a merchant, you want to receive the settlement of payments in Bitcoin. But this imposes a burden on your customers, which have to deal with the Bitcoin price volatility when they are paying you. Ask your clients to pay you with Liquid CAD, and you can get the settlement with Bitcoin on your own terms.
Payroll and suppliers
What if your staff or suppliers want to get paid in Bitcoin? It can be very difficult, because this means you are effectively buying Bitcoin on their behalf. Instead, you can pay them in Liquid CAD and let them deal with the process of choosing the exchange rate and using their own wallet. Let them deal with the tax burden, exchange rates and Bitcoin wallet security.
List of Bull Bitcoin Liquid Network features
Withdraw account balance as L-CAD
This is conceptually the same as “buying” Liquid CAD with your account balance. We call it “Withdrawing L-CAD” because on the Bull Bitcoin platform, we consider L-CAD and CAD to be interchangeable and fungible.
Fund account balance with L-CAD
To redeem Liquid CAD for Bitcoin, users need to first fund their account by selecting the “Deposit L-CAD” payment method. Bull Bitcoin users must always fund their account first before buying Bitcoin, and then purchase Bitcoin with their account balances. Reminder: account balances cannot be withdraw as fiat payments, but can later be withdrawn again as L-CAD.
Sell Bitcoin for L-CAD
You can sell Bitcoin and receive Liquid CAD payments instead of a bill payment, personal payee payment or bank payment. As soon as the Bitcoin transaction is confirmed, the Liquid CAD transaction is sent to the address you provided.
Liquid Bitcoin (L-BTC) and Bitcoin interchangeability
For every service which involves a Bitcoin payment, the user can substitute traditional Bitcoin payments for Liquid Bitcoin payments. This includes:
Geneco SG: Power utility company. Use number 85514401 to claim new user rewards
Redbus SG: Use my referral code redwhkdp and get 10 SGD on signup with redBus! Book StarMart, Transtar, Konsortium and many more coach companies on redBus! Redeem it at www.redbus.com/referral/redwhkdp//1001
Geneco SG: Power utility company. Use number 85514401 to claim new user rewards
Redbus SG: Use my referral code redwhkdp and get 10 SGD on signup with redBus! Book StarMart, Transtar, Konsortium and many more coach companies on redBus! Redeem it at www.redbus.com/referral/redwhkdp//1001
At first glance, DAI and MakerDAO are a lot of acronyms and lingo that can be slightly intimidating. Anyone can become informed and participate. Dive in as much or as little as you want. Learn to buy, save, or beyond. The secret to knowing DAI (or faking it until finding an answer) is found in the Awesome MakerDAO Community Resource Guide. Still have questions? Want to get involved? Visit the MakerDAO Community Forum and ask. The community is made of interested people like yourself, and Community Leaders from MakerDAO. Share your skills in growing the MakerDAO Community, no experience necessary. The MakerDAO culture is very warm, welcoming, and ready to help. We would love to meet you!
The following polls ran from February 10 - 13, 2020 with voting results identical to the current set values, therefore they were not part of the Executive Vote this week. Follow the link for more details:
You are invited to join us and help shape the future of MakerDAO. Every Thursday, 17:00 UTC Governance and Risk Meeting Community Guide * Understand the issues that are discussed and governance themes that get explored to build a healthy, secure, Maker Platform. * Get info on how to connect by phone or webcam. * Explore meeting archives.
Weekly Community Development Meeting - Tuesdays 09:00 PST
Weekly Governance and Risk Meeting - Thursdays 09:00 PST
How to Purchase DAI with Cash in the U.S. (No Bank Account, Credit Card, or Debit Card Required)
Maybe you have visited the coinstar machine in the grocery store when cashing in your stockpiles of change, or just seen them when checking out. These kiosks now offer the ability to buy Bitcoin with cash. You can easily turn that into DAI and lock in an amazing savings rate on the Oasis DeFi platform by MakerDAO.
Open a Coinbase account and complete the 'know your customer requirements'
Purchase Bitcoin from the Coinstar Kiosk using cash. A voucher will be printed that you can redeem online
Use a Coinbase receive address for Bitcoin when redeeming your voucher
When the Bitcoin has posted to your Coinbase account, select Trade to turn your Bitcoin into DAI (Specify an amount or choose the maximum amount to exchange all Bitcoin)
Send your DAI to a Web3 capable wallet such as Metamask or Coinbase Wallet and head to Oasis
Click 'Save' and follow the prompts to lock your DAI into an amazing savings interest rate, that not even your mom's credit union could match!
List of Physical Stores where you can Buy or Sell bitcoin
There are a number of foreign currency exchanges and other places where there's a "storefront"/branch and an actual teller or other staff where you can just walk up and do a bitcoin buy and/or sell. But I don't think there's ever been a list of them compiled. Lots of location discoveries get shared on social media, like this one, bu there is just no comprehensive list anywhere. So that's what I'ld like to do here. If you know of a location please comment with the name or some details. Physical stores and Trading Spaces Europe, Middle East, and Africa:
Rebiton, the easy way to buy bitcoin - no ID required!
Hello world! We are Rebiton! A Lithuanian startup based company that is in love with Bitcoin. We are here to play a role in making Bitcoin easily accessible for all. Simple buying process, only need an email and a phone number, no ID required! Read more about us, thread:
Rebiton is on a mission to sell bitcoin for fiat money without going through a cumbersome and intrusive purchase process. Rebiton is the easy way to buy Bitcoin. No ID required.
Rebiton sells digital vouchers worth between 50euros and 999euros. Vouchers are valid for 6 months and are redeemable for bitcoin $btc at any time.The vouchers are also available in physical stores in Lithuania.
Rebiton is incorporated in the EU and fully compliant with KYC/AML laws. You can only buy up to 999 euros of vouchers per day through bank transfers.
Rebiton applies an exchange rate that is 5% higher than on exchanges trading platforms. No extra or hidden fees.
Rebiton is going to evolve over the months to become an even simpler platform, a non-custodial solution, and a multi-payments service model. There is one thing that is going to stay unchanged: our mission to make Bitcoin, the best sound money ever created, accessible for all.
