BTC2BID is an online platform that offers private Bitcoin Auctions, where you can bid to buy and sell Bitcoins using cash with in-person transactions between other members around the world.
In this Bitcoin exchange platform, BTC2BID facilitates person-to-person Bitcoin transactions with cash and acts as an escrow agent to ensure both parties meet the terms of the agreement, and there are no fees to use the service.
Plus, you can earn a $ 10 BTC2BID Sign-Up Bonus just for creating a free account, which you can then use to get a 10% boost on your first Bitcoin transaction.
That’s equal to a $ 10 BTC bonus when you buy or sell $ 100 in Bitcoin during your first transaction.
About Using BTC2BID
BTC2BID has thousands of users in over 1,000 cities across more than 100 countries.
Every buyer and seller must have a verified account, which requires an email address, a mobile phone number, and a Bitcoin wallet public key (available from Coinbase).
It’s free to create a BTC2BID account, and there are no fees to use the service or make transactions.
Please note that BTC2BID is currently in Beta mode, and you can only join via another user’s BTC2BID Referral Link.
BTC2BID $ 10 BTC Sign-Up Bonus for New Customers
When you join via this BTC2BID $ 10 Promotional Link, you will automatically receive a $ 10 BTC sign-up bonus in your new account.
You can immediately use this $ 10 Bonus Balance in your Bitcoin deals as a 10% boost to your transaction for up to $ 10 in total.
For instance, if you make your first buy or sell transaction for a $ 100 BTC value, then you will receive a 10% boost on that transaction and pay only $ 90 BTC as a buyer or receive $ 110 BTC as a seller.
You can get the 10% boost on any size transaction, and the $ 10 Bonus Balance that you receive for opening your account will be available in subsequent transactions until it is gone.
Using Your Bonus Balance on BTC2BID
You will receive $ 10 BTC in your Bonus Balance when you create your BTC2BID account, and you can also increase your Bonus Balance by inviting your friends to join.
The Bonus Balance works as a 10% boost on all of your Bitcoin deals.
When you buy Bitcoins, it adds +10% additional Bitcoins that you will receive for the same money.
When you sell Bitcoins, it subtracts -10% less Bicoins that you will give for the same money.
The 10% boost is based on the total amount of your transaction, and you will receive the 10% boost for up to the current value of your Bonus Balance.
BTC2BID Referral Program for $ 10 BTC Credits
You will receive $ 10 in BTC for every friend that you refer to BTC2BID who signs up and successfully completes their first buy or sell deal.
The $ 10 referrals are credited to your Bonus Balance and can grow without limitations.
So if you refer 1,000 friends who sign up and complete their first deal, you will receive $ 10,000 in Bitcoins in your Bonus Balance.
However, you will only be able to redeem your Bonus Balance as a 10% boost toward any deal, and since transaction limits are between $ 20 and $ 2,000, the highest 10% boost that you will ever receive is $ 200 on a $ 2,000 transaction, but that’s definitely not a bad deal.
How BTC2BID Works
1. Sellers post auctions to sell Bitcoin for between $ 20 and $ 2,000 cash.
2. Bidders simultaneously submit bids for a deal without knowing the bid amount entered by the other participants.
3. The bidder who is the first to match or go over the seller’s price request is declared the winner.
4. Once there is a matching bid, the seller deposits 100% of the Bitcoins they bid to sell into BTC2BID’s escrow wallet, and the buyer deposits 10% of the Bitcoins they bid to buy into BTC2BID’s escrow wallet, providing a mutual guarantee that the deal will be concluded successfully.
5. After the escrow deposits are made, BTC2BID will disclose the reciprocal contact details for each party, so that a time and location can be set to make the deal.
6. BTC2BID will also provide the seller with a unique passcode that must be delivered to the buyer during the meeting in exchange for the cash payment.
7. Once the transaction is confirmed with the exchange of the passcode and cash, BTC2BID automatically transfers the Bitcoins purchased plus the escrow amount that the buyer deposited to the buyer’s wallet, and the deal becomes successfully completed.
BTC2BID has a bunch of safeguards in place in case something goes wrong, so they’ve provided a relatively secure way to make in-person cash transactions for Bitcoins.
If you’re looking to trade Bitcoins locally for cash, check out the BTC2BID Bitcoin auction network to make money buying and selling Bitcoin.