What is BitBucks?
BitBucks is a Bitcoin Wallet that allows instant payments with Bitcoin. All you need is the BitBucks Wallet on your smartphone. This is how easy cashless payments in retail works - No annoying and expensive payment terminals.
How does BitBucks work?
Scan the QR-Code, enter your desired amount and pay: Cashless payments for everyone. Use Bitcoin and BitBucks!
Faster than cash, cheaper than credit cards and climate friendly: BitBucks!
Payments within the Bitcoin Wallet from BitBucks are not only fast, but also cheap. Sellers using BitBucks for their shop transactions enjoy a minimal one percent fee, making it an incredibly cost-effective solution.
Bitcoin is for everyone!
Bitcoin is for everyone, and as a seller, accepting Bitcoin will attract a wide range of customers interested in using this digital currency.
But why Bitcoin?
Bitcoin is a digital currency and is accepted in almost every country in the world; more than 500 million dollars are transferred in Bitcoin every day. BTC gives its users unprecedented monetary autonomy. Bitcoin is an open system in which users transfer money directly, without banks.
I would like to accept BitBucks as a payment method in my store, what do I have to do?
Every seller can integrate BitBucks and therefore Bitcoin payments in his store. Just send us an Email with your contact details and we will provide you with all the information and your individual BitBucks QR-Code.
BitBucks for sellers
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 do I need to accept BitBucks in my store?
All you need is the BitBucks app on your smartphone and a QR code attached to it next to the cashier. During the payment process the customer scans this QR code with his Bitcoin wallet, enters the required amount and within a second the payment is received on your mobile phone.
How can I convert my earned Bitcoins to another currency?
Herefore the credit from the BitBucks app has to be transferred to another Bitcoin Wallet, with which the bitcoin amount can be converted into your desired currency at a so-called exchange market.
Doesn't Bitcoins' price rises also mean higher tax expenses for me?
Not at all! If you would like to exchange Bitcoin for i.e. Euro, you only pay taxes on the profit achieved by the price increase. And to be honest, paying taxes on profits doesn't sound that bad, does it?
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.
Isn't the Bitcoin price too volatile and therefore a risk for me as a merchant?
If you sell your Bitcoin on the same day at the end-of-day price, the volatility of the Bitcoin price hardly plays a role for you as a merchant. In addition, due to the pending halving and the deflationary character of Bitcoin, the price is expected to stabilize over time anyway.
Can bitcoins be seized?
If you store your private key securely, no one can confiscate your bitcoins. Only the one who has the key can access bitcoins. It is protected by strong cryptography.
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 Bitcoin legal?
In almost all countries, the use of Bitcoin to send and receive money is permitted. In a few countries this is restricted or completely forbidden. Please seek reliable information as to the legal situation regarding Bitcoin in your country.
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 is Bitcoin legally? Can I even accept it as a means of payment?
Yes, in Germany, crypto assets such as Bitcoin belong to the German Banking Act and are therefore considered a financial instrument. As a merchant, you can therefore accept Bitcoin without hesitation.
What is the german government's position on Bitcoin? Is there a danger of stricter rules?
Stricter regulations in Germany would be equivalent to a ban, which seems more than unrealistic in the current development.
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.
BitBucks Costomer Reward Systems
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!
Accept Bitcoin in Retail - now with BitBucks Wallet
How do you get Bitcoin to the cash register at bakeries, kiosks and other small retailers? We explain how you can accept Bitcoin in five minutes, what there is to keep in mind - and why the BitBucks Wallet is already designed to pay with bitcoin in retail?