To sump up, you can buy your daily dose of Bitcoin through Rebiton in a couple of clicks, without going through a complicated registration process and without giving away your personal data. Give it a try and let us know your feedback! Any questions, our DM are opened! #bitcoin#btc #buybitcoin #bitcoinonly
Payment options for Canadian performers and sellers
So this question comes up a lot and I thought it was worth making a separate post about it to try and get all the information in one place. While there are many great resources on the various camming and selling subreddits regarding payment options, none of them are specific to Canadian sellers as far as I know. Please make sure you familiarize yourself with those, though, because they have information about the safety of your money and your identity/privacy when using each service. Transparency Statement Apps and services I have personally used will be indicated within. I also want to note that I was given a $10 Polyalpha gift card by a fellow Redditor and seller for a chance to try the service (it was a public offer given in a comment thread). I do not anticipate bias because of this, but it has given me information about the service that I would not have otherwise had. Disclaimer This post is for information purposes only and nothing I say should be construed as an endorsement. Similarly, the focus of this post is on payment options for Canadian models. There are a lot more things to consider as you do your research, so please keep in mind that this is not intended to be a comprehensive resource and take the time to double-check how each works when it comes to personal safety and anonymity in particular. I have broken this down into two tables – one for third-party apps that Canadians can use to receive direct payment from individual buyers, and one that gives the lowdown on getting paid from various content/cam sites. Note that many of the options in Table 2 are also payment processors or can be used as such. Table 1. Third-party apps for receiving direct payment. >>Options in bold require that you have a US-based checking account<< See next section for more information.
Currency options for receiving payment
Payment options for buyers
EUR, GBP, USD
Must have Paxum
Prepaid card; to US bank account
Poor quality info online; nonexistent customer service
ePayments - I did not include this here for a couple of reasons. One, they can no longer process payments in USD. Two, their verification process, app, and customer service were super frustrating. Three, it's still not clear to me if I can accept crypto payments here or if I could only pay myself in crypto out of an existing wallet and use ePayments for currency exchange. I've seen other sellers indicate ePayments as a payment method so maybe someone else could provide additional info in the comments.
Payoneer - Omitted due to absurd restrictions and fees. a) For example, your billing address has to match the national currency you are using for your withdrawal currency, meaning your billing address would have to be in the US in order to withdraw in USD. That means that a Canadian model with a US-based account wouldn't be able to set up withdrawals into their US account. b) Fees are quite high, especially considering most other options are free.
PolyAlpha – The website only shows PayPal as a payment option to buy the gift vouchers but both PayPal and CashApp were indicated in a Reddit comment from someone involved with the service
CashApp, Venmo, and Square Cash – some Redditors have indicated that it’s possible to register for these services if you are using a VPN. CashApp, for example, has transaction maximums for unverified accounts of $1000/month and $250/week, so as long as you are below these amounts then you wouldn't have to verify a US address. I can’t attest to this but wanted to mention it as a potential option for those with a US-based bank account.
Processing times – I left these out in the interests of having a read-able table but they are not all instant. In general, most are within one day or less except direct deposit from GiftRocket. Please research the source links for more information. Also note that processing times at US banks seem to be much slower than what we are used to – just a heads up.
Opening a US Checking Account To my knowledge, TD and RBC are the only banks where this is possible. In order to take advantage of the payment options I’ve identified in bold in Table 1 and Table 2, it is imperative that you open a US-based checking account and not just a USD account through your home branch. The difference is that a US-based checking account is tied to a branch that has a physical location in the US. I opened mine through RBC and it was relatively painless. I opened a Canadian checking account online but had to go to a branch to provide ID verification. This is required in order to open the US account. Next I called them to open the US-based account. You can do this at any branch as well, but I was told that it takes longer to open this way. Over the phone, it was instant. My accounts are linked through my online banking portal and RBC banking app, allowing me to transfer myself money easily and instantly. They also sent me a Visa Debit for my US account, which took about two weeks to arrive. Table 2. Payment methods for Canadian sellers and performers on various cam/content sites. I have omitted all instances of wire transfers (because they are slow, expensive, and usually have high payout minimums) and all instances of cheques (because they are slow). I have omitted all mention of ePayments because they no longer accept payments in USD.
Certain types of information were omitted for the sake of brevity. Of particular interest may be payout percentages, payout procedures, and payout intervals.
TL;DR Get a US-based bank account, Paxum, and Shakepay. I am open to questions, comments, and concerns! I would like this resource to be as tight as possible so be sure to let me know if you see any issues or gaps.
Why Do You Need to Buy Bitcoin Crypto Voucher or Gift cards?
Bitcoin Vouchers are a simple way to buy bitcoin, a type of cryptocurrency. It is one of the easiest ways to hold the bitcoin and can be redeemed at any time when you find the desired exchange rate. Due to the decentralized nature and security feature, the mechanism is rapid. There is a push in the global economy for the use of digital currencies such as bitcoin. The world is moving towards a paperless economy. Over the last couple of years, the digital market has gained value in the public eye. There is increasing familiarity with the pace of rising of the cryptocurrency in the digital market. Cryptocurrencies are digital money or digital cash encrypted and created as coins or tokens. It is monitored by a peer to peer connection and is free from government intervention. These use a string of data encrypted with a specified unit of currency. https://preview.redd.it/jgrgg08qwo731.png?width=269&format=png&auto=webp&s=7918a4ae59730881cf9c29f01c6df27460efa0ca Bitcoin popularly called as BTC is the first-ever cryptocurrency introduced in 2009. Bitcoin uses blockchain technology and cryptography techniques to safely and securely maintain the transaction online. It is one of the most popularly used cryptocurrencies globally. The blockchain technology used in bitcoin manages the database that records all the transactions. There is no central authority and the bitcoin is managed over the network using peer-to-peer technology. Recently major companies and banks globally have started investing in bitcoin. This has enabled companies to change the way they look at digital currency and transactions. You can buy Bitcoin Voucher Gift Card 10 eur key at scdkey.com. These are the easiest and convenient way to invest in bitcoin. They have a very low transaction fee and provide a completely secure method to make transactions. Once you obtain the voucher, you will receive a code to activate the voucher card within the stated time period. The Bitcoin Gift Card 10 EUR is redeemable to the bitcoin wallet easily and quickly. You need to activate the serial code at the website and the equivalent amount of currency will be transferred to your bitcoin wallet linked with the voucher. The easiest way to buy cryptocurrency is to use an easy and quick method of Crypto Voucher. Bitcoin voucher 25 EUR key can be used to redeem bitcoin from a gift card. It is the easiest way to get bitcoins. All you have to do is buy the voucher from scdkey.com by entering the details required and enter the alphanumeric code and pick the cryptocurrency like Bitcoin. You can redeem the voucher anytime within the specified period and get the exchange value of the bitcoin to the linked bitcoin wallet. Bitcoin vouchersgift cards can also be used as a present. There are available at as low as 10 euro and 25 euro. This is an easy way as people may or may not know how bitcoin works but they surely know how to use and redeem a gift card.
