The bitcoin is usually illustrated as cryptocurrency. A digital currency or a virtual kind of money, which is fully virtual. It is a cash to pay online only, you can buy various services and products. But not every online shop receives bitcoin, even some of the countries banned its online payment procedure. This system does not need any administrative sector or a bank.
This service started in 2009, by an unrevealed group or a person called Satoshi Nakamoto. You can exchange any currencies, services or products with bitcoin. In the research of 2017, it showed that over 6 million people using cryptocurrency wallet. Every bitcoin is basically a computer file stored in a coinjar or a cryptocurrency wallet.
How does it Work?
People can send bitcoins to your coinjar or you can send them too. The block chain, a public list which records and controls each and every transaction. This process helps to find the transaction history and to control spending unauthorized money. People can buy bitcoins or create them via computers.
What is Coinjar?
Coinjar is a startup which permits Australians to store, spend, receive and trade bitcoin. Coinjar describes itself a next generation account for finance. It is a bitcoin wallet provider.
Usefulness of Coinjar
This bitcoin wallet is invented by Ryan Zhou and Asher Tan in 2013. After three years of launching, coinjar reached more than 70,000 customers and earned transactions money over 100 million dollars.
- Coinjar has an option call coinjar swipe, it allows customers to covert bitcoins in Australian currency while using your card for purchasing products.
- The coinjar app can make payment anyone in less than 10 seconds.
- Customers can easily make payment using bitcoin address, QR code or coinjar username in the app.
- Like any other mobile banking app, coinjar permits to link more than one account and spend money from different bank in the app.
Easy to Use
A lot of time and creativeness have been located to design this service, but there is a little lack of information or explanation for how it works. The app starts with a friendly and welcoming video and very easy to use afterwards. It coverts Australian currency in Bitcoin in seconds and it gives a confidence to purchase products.
- Customers can send money in 196 different countries through coinjar username.
- Being an unstable system, bitcoin is still one of the grossing online currency and coinjar permits to spend money in various currencies.
- Customers can buy bitcoin in 1% discount through coinjar.