Press Release

The original vision of Bitcoin is to provide a global digital currency available to anyone in the world. In June, the Bitcoin Cash Association (BCA) launched a bounty campaign in Venezuela that rewarded people in Bitcoin Cash for onboarding new merchants to accept the cryptocurrency.

The onboarding process consisted of helping the business download the Bitcoin.com wallet, teaching them how to set-up and accept BCH, submitting that business to receive their reward and tweeting about the business to let people know that merchant was open for Bitcoin business.

The BCA extended the bounty campaign for another 30 days in Venezuela and Colombia and the results are unprecedented. The bounty resulted in 245 submissions and we have confirmed 156 new businesses accepting Bitcoin Cash - the most successful merchant bounty recorded in a similar timeframe led by grassroots supporters. The success is a direct result of the growing support to use Bitcoin as cash. It further demonstrates Bitcoin Cash can be used as a secure form of payment with reliably low fees of less than one cent.

Number of Bounty Businesses Submitted and Confirmed

To put it in perspective, the bounty resulted in an approximate 50% increase in brick and mortar businesses on Marco Coino, according to the latest number of businesses.

Hundreds of merchants in Venezuela and Colombia now reliably accept Bitcoin Cash and local supporters can spend Bitcoin as cash. The size and variety of merchants vary from bakeries, hotels, barbershops, restaurants, cafes, and supermarkets.