Before we talk about BitBarter, let’s paint a familiar image in your head. It’s 2023, you’re going on vacation to Dubai and you have to convert your naira to dollars and your dollars to AED Arab Emirates Dirham.
You get frustrated with the currency conversion rate and stressed about the process. Eventually, you become discouraged about taking the vacation. And this happens every day. Maybe not on your vacation to Dubai but on the business trip to China, and the family occasion in America.
It’s a vicious cycle and we go through it. But what if we don’t have to? What if there was a way to use your money in its original form without stressing to convert and facing losses due to fluctuating conversion rates? That’s why BitBarter came.
What is BitBarter?
Bitbarter is a secured peer-to-peer marketplace for cryptocurrency payment, trading and remittance. With Bitbarter's trading escrow engine crypto holders can seamlessly settle fiat micropayments using cryptocurrency, and global remittance can be facilitated by bartering and exchanging assets directly between individuals.
Upon signup, Bitbarter provides its users with four services:
- A free multi-currency wallet.
- A swap feature (to convert from one cryptocurrency to another).
- Bitcode services (for micropayments)
- P2P/Remittance marketplace.
The Bitbarter wallet currently supports Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB) and Tether (USDT). And the Bitbarter Tether is available on ERC20, BEP20 and TRC20.
The swap feature allows you to convert from one currency to another. And the p2p marketplace offers users access to buy/sell crypto on the platform directly among themselves.
Bitcode, on the other hand, is a unique solution that allows users to send/receive crypto using only an email address. It works even when recipients don’t yet have a registered BitBarter account.
How To Register
- To create a new Bitbarter account, open a web browser and launch the BitBarter webpage.
2. Click “create account” on the top right corner of the main page as circled above.
3. Fill out your details and agree to the terms and conditions.
4. Click continue. (Note that by continuing, you agree to Bitbarter’s terms and conditions automatically).
As a security precaution, you should at least authenticate your used email address and phone number before using your account.
How To Verify Your BitBarter Account
The BitBarter KYC process is simple and seamless. It’s a process to confirm your phone number, email address and set up your 2FA authentication for your account. To verify, follow these steps:
- Log in to your BitBarter account. You’ll see a prompt like the image below.
2. Click “Get Started”.
3. Follow the prompts on your screen.
4. Under “Identity Verification”, choose which document you’d like to upload. The options are:
- Driver’s license
- National ID card
- International passport
NOTE: You can decide to continue the security setup later. To do so, go to your dashboard from the menu bar on the left. Then click on any of the respective icons to verify your email, phone number or set up 2FA.
What is Bitcode by BitBarter?
Bitcode is an innovative and unique means of settling payments. Bitcode service allows users to initiate and complete payment orders by creating payment requests or generating payment vouchers.
This solution is designed by Bitbarter to foster financial inclusion and to do so by enabling micropayments. With Bitcode, traders and merchants can accept and manage crypto payments for their goods and services.
This removes the risk associated with sending crypto to the wrong wallet address, sending wrong amount of cryptocurrency to receivers, and reduces fraud.
Users can use Bitcode to:
- Send crypto(money)
- Redeem crypto
How To Send A Bitcode Voucher
Sending crypto has never been this easy. Bitcode makes the process as easy and simple as making a regular bank transfer. To send Bitcode vouchers:
- Log in to your BitBarter account.
- Click on ‘Bitcode’ in your menu sidebar.
3. Click Send voucher.
4. Fill out all the prompts(make sure to choose the right network).
5. View the summary of payment and click “Pay” to proceed.
6. Authenticate payment using 2FA App or SMS and click on “Confirm” to send the Bitcode voucher to the recipient’s email.
That’s how easy it is.
How to Redeem a Bitcode Voucher
- Create an account or log in to your Bitbarter account and click on “Bitcode” on the menu by the left of your screen, then click “Send Bitcode Voucher”.
- Input the Bitcode Voucher code sent to you and click “Proceed” to display the payment details.
3. Input your key code and click on “Confirm”. (Note: the key which is only accessible to the person redeeming the payments adds an extra layer of security to the method of payment).
Bitbarter gives users the ability to manage their crypto payments in a risk-free way. This simplifies crypto payments to new users and reduces payment fraud. Register on Bitbarter to enjoy this amazing payment system for micro and large-scale payments.
Is BitBarter free?
Yes, BitBarter is free and available to anyone.
Who can use BitBarter?
Anyone can use the app, whether they are newbies or pros.
How can I register on BitBarter?
- Open bitbarter.io
- Click "create account"
- Input all fields.