Many of these vendors offer steep discounts if you pay with Bitcoins.
So what’s going on here?
What is Bitcoin?
Bitcoin is a digital currency created by an anonymous programmer to solve many of the problems that limit our current monetary system. You see, when you go to a coffee shop and pay for a coffee with your credit/debit card, it’s your bank that picks up the tab, not you. Bitcoin is decentralized meaning there is no middle man. There are no banks and transactions occur directly or peer-to-peer. The technology behind bitcoin ensures that each transaction is legitimate and secure.
In the most simple terms, Bitcoin is currency you can use to buy things from vendors who accept Bitcoin. Each day new vendors in all types of markets and industries are becoming comfortable with this new digital currency.
Bitcoin has been the saving grace of nootropics vendors. Having been in this industry for a few years I’ve seen vendors hit the dust because their credit card processor dropped them as customers.
The truth is, credit card merchants don’t like working with nootropics and Kratom vendors because it’s a high risk business…
…and if vendors don’t have a method of accepting payment from customers, they go down.
Bitcoin allows vendors to stay in business and that’s why I predict Bitcoin will be the primary driver of purchasing nootropics, Kratom, and other compounds in the coming years.
How to buy Bitcoins
The easiest way to purchase Bitcoins is through a reputable Bitcoin exchange like Coinbase. Creating an account is free and buying bitcoins is a simple matter of linking up your bank account and transferring funds. When I setup my profile all I needed was my bank account and routing number.
Buying online with Bitcoin
Buying with Bitcoin is different from paying with a credit card but it’s still drop dead simple.
When you’re ready to check out with your items and pay you’ll see a window like this:
Notice the unique address code. Copy this code and then go into your Coinbase account to send payment:
Simply copy the recipient code into the box and then the payment amount. When the transaction is verified your items will ship.
Currently Bitcoin is very volatile and fluctuates in value. This means the money you put into Bitcoin today can increase or decrease in value depending on the state of the market. Kind of like stocks. By keeping your money in Bitcoin you assume this risk. At anytime you can cash out and exchange your Bitcoins for the current market value of USD or other currency.
I’ve seen vendors slash prices on products up to 20% if you pay with Bitcoin. I think Bitcoin is a great way to support the nootropics and Kratom vendors we love so they can continue to operate and ship product.
Any questions? Hit me up in the comments!
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