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One of Bitnovo’s main and most popular services are crypto vouchers. These are physical cards (or tickets) that can be purchased with cash or card and redeemed for cryptocurrencies such as Bitcoin, Ethereum, Cardano, Monero, etc.
In this guide you will find all the information you need to know about Bitnovo coupons.
How do Bitnovo coupons work?
Bitnovo coupons can be purchased in numerous stores and establishments (more than 40,000). There are coupons in different denominations (€25, €50, €100, €250, €500) and they can be redeemed for more than 20 cryptocurrencies that you can check here.
When you purchase a Bitnovo voucher, your code will be activated at checkout, and can be redeemed instantly at any time. The only requirement is to have a Bitnovo account and a wallet of the cryptocurrency you are going to redeem.
This requirement is due to the fact that Bitnovo does not act as a custodian of cryptocurrencies, but sends them to wallets controlled by customers. In fact, one of the mottos of Bitnovo’s philosophy is “Not your keys, not your coins“. If you want to know more about why Bitnovo is not an exchange, read this article.
To receive your cryptocurrencies you can use software wallets such as Bitnovo, or hardware wallets. This way you will have control over your coins, instead of a trusted third party. In this other article we explain in more detail the wallet options for good security.
Finally we will have to enter the Bitnovo app, go to the redeem coupon section and enter the necessary information. We will detail this simple process in the next section.
How do I redeem the coupon?
Having the wallet, our Bitnovo coupon of any denomination and being on the official website or the Bitnovo app, we will be able to redeem it very easily.
The first thing to do is to choose the cryptocurrency to be exchanged. The second thing will be to enter an address generated by our wallet of that cryptocurrency (either by copying and pasting, using a QR code or writing it manually). And finally, we will have to insert the code of our coupon.
We will click on redeem and we will have to verify again that our crypto address is spelled correctly (it must be the same as the one shown in our wallet). Next, we will be able to add contact information in a completely optional way.
Finally a breakdown of Bitnovo’s commissions will be displayed and, upon acceptance, everything will be ready. The screen will show that the order has been received and in a few minutes you will receive your cryptocurrencies at the address provided.
In addition, if you have more than one coupon, you can redeem them all at the same time to save commissions.
Summary: step by step
If you are still not completely clear, here I explain in a simple way the complete process to buy and redeem Bitnovo coupons for cryptocurrencies.
1- Go to the store or ATM closest to your location (look for the map on our website or app).
2- Order a Bitnovo voucher for the amount in euros of your choice (25, 50, 100, 250 or 500 euros).
3- Pay in cash or by credit card and receive the coupon with the code to be redeemed.
4- Login to our app, redeem the coupon for the cryptocurrency of your choice and send the funds to your wallet.
Bitnovo has its own rate or selling price of cryptocurrencies that you can learn about here. As you are making a transaction on-chain (on the blockchain) you also have to pay the network fee (which varies depending on the time and the network).
Finally, in the case of coupons, the establishments that offer them also charge a commission that can be a maximum of 5%. It is important to mention that in some places in Spain, Bitnovo has coupon dispensers (shown on the web as Bitnovo ATM).
For more information about Bitnovo’s commissions you can read this article.
Benefits of coupons
- Own custody: cryptocurrencies arrive directly to your wallet, controlled by you and not by trusted third parties (such as exchanges).
- Availability: coupons can be found in more than 40,000 stores and establishments.
- Ease: this is a very easy way to buy cryptocurrencies that does not even require opening an account, linking credit cards, etc.
That’s all for this time. I hope it was perfectly clear how coupons work, their commissions and advantages, thanks for reading us!