Stacking Sats

BitBucks App Update: Pay with Bitcoin and Stack Satoshis

The latest app update for iOS and Android allows BitBucks to follow one of the biggest trends in the Bitcoin community: Stacking Sats.The new Reward Systems in the Bitcoin Wallet allows users to earn Satoshi while paying with BitBucks and thereby to save BTC. Find out how this works and why retailers in particular benefit from the bonus program here!

April 16, 2020
Press Release, Acquire Bitcoins

What is Stacking Sats?

Stacking Sats is probably one of the biggest trends in the Bitcoin community over the past twelve months. It's about nothing less than a steady increase in your own Bitcoin assets. The term "Sats" in this case means an abbreviation of the smallest BTC unit Satoshi (named after Bitcoin inventor Satoshi Nakamoto) - one unit of Sats corresponds to 0.00000001 Bitcoin.

But how can Satoshis be stacked? Those who believe in a steady rise of the Bitcoin price can resort to the "classic" variants, i.e. mining or a regular purchase of Bitcoin on the stock exchange, to expand their BTC portfolio. However, Bitcoins can also be earned: On the one hand, this can be done by simply getting paid in Bitcoin - as a freelancer, for instance - or, on the other hand, by resorting to so-called cashback providers.

 

BitBucks Reward System

Since the latest app update for iOS and Android, BitBucks now also offers such a cashback service, which allows users to get a small part of their payment back as sats. So if users use the Bitcoin Wallet from BitBucks to make payments in the future - for example in retail - they too belong to the group of people who actively use the method of Satoshi Stacking. All revenues are stored in a separate savings account and can be added to the main BitBucks balance with just one click.

Meanwhile, the extent of the saved "Sats" is determined by the participating merchant. The merchant decides individually on whether he or she wants to contribute one, ten or even up to 70 percent to the BitBucks Reward System. If merchants are uncertain about the bonus program at first, they can of course receive payments in Bitcoin via BitBucks even without the reward system.


 

Pay with Bitcoin and Stacking Sats

BitBucks not only paves the way for Bitcoin to finally be used in retail, it also helps users to earn Satoshi when spending BTC. At the same time, merchants can attract customers with an appealing bonus program, increase payment transactions with Bitcoin in their own stores and ultimately operate Stacking Sats themself as well (Whether merchants keep the BTCs they earn or convert them directly into local currency is ultimately up to them).

With the new Reward System in the BitBucks Wallet, users are invited to make payments in Bitcoin.  In addition, Stacking Sats finally encourages merchants to integrate contactless payment methods while attracting their own customers with a new lucrative offer.

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 BitBucks?

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 BitBucks Wallet 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.

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 is BitBucks?

BitBucks Wallet is a mobile app for Android and iOS that enables you to pay with Bitcoin instantly.

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