10 min read
The peseta, a currency that has accompanied entire generations of Spaniards, will finally go out of circulation at the end of the month, precisely on June 30, 2021. This has been determined a few months ago by the Spanish government, setting that day as the last day on which Spaniards will be able to exchange their pesetas for euros at any of the 15 branches of the Bank of Spain.
From Bitnovo, we wanted to pay tribute to the peseta in its last month of life, launching the campaign “Pesetas for Bitcoin“.
In the words of our founder, Marcos Muñoz: “Cryptocurrencies are a reality and will be part of the monetary system in the near future. With this campaign, we seek to pay tribute to the currency that has accompanied us for most of our lives in Spain and welcome the world of cryptocurrencies”.
“Cryptocurrencies such as Bitcoin represent a clear evolution in the way we understand money, since unlike the peseta or the euro, they are not tied to the decisions of certain governments nor do they represent a particular country. Cryptocurrencies know no borders and allow value to be freely transmitted worldwide.“
The currency of the past for the currency of the future
The peseta has been the legal tender in Spain for more than 130 years, from October 18, 1868 until January 1, 1999, when the euro was introduced. However, the peseta continued to circulate in Spanish territory until December 31, 2001, coexisting for a time with the euro.
It is estimated that 3% of the pesetas have not yet been redeemed. This amounts to 260 million pesetas, equivalent to almost 1,600 million euros.
On the other hand, a new currency is finding more and more followers in Spain and, according to Statista data, approximately 9% of Spaniards already use or own cryptocurrencies such as bitcoin, which is about 4 million people.
This is a clear response to the long-standing problems and disadvantages of fiat currencies, which have been highlighted by the covid-19 crisis.
Phenomena such as inflation, high government indebtedness and economic and monetary instability, encourage people to seek refuge in assets such as Bitcoin (with programmed and decentralized issuance, distributed, private, resistant to censorship, etc.).
Caída del valor del euro con respecto al BTC en los últimos 5 años. Fuente: Cuex.com
How to participate in the Pesetas for Bitcoin campaign?
June 30, 2021 is the deadline set by the Bank of Spain and, until that day, Bitnovo will offer the possibility of getting an additional 15% in Bitcoin for the pesetas exchanged.
Interested parties should send an email to firstname.lastname@example.org attaching:
1– the proof that the Bank of Spain has delivered of the exchange of pesetas for euros during June 2021.
2- a copy of your valid DNI or NIE.
After validation and approval of all documentation, Bitnovo will send the user a voucher redeemable for cryptocurrencies for the corresponding amount.
The promotion is valid from June 1 to June 30, 2021 and you can only participate with the certificates issued by the Bank of Spain between those dates. If you want to know the legal bases of the campaign, read on.
1.- START DATE AND END DATE
The campaign starts on June 1, 2021, and ends on June 30, 2021.
2.- PARTICIPATION REQUIREMENTS
The requirements for participation are as follows:
- Be a resident in Spain over 18 years of age with a valid DNI or NIE.
- Having exchanged pesetas for euros at one of the 15 branches of the Bank of Spain between June 1, 2021 and June 30, 2021 and possessing a receipt from this entity certifying the exchange.
3. CAMPAIGN MECHANICS
To participate in the campaign, the interested party must send an e-mail to email@example.com, attaching a copy of both sides of the DNI/NIE and a copy of the receipt issued by the Bank of Spain proving that he/she has exchanged pesetas for euros between June 1, 2021 and June 30, 2021.
The amount in cryptocurrencies will be paid with Bitnovo coupons that will be sent by email to the participants after verifying that all documentation is correct, and must be redeemed at www.bitnovo.com or through the Bitnovo – Crypto Wallet app.
The value to be received in cryptocurrencies will be 15% of the value reflected in the receipt issued by the Bank of Spain (for the exchange from pesetas to euros).
The maximum value to be received in cryptocurrencies per person is 150 euros.
The minimum value to be received in cryptocurrencies per person is 30 euros.
The campaign will run from June 1, 2021 to June 30, 2021 or until the equivalent value of 6,000 euros in BTC is exhausted, which is the maximum value to be paid out among all the participants of this campaign. Once the €6,000 in payments to participants has been exhausted, the campaign will be terminated. The order of beneficiaries will be determined by strict order of receipt of applications.
If it becomes evident that any of the participants do not comply with the requirements set forth in the rules, or the data provided to participate are not valid, their participation will be considered null and void and they will be automatically excluded from the “Pesetas por Bitcoin” campaign, losing all rights to the benefits granted by virtue of this campaign.
The prize awarded will not be transferable or subject to changes, alterations or compensation at the request of the participants, and cannot be exchanged for any other product or euros.
Bitnovo reserves the right to make any changes, suspend or extend the “Pesetas for Bitcoin” campaign if there is just cause and prior legal notice is given.
The winner will be responsible for any fiscal or tax burden that the acceptance of the prize may entail, as well as any other expenses arising from the campaign that are not expressly assumed by Bitnovo in these legal bases.
A period of fifteen (15) calendar days from the date of the awarding of the prize is established to make any reasoned claim. Bitnovo reserves, in case of necessity, the right to replace the prize with another of similar characteristics.
5.- PUBLICATION OF COMMENTS OR OPINIONS
Comments or opinions whose content is considered inappropriate, offensive, insulting or discriminatory or that could violate the rights of third parties will not be allowed. Comments against an individual that violate the principles of the right to honor, personal and family privacy and self-image will not be allowed. We are not responsible for any damage caused by the comments made by the participants of the campaign, and that at any time could hurt the sensitivity of other participants.
6.- DISCLAIMER OF LIABILITY
By way of example, but not limited to, we are not responsible for possible losses, theft, delays or any other circumstance attributable to third parties that may affect the development of this campaign, nor are we responsible for the use made by the participant with respect to the prize obtained from this campaign, and we assume no responsibility for any damage or harm of any kind that may be suffered by participants, winners or third parties.
We do not assume responsibility in cases of force majeure or fortuitous event that could prevent the realization of the campaign or the total or partial enjoyment of the prize. In the event that this campaign could not be carried out, either by fraud detected in it, technical errors, or any other reason that is not under the control of Bitnovo and that affects the normal development of the campaign, we reserve the right to cancel, modify, or suspend it, including the participation website.
7.- PROTECTION OF PERSONAL DATA
The company responsible for the processing of your data is Pressbrokers S.L., a commercial company whose registered trademark is Bitnovo® with registered office in 46023-Valencia, at Isla Cerdeña street, nº1-bajo, with C.I.F. nº B98346646,
Pressbrokers S.L. takes the protection of your privacy and personal data very seriously. Therefore, your personal information is kept securely and treated with the utmost care.
In accordance with the provisions of the applicable regulations on data protection, and specifically in Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of individuals with regard to the processing of personal data and the free movement of such data, each participant, with the acceptance of these legal bases consents that the personal data provided for participation in this campaign are incorporated into a file owned by Pressbrokers S.L. to process participation in the campaign and communicate access to the benefits of the campaign.
We reserve the right to modify or extend these legal bases, insofar as it does not prejudice or undermine the rights of the participants in the campaign.