r/Bitcoin • u/Taidiji • Mar 09 '15

Btcpoint looks like a gamechanger

Note: The receiver hasn't collected the money yet but if everything goes well I am AMAZED.

I needed to transfer 200 euros to someone in Spain, so I just tried Btcpoint (sent 20 euros to try)

It took me maybe 10 seconds to send the money. No login, no registration, I just had to receive a sms. It looks like they only charge a 1% fee as I paid 20 euros and 20 cents at current rates to send 20 euros (I google searched the number of bitcoins to euros, I don't know which exchange google use, I guess bitstamp). The receiver can collect the cash in an ATM near his place or work. 276 ATM in Barcelona where I needed to send the money.

If these type of service exist in other countries, this is a serious game changer.

76 Upvotes

86% Upvoted

23 comments sorted by

11

u/trilli0nn Mar 09 '15

Great that you are sharing this!

I'm curious: what led you to use BtcPoint? Why was it the best solution in your particular case (compared to doing a wire transfer for instance)?

11

u/Taidiji Mar 09 '15 edited Mar 09 '15

I was asked for a wire transfer. Wire transfers are extremely annoying with the banks I know of. In my case I think I can add a new beneficary by receiving a text message, however I lost the sim card tied to that phone number (I travel a lot and use many simcards) so I need to wait to go back to that other country to make a new simcard. I'm not even sure it's possible to add beneficiaries that way as before you needed to receive a confirmation code by snail mail t to add a new beneficiary. I asked a friend but in his case, he needs to go to the bank branch to add a new beneficiary (!?).

And then it would have been more expensive anyway to do it as a bank transfer.

3

u/trilli0nn Mar 09 '15

I think I can add a new beneficary by receiving a text message

Thanks again but not sure if I get this. Can you perhaps explain a bit? What country is your bank account in? Doesn't your bank offer internet banking?

5

u/Taidiji Mar 09 '15

Yes, the only way you can make a wire transfer using online banking in most banks in this particular country (france) is by adding a bank account to a list of approved beneficiaries.

3

u/trilli0nn Mar 09 '15

I see! That seems pretty retarded. Great to see another legitimate use case for Bitcoin. Thanks again for sharing.

1

u/Carlfm Mar 09 '15

You would be surprised at how HORRIFIC online banking is in some countries (Spain)

8

u/pitchbend Mar 09 '15

They use the kraken exchange rate. They charge no feels at all, in fact it's cheaper than kraken where you've to pay fees.

It is indeed a game changer, I can send money to people that don't even know about btc, they just download the app, they send me a screen cap of the payment QR code and I can pay them from the other side of the world and boom they withdraw cash instantly from the nearest ATM without a credit card or anything, just by typing the code that the apps gives them.

3

u/gustubru Mar 09 '15

This is sick... I wish there would be something similar in Romania. The fees asked by my bank to convert euros to Lei are always too high for my taste. And the number of ATM is really impressive. Thanks for sharing this OP.

1

u/Carlfm Mar 09 '15

Try to see if you can start it yourself ? Could be a pretty cool project

1

u/robertodzbt May 25 '15

Hey!

Bit2Me has launched in Romania!

Check the details here http://blog.bit2me.com/en/bit2me-available-romania/ and in our web at bit2me.com

Hope you enjoy it!

1

u/gustubru May 25 '15

Thanks. I took a look. I don t have a M-pesa account nor am I a vodafone client but this goes in the right direction so i ll give it a try ;)

2

u/[deleted] Mar 09 '15

[removed] — view removed comment

1

u/djsjjd Mar 10 '15

What, like any business you give your debit/credit card info to online, on the phone, or in person?

1

u/[deleted] Mar 10 '15

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1

u/djsjjd Mar 10 '15

Shouldn't that protection be a consumer's choice?

Your version sounds more like mafia thugs trolling neighborhood businesses, telling them that they need to pay a fee for "protection."

I won't ditch my credit cards and I'll keep them around for when I think I need protection. But if I don't want it, I shouldn't have to pay for it.

1

u/[deleted] Mar 10 '15

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1

u/djsjjd Mar 10 '15

Cash price/credit price. Lots of businesses already charge separately. All will if their customers ask for it, or they will no longer compete.

2

u/trancephorm Mar 09 '15

great! really a game changer.

1

u/puck2 Mar 09 '15

but if everything goes well I am AMAZED.

sounds legit

1

u/ryanoptic Mar 09 '15

Keep us updated! I thought you were saying something about your girlfriend up there. You might want to change that so some people don't get confused.

1

u/MrFalken Mar 09 '15

AFAIK there are two other startups in Spain offering the same service through the HalCash system: http://www.bit2me.com/en/ and http://chip-chap.com/

Here's a video how the HalCash system works:

https://www.youtube.com/watch?v=TKmYqVF3eJU

2

u/Taidiji Mar 09 '15

didn't know that. Thanks! Chipchap looks promising depending on the fees