What is Bitcoin?
Why Spend Bitcoin?
Bitcoin is a computer science breakthrough that is revolutionizing the world. The opportunities and benefits are near limitless to improve humanity and reduce inefficiencies.
But it might not matter if people don’t adopt Bitcoin. Bitcoin’s success depends on mainstream adoption. The past 5 years proved that existing use cases are insufficient and leaves many questions unanswered:
Why spend bitcoins instead of my American Express card that pays rewards?
Why send bitcoins when Venmo is free and instant?
Why invest in an unknown inventor’s currency over a proven entrepreneur’s company like Tesla?
At Purse, we proved that the blockchain could be used to liquidate proprietary value and translate liquidity to huge discounts. We believe the mainstream will learn to use Bitcoin if they have compelling reasons to do it. By doing your shopping in Bitcoin, not only are you helping to spread the adoption of cryptocurrencies, but you can get more benefits out of it.
With Purse, you set your own discount, our typical shopper saves 15% off their orders. A popular strategy employed by our shoppers is to buy bitcoin with the amount you would normally spend doing your Amazon shopping, then use Purse to get a sweet 5 to 33% discount and save the leftover amount in BTC.
Bitcoin is globally available and anyone can start using it like cash to buy goods or transfer funds. It does not require a bank account or permission from anyone. Instead of a central authority, the bitcoin transaction network consists of computers around the world running open source software, which operates the protocol for administering bitcoin transactions. Each computer on the network also maintains a copy of the universal public ledger called the blockchain.
Bitcoin can be sold for local currency easily using the following exchanges.
Bitstamp, Bitfinex, or Kraken (EUR, GBP)
Every Purse account comes with a wallet with a unique deposit address. Bitcoins can be deposited or withdrawn from your Purse wallet at any time. To store large amounts of bitcoins, we recommend using one of these wallets.
Copay, Coinkite, BitGo or GreenAddress.it (multi-sig)
Copay, Bread or Edge (iOS)
Copay, Mycelium or Edge (Android)
Copay or Electrum (desktop)
Trezor or Ledger (hardware wallet)
Canadian Senate hearing
The Role of Bitcoin as Money
Bitcoin, the new gold standard
Age of Cryptocurrency
Updated on: 07/01/2021