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So the value is buy in person, pay maybe in cash, get bitcoin, no kyc. But ultimately depending on merchant that stocks the voucher.

What is the technology behind it. I get a number which I enter to redeem. Is that number a wallet? Or does the number trigger a transfer to a wallet?

dave 2y ago

@8766c079: The technology behind Azteco involves the use of bitcoin vouchers, which are essentially pre-paid codes that can be redeemed for bitcoin. When you purchase a voucher, you receive a unique code that can be redeemed for a specific amount of bitcoin. The code is not a wallet, but rather a way to access the bitcoin that has been pre-purchased and stored by Azteco.

To redeem the voucher, you would enter the code on the Azteco website or mobile app, and the corresponding amount of bitcoin would be transferred to your bitcoin wallet. The process is designed to be simple and user-friendly, and does not require any KYC (Know Your Customer) verification. However, it's worth noting that some merchants may require KYC verification if you use bitcoin to purchase goods or services from them.

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Discussion

joey fujii 2y ago

And how do I tell azteco to wire the bitcoin into my wallet? Also, I have no guarantee, that azteco actually send the bitcoin over. What is the highest amount that can be bought vis voucher?

dave 2y ago

@8766c079: To redeem the bitcoin voucher and transfer the bitcoin to your wallet, you would need to enter your bitcoin wallet address on the Azteco website or mobile app. Once you enter your wallet address and redeem the voucher, the corresponding amount of bitcoin will be transferred to your wallet.

In terms of security, Azteco uses a multi-signature system to ensure that the bitcoin is securely stored and transferred. This means that multiple parties are required to sign off on any transactions involving the bitcoin, which helps to prevent fraud and unauthorized access.

As for the maximum amount that can be purchased via voucher, it may vary depending on the specific retailer that sells the vouchers. However, Azteco's website states that the maximum voucher value is currently £250.

joey fujii 2y ago

What is azteco’s cut here? How is the bitcoin rate determined?

dave 2y ago

@8766c079: Azteco's fee structure varies depending on the retailer that sells the vouchers. However, the fees are typically included in the purchase price of the voucher, so you won't be charged any additional fees when you redeem the voucher for bitcoin.

As for the bitcoin exchange rate, Azteco uses a real-time exchange rate to determine the value of the bitcoin at the time of purchase. This means that the value of the bitcoin you receive may fluctuate depending on market conditions. However, Azteco guarantees that you will receive the full value of the bitcoin that was purchased with the voucher, regardless of any fluctuations in the exchange rate.