For those who don't know, Coinstar kiosks are those machines available in a lot of grocery stores in the US (e.g. Safeway), and recently, they added support to exchange cash for Bitcoin: https://www.coinstar.com/bitcoin I wanted to try it to see what it entails, here's what you need to do:
This link-packed ebook is intended for people looking for the best-kept secrets on the web for buying bulk Amazon, Walmart, Best Buy and other national brand gift cards at the highest discounts—accounting for speed, quality, volume and risk. Executive Summary
Buy gift cards on marketplaces
Buy gift cards with bitcoin
Fill out online surveys for gift cards
Buy directly with people online
Buy directly with people offline
Arbitrage gift cards on Amazon
Swap other gift cards for Amazon
Buy gift cards from retail stores
Earn gift cards for online work
Daily deals websites
This article covers some of the many ways to buy discount gift cards. We focus a lot of attention on Amazon gift cards since they are the largest retailer in the world and has the 2nd most gift cards in circulation. We have either purchased or researched in depth most of the sites on this list to come up with some conclusions about the fastest, safest and cheapest places to buy discount gift cards. Please remember, there is no one best place to find gift cards, the goal is to give you options. The lowest-risk gift cards with the lowest discounts are directly from that brand and at grocery stores and other retail locations (CVS, Safeway, Walgreens, etc). You will also find these 0% offers from 3rd party e-code generators like eGifter and BitPay. You can usually buy instantly and they are guaranteed forever. Slightly higher risk are the old-school secondhand gift card exchanges like CardCash, CardPool, Raise and others. They offer very small savings up to 5% off the top brands. You can pay with a credit card and they guarantee the card for up to a full year so you can gift them as gifts much easily. The highest discounted gift cards are on peer-to-peer bitcoin marketplaces with users from many different countries, like Paxful and LocalBitcoins. This also comes with the most risk and the highest amount of work. These platforms have lower regulation and majority of the trades are conducted in non-USD currency. Finally, there is an emerging category of crypto gift card exchanges that also use bitcoin to offer the same discounts as peer-to-peer marketplaces, but they have more advanced protections in place for buyers and sellers. Sites like Redeeem and Purse.io fall into this category because they can offer larger discounts on gift cards and other products but they use technology to cut out the negotiating. Cards are guaranteed for minutes, hours or days here, so this isn’t the best for gifting. Your savings (and profit margins) will depend largely on your risk tolerance, length of time you are willing to get paid, country where you are located, capital available, ability to buy alternative forms of currency (like bitcoin), the ability/willingness to ship physical products, overall time commitment, and many other factors.
1. Buy gift cards on marketplaces
Redeeem. Save 15% or more on bulk Amazon, Walmart and Best Buy gift cards with auction-style pricing buying with bitcoin. They have great support and great reviews. CardPool. Save 3-5% on hundreds of brands, including Best Buy, Target, iTunes and Lowe’s. They send the card directly to your email inbox or via USPS in 3-7 days. CardCash. Gift card marketplace that buys unwanted gift cards for less than their value and resells them at a discount to savvy shoppers across the country. Save 3-5% on hundreds of brands, very similar to CardPool. Gift Card Granny. This is a nice resource because they link to the sites that have the best deals, unfortunately they don’t index many of the bulk discount sites. Raise. One of the biggest in terms of volume. Discounted gift cards to hundreds of national brands such as Target, Southwest, Uber, Home Depot, etc. However, discounts are minimal here, ranging from 0-3%. CardCookie. A great site with great potential—currently offering 5-10% discounts but not very high volume yet. Keep them bookmarked.
2. Buy gift cards with bitcoin
Redeeem. Redeeem is a great option for buying Amazon gift cards at 20% discount or higher using bitcoin. Unlike Paxful or LocalBitcoins, they manually validate and guarantee every gift card sold on the platform and have an easier buying experience. But you will have to trade during market hours (they are only open 8 hours a day). BitPay. Raised over $72 million from investors, they’re the largest bitcoin payment processor. Download the app to buy Amazon e-codes fast at 0% discount. Paxful. With 300+ currencies to trade, Paxful’s peer-to-peer platform with millions of users in Africa offers likely the best discounts for gift cards, but there are a lot of scammers (and yelling) so be careful. You may find yourself with a lot of stolen/invalid cards and trade disputes with money at risk. LocalBitcoins. LocalBitcoins lets you buy and sell bitcoin in over 248 countries. Like Paxful, this comes with high risk and high reward. Every trade starts with a listing, similar to Craigslist, and the platform is strictly peer-to-peer. Purse. Save 10% or more on Amazon when you pay with bitcoin, or dropship products (including gift cards) to people to earn bitcoin. CardBazaar. An online secondhand gift card marketplace where you can buy and sell unwanted gift cards for cash or bitcoin. Bidali. A bitcoin payment processor that competes with BitPay and offers full-priced e-codes from Amazon and other retailers. eGifter. One of the best way to buy eGift cards quickly for friends, family and yourself without hassle. Choose from hundreds of top national brands. You can personalize your gift with an animated greeting card, photo or video greeting.
3. Fill out online surveys for gift cards
Survey Junkie. offers a massive inventory of paid surveys. Each survey is assigned a point value (most between 100-200 points) and estimated completion time. Once you accrue 1,000 points (around $10) you can cash out with a gift card. Beer Money on Reddit. This a Reddit group dedicated to making some cash on the side. Don’t know much about it. PointClub Surveys. You can earn points for completing paid online surveys. When you have enough points, you can redeem them for cash or the gift card of your choice. Gift cards can either be digital or real cards sent to you. It's that easy! OpinionOutpost. You can earn cash and rewards for the time you spend taking online surveys with points you can redeem for cash or gift vouchers to popular brands.
4. Buy directly with people online
Reddit. Reddit is used by a ton of gift card traders, but you have to be familiar with the platform and have some karma on there before using it seriously. Otherwise, your listings will just get filtered out by their algorithms. If you go in there moving quickly without reading their rules carefully you will likely get banned.
5. Buy directly from people offline
Craigslist. As you probably know, you can get anything on Craigslist. But like Paxful and LocalBitcoins, it requires a lot of negotiating and there are scammers galore. The only deals worth doing are small volume with trusted local partners. Facebook Marketplace. Although this wouldn’t be my first choice due to the randomness, there are a lot of gift cards on Facebook Marketplace—a growing platform. eBay. Older than time itself, eBay earns millions of dollars a day in gift card volume. They are fairly warm to buying and selling physical gift cards but they are cracking down on e-codes. The downsides here are shipping costs and eBay/PayPal fees which add up to over 10%. There are also a lot of international buyers on eBay taking advantage of currency exchanges, which inflates prices of gift cards above their face value. It’s an expensive place to find gift cards—but always there.
6. Arbitrage gift cards on Amazon
Amazon is unique in a lot of ways. One way in particular is that they let you buy other brands of physical gift cards with your Amazon credit balance—such as Nordstrom, Southwest, Nike, Starbucks, Google Play, iTunes, Best Buy, Lowe’s, Sephora, Hotels.com and dozens more. This opens the door for people to buy gift cards on Amazon and then sell them to CardCash, CardPool, Raise, Paxful, Reddit, LocalBitcoins, Redeeem, etc. The risk, believe it or not, is that Amazon loves shutting down people’s accounts with gift card balances frozen inside. So don't let your balances get too high and try to mimic normal behavior that doesn’t make you look like a large dropshipping business (e.g. ship to yourself, buy other products too, have a real phone number and billing address on file, etc). There are also hard quantity limits on how many gift cards you can buy for each SKU on Amazon. Your profit margin will depend on how you get Amazon credits, your ability to keep your Amazon accounts in good health, and the rate at which you sell your cards to gift card marketplaces (some let you choose your own rate, others have fixed rates), and the speed and method you want to get paid (check, ACH, bitcoin, PayPal, etc).
