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BitBucks Event: Bitcoin Hood Stuttgart! Accept Bitcoin with BitBucks

Ready to experience the future of digital and mobile payments today? Then become together with BitBucks a part of the Stuttgart Bitcoin hood and accept BTC in your store. In our upcoming event we want to convince not only Stuttgart's gastronomes and merchants of our vision and the BitBucks Bitcoin Wallet.

October 22, 2020
Press Release
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To integrate Bitcoin as a means of payment into everyday life all over the world: that is our vision at BitBucks. With our Bitcoin Wallet for iOS and Android, we offer an cost-effective, fast and simple payment alternative that paves the way for both customers and merchants to tomorrow's mobile and contactless payments. But there are still many doubts and misconceptions about Bitcoin and payments in retail. 

That's why we want to clarify open questions in a Meet-Up at our headquarters in Stuttgart and convince merchants on site of our innovative payment app. Due to the current situation around COVID-19, the MeetUp will of course take place in compliance with the Corona regulation of the state of Baden-Württemberg and will also be available via Facebook livestream. More information about the event on 02.11.2020 can be found here.

Merchants ask, BitBucks answers

In the context of the upcoming event we at BitBucks will show how simply our Bitcoin Wallet works in everyday life, what merchants have to do to bring BitBucks to their own cash registers and why one should give cashless and contactless payments with Bitcoin a chance, especially in difficult times like these. If you are unable to attend the event live, simply write us your questions by e-mail.

We at BitBucks will answer all open questions and thus remove even the last doubts about Bitcoin as a real means of payment.Whether restaurants, bakeries, hairdressing salons, bars or other local businesses - together with merchants and restaurateurs, we do not only turn the Stuttgart city center into a modern Bitcoin hood! 

Bitcoin in retail: The BitBucks mission

Bitcoin is the money of the Internet, the currency of the future. Especially in times of crisis, we at BitBucks are convinced that an alternative means of payment is necessary to make digital and mobile payments available to everyone. With our Instant Payment App we make it possible to pay instantly and easily with Bitcoin. Thanks to its technical basis, BitBucks can even be connected to various POS systems, which is why the Bitcoin Wallet is ideal for use in retail. 

Philipp Peters
Written by

Philipp Peters

Philipp works as a Online Marketing Manager at BitBucks. He keeps track of the daily developments all around cryptocurrencies. For him, one thing is clear: The future belongs to Bitcoin. 

FAQ - BitBucks and Bitcoin

Are payouts from my BitBucks app possible anytime and anywhere?

Yes! You can withdraw your desired balance from the BitBucks App to another Bitcoin Wallet at any time. Please keep in mind that besides the normal costs for blockchain transactions, we at BitBucks also charge a 2% fee for payouts.

Are there any fees for payments with BitBucks?

No! All payments within the BitBucks app are completely free and can be made in seconds.

How do I pay with the BitBucks app?

It's simple! With the payment function of the app you can pay instantly and easily in Bitcoin. Within a second the amount is credited to the BitBucks account of the recipient.

How do I top-up Bitcoin to my BitBucks Wallet?

For this you need a second Bitcoin Wallet next to the BitBucks App: We recommend the Blue Wallet or Electrum where you can store your Bitcoin credit. Using the top-up function in the BitBucks app, you can then simply transfer Bitcoin to your BitBucks account by entering the Bitcoin address.

How do payments work with BitBucks?

Payments within the Bitcoin Wallet of BitBucks can be made to all valid telephone numbers. Since the transactions are executed outside the blockchain - offchain - even smaller amounts can be processed in BitBucks within a second.

I have to pay taxes on Bitcoin, but do I have to convert the earned coins into Euro immediately?

The Bitcoin received can either be sold by merchants in a timely manner at the end-of-day rate or added to their own fixed assets. In the case of a later sale on the stock exchange, only the profit made is taxable for traders - any losses can be written off normally.  *German Law only

Is there a list of all transactions within the BitBucks app?

For all bookings within the BitBucks App an overview can be created monthly as PDF to ensure a smoothly tax accounting.

What additional factors must be taken into consideration for tax accounting?

Merchants must document the corresponding exchange rate for all Bitcoin payments - the end-of-day exchange rate is also sufficient. The Bitcoin Wallet from BitBucks provides all relevant information with an integrated transaction export in the app, thus simplifying the work for the merchant.

What does a payment with BitBucks cost me as a merchant?

Top-ups and pay-outs are free of charge for merchants who use the BitBucks app. Payments within the wallet are charged a transaction fee of one percent. In comparison, payments by credit card in Germany usually cost merchants between two and four percent (excluding fees for card terminal providers) and are therefore much more expensive.

What is BitBucks?

BitBucks Wallet is a mobile app for Android and iOS that enables you to pay with Bitcoin instantly and in addition to store your BTC savely in your Bitcoin Wallet.

What will change for me as a merchant if I offer Bitcoin as a means of payment? Suddenly I get paid in Bitcoin and not my local currency as usual. 

Euros (or any other currency) are still booked in the balance sheet. In the normal course of business nothing changes.

 What about the tax settlement of Bitcoin as a merchant? What about the value added tax?

VAT is still charged on the products sold as normal. When selling Bitcoin, an additional deduction of VAT is also no longer necessary.

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