Autonomy BitBucks App

Monetary autonomy: Bitcoin and BitBucks make it possible

The trend in money is towards complete dependence on large corporations. With Bitcoin and BitBucks, you can resist this trend and gain monetary autonomy.

December 02, 2019

Bitcoin - the better money?

Autonomy means that you decide for yourself what you do. In a modern, liberal society, this should be taken for granted. But unfortunately it is not.

Especially when it comes to money, autonomy is not far off. Most people have their money in the bank or at a company like MasterCard or PayPal. In order to use the money, they need the consent of these companies. In fact, you are no longer the owner of your money.

Isn't it outrageous that you have to give your money to someone else to use it? Fortunately, there is another way: you only have to use Bitcoin. If you own Bitcoins, you really own it. Bitcoins are stored with a private key. If you have the key in your wallet, you own the Bitcoins. Not the bank, not the state, not an American corporation. It is you. And only you.

 

Risks and Benefits

Bitcoins behave like cash. Only electronically. Nobody can push a button to take away your banknotes or your Bitcoins. Unlike cash, Bitcoin needs no space. If you get on the plane with a handbag full of cash, you'll probably get into trouble at the checkpoint. The money is yours, but autonomy is still undesirable.

With Bitcoin, you can carry as much money as you want in a USB flash drive. You can even save Bitcoins as a brainwallet in your head. Isn't that the highest form of monetary autonomy imaginable?

As with cash, however, autonomy also has its disadvantages. If you lose your wallet, you also lose the money in it; if you lose your wallet - or your private key - the Bitcoins are gone. Of course, there are many excellent ways to make a backup of your keys. But for many people this is still too insecure.

 

That' where BitBucks steps in

You can be your own bank with Bitcoin. But you don't have to if you're afraid of losing your coins. You can also ask other people to manage your keys. At BitBucks we use a highly secure system by storing the bitcoins on multi-sig addresses and storing the corresponding keys in vaults.

Your Bitcoin credit will be secure at BitBucks, especially if you want to use it as a payment tool: With our app you'll send Bitcoins offchain. This allows payments to be completed within seconds, just by using your smartphone and our BitBucks app.

In this context, one thing is particulary important for us: BitBucks is for everyone! Download our Wallet on iOS and Android now and pay with bitcoin! Cause that's where we are sure: Payments are the key for the adoption of Bitcoin in everyday life.

Benny Christmann
Written by

Benny Christmann

Benny is in Bitcoin since 2014. He is a believer in decentralisation and sound money. He thinks bitcoin should be the native money of the internet and democratize the monetary system.

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