7. Swap other gift cards for Amazon
CardCash Amazon Exchange. This is a cool resource that CardCash built alongside Amazon to allow customers to swap out other national brands for Amazon e-codes for a small fee. The rates are comparable to what they have on the main CardCash website and the e-codes are delivered within 24 hours. It’s a cool way to jump from one brand to another if you want Amazon gift cards in particular and have another.
8. Buy gift cards from retail stores
Retail Stores. There are hundreds of physical retail store locations where you can buy physical gift cards in person (the link points to Amazon retail locations). You pay full retail price but it’s fast, safe and reliable—and you can earn 3-5% cash back with certain credit cards like Amazon Prime card.
9. Earn gift cards for online work
Mechanical Turks. Amazon Mechanical Turk (MTurk) is a crowdsourcing marketplace that makes it easier for individuals and businesses to outsource their processes and jobs. This will require a lot of work, but you can get paid in Amazon gift cards. Swagbucks. You can redeem a Amazon Gift Cards by using the Swagbucks you earn through playing, searching, discovering, answering, watching or shopping on websites that are trying to sell you things. Not very profitable but can be fun.
10. Daily deals websites
Groupon. Although not as popular as when it first launched in 2009, Groupon is still used by millions of people to get discounts on stores, experiences and even gift cards like Amazon, Walmart and Best Buy. There is also a gift certificate category that has similar offers (sorry, we couldn’t find anything similar on Living Social). Amazon Daily Deals. Amazon has daily deals on many categories of products as high as 20% discount. On some occasions they will slash prices on gift cards. Amazon Treasure Truck. Amazon has a Treasure Truck that they drive around many of their Whole Foods locations they use to promote Amazon Video shows and offer 10% discount deals on food, clothing and tech. Gift Cards.me. Simple app, good reviews, worth a try. The discounts aren’t very spectacular, but they claim to have fast gift card delivery. Nimble Commerce. Not sure how long they’ll be around, but worth a shot.
On the back of your gift cards, check all the stores where that brand is accepted. For example, gift cards for Gap also work at Old Navy, Banana Republic, Athleta and Piper Lime. Walmart gift cards work at Sam’s Club, Amazon gift cards work at Whole Foods, and Albertsons gift cards work at Safeway, Vons and a dozen other grocery store chains in the same family. Make sure you know these sister-company store policies before you buy a brand. One limitation you may find with many stores like Amazon, Walmart and Best Buy is that they have per-product purchase limits. Obviously you can create new accounts or ask friends and family to buy products for you, but some products have gift cards under many different SKU numbers—like a Christmas and Birthday version. There are also limits set for each of these individual items, not the gift card category as a whole. Finally, based on the U.S. government regulations, the maximum amount of gift cards that can be purchased in a 24 hour period by a single person $10,000. So please keep this in mind when you are out there shopping. Good luck, be honest, and happy trading! Bonus Resources
London Bitcoiners - Buy The Dip With No KYC/AML/ID - Azteco, Kapucin Cafe, Richmond.
So a couple of weeks ago i was the first customer to buy Bitcoin using the Azteco top up voucher system that's found it's first full time vendor in Kapucin Cafe, Richmond, and documented it in this post - https://www.reddit.com/Bitcoin/comments/d2s7jo/buying_bitcoin_with_azteco_topup_voucher_in/?utm_source=share&utm_medium=web2x I went back to buy the dip this week, and once again enjoyed being able to pay cash to receive a top up voucher that can be easily redeemed for BTC. I can only reiterate how quick and easy the service is to use, and at 4% commission on sales it's cheaper than ATM's, and comes with no KYC/AML/ID requirements so you're not paying the even greater price of surrendering your personal identity information as you would on exchanges or escrow services like Localbitcoins. Here's Kapucin's 'contact us' details - drop in and make use of this excellent way to accumulate - the owner Vlad is a cool guy and mentioned that if there is sufficient interest he may host a meet up space for Bitcoiners in the cafe in the near future. https://www.kapucin.co.uk/contactus Azteco FTW!
Buying Bitcoin with Azteco topup voucher in Richmond, London, UK - September 11th 2019.
https://preview.redd.it/orumv75oj1m31.jpg?width=750&format=pjpg&auto=webp&s=b86b437f1fb2e148e027155aadb1bbdd29158dca I recently saw these tweets by Azteco - https://twitter.com/Azteco_/status/1164813713607540736?s=20 https://twitter.com/Azteco_/status/1169243215070937090?s=20 announcing their first full time vendor at Kapucin coffee shop in Richmond, London, https://www.kapucin.co.uk/contactus so i hopped on a train to check it out. It's a cool place, friendly staff, jazz playing, that type of thing, and i met the manager when i asked at the counter for an Azteco voucher. He pulled out a POS terminal, like the one in this video - https://twitter.com/Beautyon_/status/1092371869804699648?s=20 and explained that he's only just begun using the system, and was still getting used to it, and the basics of how he acts as vendor - ( it seems he's one of the Pay As You Go type vendors they have been recruiting ). I mentioned that although i was familiar with the Azteco concept of Bitcoin as a topup, i was curious to see how things worked, and we sat down to make the sale. The whole process was quick, and smooth - i told him how much i wanted to spend in GBP, and he showed me how much that was in BTC on the POS terminal - ( he wasn't sure how this rate was arrived at when