Bitcoin Cash Association Bounty Spreads Merchant Adoption in Latin America
The Bitcoin Cash Association (BCA) and Spendbch.io recently started a bounty to spread bitcoin cash (BCH) merchant acceptance in several Latin American countries. On Nov. 11, the BCA announced that more than 250 new businesses in Venezuela and Colombia are now being on-boarded to accept bitcoin cash.
Bounty for Venezuela, Colombia and Mexico
Just recently, the BCA and Spendbch revealed a bounty program on the Bitcoincashers.org web portal. The Spendbch bounty offers funds to users who spread merchant adoption in Venezuela, Colombia and Mexico, and they can get paid for helping local businesses accept bitcoin cash.
The guidelines for earning BCH by spreading merchant adoption are fairly intuitive and do not take much effort. The first step is to introduce a business to bitcoin cash by setting them up with a wallet and teaching them how to use the currency. After a merchant decides to accept BCH, the bounty requires participants to tweet about the business on Twitter. Following that step, the merchant needs to fill out a form detailing information about its business, including its location. Bounty entrants must include valid BCH addresses with the forms, so funds can be sent after merchants are approved.
At the moment, the bounty is only available in Mexico, Venezuela and Colombia, but the BCA, which is dedicated to spreading BCH acceptance, plans to eventually roll it out worldwide. Since announcing the bounty and the official rules, the organization has reported that the campaign has been doing extremely well.
“More than 250 new businesses in Venezuela and Colombia are in the process of being on-boarded to accept bitcoin cash through the Spendbch Bounty program,” the community-driven BCH nonprofit explained on Twitter.
Enthusiasts can participate in the bounty on Bitcoincashers.org to spread BCH adoption.
Mobilizing Bitcoin Cash Merchant Acceptance
Over the last few months, BCH merchant adoption has grown significantly in Latin America. Businesses accepting bitcoin cash have thus far been most highly concentrated in Columbia and Venezuela, according to the merchant acceptance platform Marco Coino. The creator of Marco Coino, Brendon Duncan, explained to news.Bitcoin.com back in October that a lot of recent growth has been derived from Columbia.
The bounty follows the BCA’s recent donation pledge to the charitable operation Eatbch on Oct. 24. The BCA has explained that it will donate $1000 to the Eatbch nonprofit, with the funds to be split between Eatbch South Sudan and Venezuela. The organization believes that donating these funds will help spur merchant adoption in these countries.
“This will also have a direct impact on adoption in these areas, especially as the projects develop further relationships with suppliers that accept BCH as payment, and therefore aligns fully with our goal of global adoption,” the BCA stated during the announcement.