Have you ever wanted to send bitcoin to someone who doesn’t have a bitcoin wallet or maybe to someone who doesn’t even know what bitcoin is? Well, now there is Money Badger and it don’t care who has a bitcoin wallet. It sends bitcoin where it wants and it doesn’t need usernames or logins.
Sending Bitcoin with Money Badger
If two people already use bitcoin, Money Badger doesn’t offer any new functionality. If you are trying to get more of your friends, family and co-workers to understand, adopt or even use bitcoin, it is one of the most useful tools in the bitcoin space.
Let’s take a closer look at how it works.
Sending bitcoin with Money Badger is easy and only takes 3 steps.
1. Enter a phone number or email address.
2. Select the amount that you’d like to send. Currently, USD, EUR, GBP and BTC are supported.
3. Complete the captcha and under “Additional Options” you can enter a short message and a return address in the event that the recipient doesn’t claim the coins that you send. This is important so you can get any unclaimed bitcoin returned to you.
When someone sends you bitcoin, you’ll receive a notification with a voucher code to redeem your bitcoins. In order to claim your bitcoins, you just have to visit money badger and enter your voucher code, your email or phone number and the bitcoin address where you would like to receive your bitcoins. That’s it.
Once you have sent someone their first amount of bitcoin, the rising price of bitcoin is usually enough to incentivize them to do some research about bitcoin and how to use it.
If the recipient doesn’t claim their bitcoins within 7 days, they are automatically returned to the sender if the sender included a return bitcoin address. This puts coins into the hands of the most relevant users and also eliminates the risk of the recipient not claiming their bitcoin. So, now you can send bitcoin to your friends, family, co-workers and anyone else you want and if they don’t care to claim them, then you get your coins back. It’s a win win.
Costs and Limits
Every time that you send bitcoin with money badger there is a $.50 service fee that goes to Money Badger to ensure that they can keep providing this service.
Since Money Badger is primarily for getting new users to adopt bitcoin by incentivizing them to download a bitcoin wallet and learn how to receive their first bitcoin transaction, there is a minimum limit of $1 and a max limit of $100 that can be sent through Money Badger. So if you are looking for a way to send large amounts of money both the sender and receiver will need to already be familiar with bitcoin.
If you are looking for a free and easy way to send anonymous bitcoin tips, giving the gift of bitcoin and helping new users learn about bitcoin then Money Badger is a great tool for you to experiment with.
How would you use Money Badger? Let us know with a comment below or a tweet at @BitcoinReasons