i asked - i'm presuming an average over x no. of exchanges ? ). There's a 4% commission on sales. In his case, he accepts purchases from £5 up to £1000, although he did mention that moving forward there were plans to be able to organise larger purchases based around bank transfers. I'm nowhere near that rich so i opted for a smaller first time amount which i handed over in cash as the voucher printed out - i won't say how much, but a little bit more than £5... It turns out that i was the first customer for the service at this outlet - dunno if it's the first sale in the UK, but felt fantastic to be doing it. Buying Bitcoin, in around a minute, as a topup, paid in cash, no KYC/AML/ID nonsense - superb! Redeeming the Bitcoin is simple too - go to the Azteco portal - https://azte.co/ type in the 16 digit redeem code, provide an address, check the captcha, and it's yours. Kudos to the Azteco team, and the Kapucin staff, i'll definitely be going back. https://preview.redd.it/krb6ixxpn1m31.png?width=1364&format=png&auto=webp&s=31133a26590d3b614c84c9479b90a72a74090876
Paysafecard vouchers exchange instantly:https://ukash-wallet.com/to PayPal, Skrill, Perfect Money, Webmoney, Bitcoin, Litecoin, Ethereum, Dash. Paysafecard vouchers and Bitcoin / Litecoin / Ethereum/ Dash exchange instantly: We accept pre-paid vouchers of Paysafecard for an exchange to digital currencies of payment systems PayPal, Perfect Money, Skrill, Webmoney and cryptocurrency Bitcoin, Litecoin, Ethereum, Dash. On our website you can convert the Paysafecard codes on electronic money at any time. We sell digital currency with Paysafecard 24 hours a day, 7 days a week. We accept Paysafecard from the following countries: United Kingdom, Australia, Belgique / Belgium, Canada, Česko / Czech Republic, Danmark / Denmark, Deutschland / Germany, Éire / Ireland, España / Spain, France, Hrvatska / Croatia, Italia / Italy, Latvija / Latvia, Lietuva / Lithuania, Luxemburg / Luxembourg, Magyarország / Hungary, Malta, Nederland / Netherlands, Norge / Norway, Österreich / Austria, Polska / Poland, Portugal, România / Romania, Schweiz / Switzerland, Slovenija / Slovenia, Slovensko / Slovakia, Suomi / Finland, Sverige / Sweden, United States, Κύπρος / Kıbrıs / Cyprus, Kuwait, Mexico, United Arab Emirates, Saudi Arabia, الكويت / Kuwait. You can redeem instantly: Paysafecard EUR, Paysafecard GBP (British Pound Sterling), Paysafecard USD (United States Dollar), Paysafecard AUD (Australian Dollar), Paysafecard CAD (Canadian Dollar), Paysafecard CHF (Swiss Franc), Paysafecard NZD (New Zealand Dollar), Paysafecard CZK (Czech Koruna), Paysafecard DKK (Danish Krone), Paysafecard HUF (Hungarian Forint), Paysafecard NOK (Norwegian Krone), Paysafecard PLN (Polish Zloty), Paysafecard RON (Romanian Leu), Paysafecard SEK (Swedish Krona), Paysafecard KWD (Kuwaiti Dinar), Paysafecard MXN (Mexican Peso). Paysafecard to PayPal GBP, PayPal EUR, PayPal USD Paysafecard to Perfect Money EUR, Perfect Money USD Paysafecard to Skrill EUR, Skrill USD Paysafecard to Webmoney WME, Webmoney WMZ Paysafecard to cryptocurrency Bitcoin, Litecoin, Ethereum, Dash We accept minimum: 20 Paysafecard GBP/EUUSD/KWD, 25 Paysafecard AUD/CAD/CHF/NZD, 100 Paysafecard PLN/RON, 200 Paysafecard DKK/HRK/NOK/SEK, 500 Paysafecard CZK, 5000 Paysafecard HUF. Now you can exchange or transfer your money instantly from Bitcoin Litecoin, Ethereum, Dash and Paysafecard with our lowest fees. Want to Top Up your PayPal, Perfect Money, Skrill, Webmoney, Bitcoin, Litecoin, Dash or Ethereum account? You can top up / recharge your PayPal, Perfect Money, Skrill, Webmoney, Bitcoin, Litecoin, Dash or Ethereum account / wallet through Paysafecard voucher. Instant exchange pre-paid vouchers Paysafecard and cryptocurrency Bitcoin, Litecoin, Ethereum, Dash for electronic money international payment systems. We accept Bitcoin cryptocurrency for an exchange to digital currencies of payment systems PayPal, Perfect Money, Skrill, Webmoney. On our website you can convert the Bitcoin to electronic money at any time. We offer the best exchange rates Bitcoin. You can instantly recharge PayPal with Bitcoin (BTC), Perfect Money with Bitcoin (BTC), Skrill via Bitcoin (BTC), Webmoney via Bitcoin (BTC). You can purchase PayPal using Bitcoin, Skrill (Moneybookers) using Bitcoin, Perfect Money using Bitcoin, Webmoney using Bitcoin. We accept Litecoin cryptocurrency for an exchange to digital currencies of payment systems PayPal, Perfect Money, Skrill, Webmoney. On our website you can convert the Litecoin to electronic money at any time. We offer the best exchange rates Litecoin. You can instantly recharge PayPal via Litecoin (LTC), Perfect Money via Litecoin (LTC), Skrill via Litecoin (LTC), Webmoney via Litecoin (LTC). You can purchase PayPal using Litecoin, Skrill (Moneybookers) using Litecoin, Perfect Money using Litecoin, Webmoney using Litecoin. We accept Ethereum (ETH) cryptocurrency for an exchange to digital currencies of payment systems PayPal, Perfect Money, Skrill, Webmoney. On our website you can convert the Ethereum on electronic money at any time. We offer the best exchange rates Ethereum. You can instantly recharge PayPal via Ethereum (ETH), Perfect Money via Ethereum (ETH), Skrill via Ethereum (ETH), Webmoney via Ethereum (ETH). You can purchase PayPal using Ethereum, Skrill (Moneybookers) using Ethereum, Perfect Money using Ethereum, Webmoney using Ethereum. We accept Dash cryptocurrency for an exchange to digital currencies of payment systems PayPal, Perfect Money, Skrill, Webmoney. On our website you can convert the Dash to electronic money at any time. We offer the best exchange rates Dash. You can instantly recharge PayPal via Dash (DASH), Perfect Money via Dash (DASH), Skrill via Dash (DASH), Webmoney via Dash (DASH). You can purchase PayPal using Dash, Skrill (Moneybookers) using Dash, Perfect Money using Dash, Webmoney using Dash.
