Pay via Bitcoin without owning any bitcoins, only euros

One of the key obstructions of Bitcoin adoption is relatively volatile bitcoin price. It not only restricts from using bitcoin as a store of value in the long run, but also causes difficulties while using bitcoin on a daily basis. Many ordinary Bitcoin users are usually facing uncertainty when buying bitcoins to pay for goods, as prices of goods in bitcoin fluctuates together with bitcoin exchange risk. So something that cost 0.0200 BTC might cost 0.0205 BTC just after payer exchanges his fiat currency to 0.0200 BTC.

To eliminate this fundamental, but easy to remove, limitation SpectroCoin.com has upgraded its mobile wallets (Android, iOS, Windows Phone). Now, after initiating Bitcoin transactions on their mobile phones SpectroCoin.com clients are able to choose which wallet Bitcoin or Euro to use. If Euro wallet is chosen, an exact amount of bitcoins required to complete the transaction is exchanged and the transaction is sent to Bitcoin network.

Lets see how it works. After seeing a Bitcoin payment window:

Merchant window
Merchant window
Step 1: Client launches SpectroCoin wallet
Step 1: Launch SpectroCoin wallet

 

Step 2: Opens "Bitcoin Send" window:
Step 2: Open “Bitcoin Send” window

 

Step 3: Scan Bitcoin QR code
Step 3: Scan Bitcoin QR code
Step 4: Click SEND
Step 4: Click SEND
Step 5: Confirm payment
Step 5: Confirm payment
Step 6: Choose to pay in EUR or BTC
Step 6: Choose to pay in EUR or BTC
Step 7: Bitcoin transaction has been sent
Step 7: Bitcoin transaction has been sent

 

SpectroCoin.com believes, that this solution can help to reduce skepticism about Bitcoin, as many people who criticize Bitcoin firstly uses the argument of its price being instable. If the Bitcoin ecosystem will keep moving in the same direction as now, when Bitcoin is competing with payment systems, not currencies, the price risk will be moved away from end-users (both payers and merchants) to Bitcoin processors such as SpectroCoin, which perceive Bitcoin price risk as an alternative to operational risk such as fraud, chargebacks and other. On the other hand, this solution makes use of Bitcoin as user-friendly as any other mobile wallet like Apple Pay or Google Wallet.

 

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