Dynamics Of The Double-Token Chimpion (CHIMP) powers our merchant storefronts and e-commerce ecosystem. It is the abundance incentive to locally available merchants in an effort to drive selection. CHIMP will likewise be the base currency denomination in the Chimpion Store, which will feature exclusive apparel product internally, offering gift vouchers from significant retailers and merchants from the Chimpion directory. Banana Token (NANA) is the reward layer of the Chimpion ecosystem. NANA is earned through purchases from Chimpion merchants utilizing CHIMP or some other cryptocurrency. NANA capacities like focuses on a loyalty card, which can be redeemed for limited time offers, limits, and exclusive items. Requirements For Coin Chimpion is hosted on the EOS blockchain utilizing Delegated Proof-of-Stake (DPoS). DPoiS, a method invented by Dan Larimer which resolves a large number of the problems seen in Proof-of-Work (PoW) and Proof-of-Stake (PoS) systems. In a DPoS system, a technological democracy is created by a network of square producers and staked users that agree to a certain set of rules. DPoS and PoS are two different protocols; in a PoS system, every wallet that contains coins can participate in process of approving exchanges and framing consensus, in this way the more coins in your wallet, the more coins you will eventually receive. With DPoS system every wallet that contains coins can vote for representatives. These representatives validate exchanges and frame consensus and are paid for their efforts through the system. This kind of removes the trap of PoS, which is that much the same as in PoW, the combination will obviously and eventually, happen. BENEFITS OF CHIMPION Vendors *For the dealers, There is access to clients only holding and effectively exchanging cryptographic money *The platform gives serious backings to improve the search engine optimization SEO *Interestingly it eradicates and mitigates against chargeback attack and fraud. https://preview.redd.it/ff70hyp8hub21.jpg?width=975&format=pjpg&auto=webp&s=22055b240268f6129fbf7c98ad6d997c9cd884c4 FOR THE CUSTOMER: *Capitalize on exceptional returns by means of obtaining genuine items, rather than the issues associated with executing coins for Bitcoin, pulling back Bitcoin to a crypto-to-fiat trade, moving it for fiat, and exchanging fiat to their ledger which is cumbersome. *Exclusive access to vendors anywhere in the globe. *A brilliant prospect to procure NANA Tokens through exceptional loyalty. For more insight about the project, please click on the links below: Website: https://www.chimpion.io/ Bounty0x Username: anddyy
Vendors *For the dealers, There is access to clients only holding and effectively exchanging cryptographic money *The platform give serious backings to improve the search engine optimization SEO *Interestingly it eradicates and mitigates against chargeback attack and fraud. FOR THE CUSTOMER: *Capitalize on exceptional returns by means of obtaining genuine items, rather than the issues associated with executing coins for Bitcoin, pulling back Bitcoin to a crypto-to-fiat trade, moving it for fiat, and exchanging fiat to their ledger which is cumbersome. *Exclusive access to vendors anywhere in the globe. *A brilliant prospect to procure NANA Tokens through exceptional loyalty. https://preview.redd.it/l6q0ubat3mc21.png?width=284&format=png&auto=webp&s=bf9ef215627788ad5d1e4ec39235e0c150bd13c9 Dynamics Of The Double-Token Chimpion (CHIMP) powers our merchant storefronts and e-commerce ecosystem. It is the abundance incentive to locally available merchants in an effort to drive selection. CHIMP will likewise be the base currency denomination in the Chimpion Store, which will feature exclusive apparel product internally, offering gift vouchers from significant retailers and merchants from the Chimpion directory. Banana Token (NANA) is the reward layer of the Chimpion ecosystem. NANA is earned through purchases from Chimpion merchants utilizing CHIMP or some other cryptocurrency. NANA capacities like focuses on a loyalty card, which can be redeemed for limited time offers, limits, and exclusive items. CHIMPION TOKEN DETAILS Dual-token Powered System Champion platform adopted dual-token system with each of them having its own amazing usage in the system. The first token name is Chimpion (CHIMP) the sole aim of this is to power merchant storefronts and e-commerce ecosystem. This token will also stand as the native currency in the Chimpion store which will includes their exclusive apparel product line with gift cards from major retailers and merchants from the directory of Chimpion. This is incredible? Champion platform second token is the Banana token (Bnana) which is the reward layer of Chimpion ecosystem. Buyers have assurance of buying and earning Bnana by buying merchants in Chimpion platform using the CHIMP token. Bnana stands as the loyalty rewards token for the platform. Bnana token is trading already on Mercatox exchange and you can get to buy it. VISIT THE OFFICIAL SITE FOR MORE INFO https://www.chimpion.io/ https://www.chimpion.io/whitepape Bounty0x Username: bl3zzy
Welcome to r/PlayChip, feel free to check our ICO FAQ
Welcome to all our new subscribers, please feel free to review our FAQ. If you have any questions for the mod team don't hesitate to message us. ICO BASICS What is an ICO? An initial coin offering (ICO) is a means of crowdfunding in crypto assets. A quantity of the crowdfunded asset is allocated to purchasers in the form of Utility Tokens. Utility Tokens offered before an ICO are usually available at a discounted rate to reward early purchasers. These tokens become functional units of currency after the ICO is completed. What is a Whitepaper? A document that entails what you need to know about the cryptocurrency before making up your mind if you want to purchase it. This includes commercial, technological and financial details in language that can be understood by someone who is not an expert in the space. What are Utility Tokens? Utility Tokens are a crypto asset which is specifically designed to be exchanged for goods and services. What are cryptocurrency exchanges? Cryptocurrency exchanges are websites where you can buy, sell or exchange cryptocurrencies for other digital assets or traditional fiat currencies like USD or AUD. What is fiat? Fiat currency refers to standard national currencies in use today for goods and services. USD and AUD are examples of fiat currencies. What is Ethereum and ERC-20 tokens? Ethereum is the second largest crypto asset in the world. Ethereum provides a decentralized and open-source architecture for other DAPPs (decentralized applications) to be built upon. The PlayChip is an ERC-20 token, meaning it is built on the Ethereum blockchain. GENERAL What is the PlayChip and what can I do with it? The PlayChip (PLA) is a utility token built on the Ethereum blockchain. The PlayChips’ goal is to become the global currency of the gaming industry, starting with the PlayUp ecosystem and its related gaming businesses. It can be used to place bets and enter challenges, as reward points in the PlayUp store, and can be traded for fiat and other cryptocurrencies via partnered exchanges. How do I buy PlayChips? You can purchase PlayChips through the ICO website (playup.com/ico). Pre-ICO discount is 50%. We accept payment via USD, AUD, Ethereum (ETH) and Bitcoin (BTC). When will I receive my PlayChips? Once the PlayChips have been created at the token generation event (ICO) they will be transferred to your wallet. When is the PlayChip going to be on an exchange? We are finalising discussions with multiple exchanges and will announce these (prior to the launch of the) after the ICO finishes. Are PlayChip tokens instantly transferrable? As with all crypto assets, the PlayChip will be instantly transferrable at the start of the ICO period. Until then, your PlayChips will be stored in your PlayChip account. To login to your account go to https://tokensale.playup.com/login. Where will you store my PlayChips? We will store the amount of PlayChips you have purchased in our account until the start of the ICO when the generation event will occur. Once the tokens are created they will be delivered to the wallet address you have supplied. As the PlayChip is an ERC-20 token, this must be an Ethereum wallet address. If you have not supplied a wallet address you can update this via the ICO website. How do I keep my PlayChips secure? Your PlayChips can be stored securely within your PlayUp account, however, should you have any concerns regarding centralisation and prefer to store your PlayChips on a private wallet then you will need a compatible ERC-20 wallet. We recommend metamask (https://metamask.io/) or Myetherwallet (https://www.myetherwallet.com) and the use of a hardware wallet to secure these accounts. What is the maximum funding level (hard cap)? We aim to raise USD $50Million. (Liam’s calculations 24/4 is $141,200,000.) What is the minimum funding level (soft cap)? The minimum is USD $3Million. (Liam’s calculations 24/4 is $26,399,000.) What happens if the minimum is not met? We have already surpassed the minimum raise. USD$3 million was raised in February 2018. What affects a Tokens value? A number of factors can influence the value of each token, including validity of project and business model, market behaviours and day trading. Like anything in the business world, cryptocurrencies can not sustain long term value without a viable business model behind it. Always perform your own due diligence through trusted sources before investing. How many PlayChips tokens will be created and will more be created later? The total PlayChips generated will be 100,000,000,000. The circulating supply will be 40,000,000,000, with the remainder to be placed in cold storage. What is cold storage? Cold storage refers to an offline wallet controlled by PlayUp. This is to be used to manage future acquisitions and company growth. Funds in controlled storage are strictly controlled and cannot be used without signatures from the CEO, a non-executive director, and a third party nominated by at least 75% of PlayUp’s full time staff. How to buy and sell PlayChips Step 1: Purchase your Tokens through the playup ICO website. Step 2: Send your tokens from the ERC compatible wallet to your account with a partnered exchange. Be sure to send them to the Ethereum wallet address in your exchange account. Step 3: Sell your tokens for Ethereum (ETH). Step 4: Convert your Ethereum to another cryptocurrency or fiat. Which exchanges will my PLA appear on? You will be able to trade PLA across a number of major exchanges from June 2018. PlayChip ICO Is there a discount or a bonus during the PlayChip ICO? During our public seed there is 50% discount on PlayChips ($0.005 per token) and further bonuses for bulk purchases which are outlined on our ICO website. Once the hard cap on the public seed is reached it will be followed by the Pre-ICO stage, which carries a 30% discount. When will the PlayChip Launch? We are expecting to launch across multiple exchanges in July 2018, once all tokens have been purchased in the aforementioned stages. When do the sales start and how long with the sale be open? Sales have already commenced, you can follow the ICO’s progress on our website. Why is this a better ICO compared to others? We are an existing business with a proven business model and existing revenues. We have an established user base with over 450,000 active users ready to utilise our token. The centralized PlayChip is already in use with a static value of US$0.01, and is redeemable with third party vouchers from affiliates such as Mastercard, Amazon and Coles. We apply industry leading practices and systems to deliver consumer protection, including “know your customer” (KYC) account verification, underage screening, and “anti-money laundering” (AML). We currently operate a gambling license in Australia, a wagering market recognised as one of the most mature and regulated in the world. As a licensed operator, we will only have to make marginal adjustments to our existing compliance and operational processes to begin operating in any new jurisdiction. Will there be additional Playchips after the ICO? An estimated 14.1 billion PlayChips will be sold and disseminated to their owners post-ICO. Any unsold PlayChips will be placed into cold storage. How will the funds collected during the ICO and pre-ICO be used? 55% marketing 30% technical 6% operations 4% legal and Finance 4% Finance 1% Other What requirements do I need to meet to take part in the ICO? We request contributors to verify themselves in compliance with KYC when participating in the ICO. This means confirming your name, phone number, email address and address. Further documentation may be required to complete full KYC. You will need a compatible ERC wallet in the token generation stage, until then your PlayChips will be stored in the PlayUp user wallet on the PlayUp website.
Can I legally sell Bitcoin, without a MSB license and KYC laws, just as I can sell XYZ widgets? I know I need a business license and to pay taxes!
I'm looking at the state code, and I can't find anything that says I can't, per se... it doesn't seem Bitcoin falls within the verbiage of the laws governing such things since Bitcoin is NOT a currency in the United States. CHAPTER 32A. LAND SALES; FALSE ADVERTISING; ISSUANCE AND SALE OF CHECKS, DRAFTS, MONEY ORDERS, ETC. ARTICLE 2. CHECKS AND MONEY ORDER SALES, MONEY TRANSMISSION SERVICES, TRANSPORTATION AND CURRENCY EXCHANGE. §32A-2-1. Definitions.
(1) "Commissioner" means the Commissioner of Financial Institutions of this state. (2) "Check" or "payment instrument" means any check, traveler's check, draft, money order or other instrument for the transmission or payment of money whether or not the instrument is negotiable. The term does not include a credit card voucher, a letter of credit or any instrument that is redeemable by the issuer in goods or services. (3) "Currency" means a medium of exchange authorized or adopted by a domestic or foreign government. (4) "Currency exchange" means the conversion of the currency of one government into the currency of another government, but does not include the issuance and sale of travelers checks denominated in a foreign currency. Transactions involving the electronic transmission of funds by licensed money transmitters which may permit, but do not require, the recipient to obtain the funds in a foreign currency outside of West Virginia are not currency exchange transactions: Provided, That they are not reportable as currency exchange transactions under federal laws and regulations. (5) "Currency exchange, transportation, transmission business" means a person who is engaging in currency exchange, currency transportation or currency transmission as a service or for profit. (6) **"Currency transmission" or "money transmission" means** engaging in the business of **selling** or **issuing checks or the business of receiving currency**, the payment of **money**, or other value that substitutes for money by any means for the purpose of transmitting, either prior to or after receipt, that currency, payment of money or other value that substitutes for money by wire, facsimile or other electronic means, or through the use of a financial institution, financial intermediary, the Federal Reserve system or other funds transfer network. It includes the transmission of funds through the issuance and sale of stored value**??** or similar **prepaid products' cards** which are intended for general acceptance and used in commercial or consumer transactions. (7) "Currency transportation" means knowingly engaging in the business of physically transporting currency from one location to another in a manner other than by a licensed armored car service exempted under section three of this article. (8) "Licensee" means a person licensed by the commissioner under this article. (9) "Money order" means any instrument for the transmission or payment of money in relation to which the purchaser or remitter appoints or purports to appoint the seller thereof as his or her agent for the receipt, transmission or handling of money, whether the instrument is signed by the seller, the purchaser or remitter or some other person. (10) "Person" means any individual, partnership, association, joint stock association, limited liability company, trust or corporation. (11) "Principal" means a licensee's owner, president, senior officer responsible for the licensee's business, chief financial officer or any other person who performs similar functions or who otherwise controls the conduct of the affairs of a licensee. A person controlling ten percent or more of the voting stock of any corporate applicant is a principal under this provision. §32A-2-2. License required.
Via Black's Law Dictionary, just because I was curious what "money" meant in leagalese, and it appears to only mean currency issued by a government. What is MONEY? A general, indefinite term for the measure and representative of value; currency; the circulating medium ; cash. “Money” is a generic term, and embraces every description of coin or bank-notes recognized by common consent as a representative of value in effecting exchanges of property or payment of debts. Hopson v. Fountain. 5 Humph. (Tenn.) 140. Money is used in a specific and also in a general and more comprehensive sense. In its specific sense, it means what is coined or stamped by public authority, and has its determinate value fixed by governments. In its more comprehensive and general sense, it means wealth. Bitcoin is NOT coined nor stamped by public authority and has no value determined by governments. It sounds like currency is only money if the IMF controlled it's issuance? Also this: http://techcrunch.com/2014/03/25/irs-rules-bitcoin-is-property-not-currency/
Hey crew, recently dropped an app in for a job with Coinbase as a Legal Associate. The job form had originally asked where Coinbase should file for a Money Transmitting License. I decided to research the issue a bit and use it as my cover letter. I'd like to refine it a bit and use it along with some other apps as a writing sample, wanted to get some feed back: There are three scenarios that Coinbase could choose to pursue: 1) Request no-action letters from each state under the theory that Coinbase' activities do not fall within the traditional definitions of a “money transmitter” or fall under one of the state exemptions; 2) File for a MTL in California and Delaware where Coinbase has it principal place and is incorporated, due to the high likelihood of being subject to personal jurisdiction in these states; 3) File for a MTL in all 47 states with legislation on the matter. Under federal law, 18 UCS § 1960, businesses are required to register for a MTL where their activity falls within the state definition of a money transmitter. Under current legislation 47 states require “money transmitters” to register for an MTL. As stated above, Coinbase principal place of business and state of incorporation is California and Delaware respectively. However, Coinbase' services are available to anyone in the United States regardless of their state of residency. This could very likely subject Coinbase to jurisdiction in every state, or at the very least be forced to close operation in states where it does not comply with Anti-Money Laundering (AML) laws. I. Request for No-Action Letter Under the first scenario Coinbase could request a no-action letter from each state where it operates. For example: the California Department of Business Oversight (previously the Department of Financial Institutions) in California. Under this theory Coinbase could provide the following argument that its services do not fall within the State's definition of a money transmitter. California law defines “money transmitters” as any business which engages in the activities of: 1. "selling or issuing payment instruments;" 2. "selling or issuing stored value;" and 3. "receiving money for transmission" Cal. Fin. Code § 2003(o). A. Bitcoin is Not a “Payment Instrument” Under California Law Coinbase does not operate any services under the first prong of “selling or issuing payment instruments” because bitcoin does not fall within the definition of a “payment instrument” under California law. Payment instruments are defined as “a check, draft, money order, traveler's check or other instrument for the transmission or payment of money or monetary value, whether or not negotiable” Cal. Fin. Code § 2003(q). A payment instrument “does not include a credit card voucher, letter of credit, or any instrument that is redeemable by the issuer for goods and services provided by the issuer or its affiliate." Id. Coinbase is not the “issuer” of bitcoin because an issuer within the context of payment instruments is “the entity that is the maker or drawer of the instrument in accordance with the California Commercial Code and is liable for payment” Cal. Fin. Code § 2003(k). Coinbase is not the maker of bitcoin because bitcoins are created by the network itself after a user provides proof of work solving the mathematical algorithm to unlock new bitcoins. Furthermore, Coinbase is not under any obligation to remain “liable for payment” to any particular user who wishes to redeem their bitcoin for USD or other currency. Coinbase is not the “seller” of a payment instrument because bitcoin is not an “instrument.” Under the California Commercial Code negotiable instruments “must involve a written instruction or undertaking” Cal. Comm. Code § 3103(a)(6). With a bitcoin transaction there is no written instruction or undertaking, it is simply a transfer of possession of the private keys associated with a particular bitcoin or fraction thereof. Each bitcoin is a unique piece of property, not a currency, as evidenced by the IRS Notice 2014-21. The ruling treats bitcoin as property, not as an instrument, note, or draft. Each bitcoin is inherently unique because ownership is based purely on possession of specific private keys associated with the bitcoin and authenticated by the public ledger in the Bitcoin network. Once Coinbase has given a user possession of the private keys associated with a bitcoin, Coinbase is no longer under any obligation to transact with that user again or exchange the bitcoin for another currency. Because Coinbase is not the “issuer” of bitcoin and bitcoin is not a “payment instrument” rather it is unique property, Coinbase is not engaging in activity described in the “payment instrument” prong of the Money Transmitter Act. B. Bitcoin is Not “Stored Value” as Defined Under California Law Coinbase is not "selling or issuing stored value" Cal. Fin. Code § 2003(o).“Stored value” is defined as an agreement to exchange monetary value for a promise to later redeem that value for a fixed amount, “evidenced by an electronic or digital record” Cal. Fin. Code § 2003(v). Coinbase does not offer redemption value for bitcoins sold to its customers. Coinbase service merely transfers property ownership of the private keys to a bitcoin. At no point in time is Coinbase obligated to redeem any specific stored value because the value of a bitcoin fluctuates wildly with the market. Furthermore, Coinbase is not the “issuer” as discussed above because bitcoin is “issued” by the network's proof of work algorithm and verified by peers in the public blockchain ledger. C. Coinbase Does Not Accept Funds to Be Transmitted to a Third Party California Finance Code requires that services "receiving money for transmission" register as Money Transmitters Cal. Fin. Code § 2003(o). A service accepts money for transmission where it accepts funds from one user and subsequently transfers those funds to a third party within or outside the United States Cal. Fin. Code § 2003(s). The basis of Coinbase business model is not the transmission of money, nor does it transfer funds, money, instruments, or bitcoin from one user to another. Coinbase purchaces property in the form of each unique bitcoin from its users, Coinbase is then free to keep, sell or destroy that property at will. The fact that Coinbase has simultaneous purchase and sell features does not change the nature of this because at no point in time as any property or bitcoin transmitted anywhere other than from a user to Coinbase, or vice versa. This conclusion is further evidenced by the Department of Business Oversight's (formerly the DFI) concurrence that “Foreign Currency Exchange Services - Not Subject to money Transmission Act” Available at HYPERLINK "http://www.dfi.ca.gov/Laws/orders_files/Opinion-Foreign_Currency_Exchange_Services.pdf"http://www.dfi.ca.gov/Laws/orders_files/Opinion-Foreign_Currency_Exchange_Services.pdf. There the Department concluded that the sale of pesos in exchange for a fee and U.S. Dollars was not a money transmission. This conclusion was drawn because the service did not transmit money to a third party and it did not remain liable to later redeem value for the pesos. The service described in the opinion is strikingly similar to the service offered by Coinbase. Because Coinbase does not receive money to be transmitted to a third party and it does not obligate itself to later redeem value for a bitcoin, it does not fall under the regulation of this prong of the California Finance Code. II. File for a Money Transmitting License in California and Delaware Should regulations emerge that more clearly place bitcoin under any of the definitions described above, it would be prudent for Coinbase to register for a Money Transmitting License in California and Delaware. Business entities are most likely subject to jurisdiction where they maintain their principal place of business, and often as well in the state of incorporation. 28 U.S.C. § 1332(c)(1) provides that "a corporation shall be deemed to be a citizen of any State by which it has been incorporated and of the State where it has its principal place of business." Relatively