During the last months, a platform with the catchy name “BitPayLink” made its appearance in the Cryptospace! Some people might be wondering:
1) What is this really?
2) Is it a trustworthy platform?
3) How I am supposed to use it?
We have made a review and we are going to give answers for all these questions!
What is BitPayLink really ?
BitPayLink is a platform that has two functionalities :
a) it offers an e-lottery based on cryptocurrencies.
b) it is offering some exchanging services as an intermediate in order to save time for the buyer. Let’s check the special features for BitPayLink’s services!
What is so special with their e-lottery?
There are two unique characteristics of their e-lottery. The first is that their system is based on the hashes of the BitcoinZ blockchain in order to give the winning numbers. The hashes are the long, randomly selected numbers during the mining procedure. We all know from the Proof of Work model that this is a highly randomized and unpredictable way of generating numbers. This is making BitPayLink’s e-lottery system really trustworthy by making it completely randomized and unpredictable! The lottery results come from the last numbers of prespecified hashes. Everyone is free to verify the winning results by just checking the numbers that are associated with these blocks that have been found in the BitcoinZ blockchain explorer.
The second unique characteristic is their rewarding model. The “share your link” moto in their very name is describing exactly this rewarding mechanism. When you register in BitPayLink, you are asked to connect your desired BitcoinZ (public) address with your BitPayLink account. The platform subsequently activates a link including your chosen nickname. From then on, you are ready to use this link in order to invite more people in the site. Thereby you enjoy a percentage from their future purchases of e-lottery coupons! The rewards are automatically paid in your connected bitcoinz address.
In a nutshell , this platform achieves to make a trully unpredictable lottery and at the same time is distributing a part of the jackpot back to everyone! Something that a “physical” lottery would never do.
Too good to be true? This was what we thought as well but it is real.
Can I trust BitPayLink ?
Everything related with cryptocurrencies and referral rewards might seem a little “scammy”. This is something completely understandable and here in this BitcoinZ Community powered site, we do our best in order to inform people about the most usual potential dangers.
But what about BitPayLink ? Does this platform provide trustworthy services?
Yes. BitPayLink does provide trustworthy services.
BitPayLink would never ask you to hand over your private keys. So your cryptocurrency funds are completely safe! The only thing that you connect with your BitPayLink account is your public address. An address that you would also give to a friend or a buyer in order to send you funds ! You are the one who controls your funds in your own wallet of your choice , keeping your own private keys.
You share your public address with BitPayLink for two reasons :
a) in order to receive the rewards from your referral links (from friends who are going to use the platforms services in the future).
b) in order to receive the coins that you might buy, using the exchanging service. This is the second feature of the platform which we will cover in the next paragraphs.
So , yes you can definitely use BitPayLink and be sure that you will receive both your rewards or your purchased coins in the connected address of your choice! BitPayLink won’t even use any information about you. It respects your privacy and asks you only to verify that you are over 18 years old.
How am I supposed to use BitPayLink?
As it is described in the image above, there are 4 simple steps for this :
1) After the login, you have to go to the dashoard. There, you choose the option “Buy and sell BITCOINZ”.
2) You choose the desired $ amount that you are going to spend in order to get BTCZ coins. The platform is showing the accurate number of the BTCZ coins that you will get in your connected wallet and the present BTCZ/$ rate.
3) The PayPal portal is opening in order to complete your payment! Immediately after your payment, you are getting an email containing a long code.
4) You enter your code in the field under the buying options in your BitPayLink dashboard. You press “Submit” and the BitcoinZ coins are in your connected address in the very next seconds!
For any possible issue you can always check the Frequently Asked Questions section of the Platform as well.
Advantages of the exchange feature
– There is complete clarity of the amount that you spend and the purchased BitcoinZ coins. No hidden fees.
– There is no need of giving identity details because there is no KYC (Know Your Client) procedure. Many cryptocurrency exchanges are asking for extremely strict KYC procedures.
– It eliminates the risk of losing your funds because of hack attack. Because you no longer use any third party’s addresses. Your purchased coins are sent to your own address.
– You save a lot of time. For example you can spend $100 and buy BitcoinZ coins in just a few seconds. Using a cryptocurrency exchange would require many hours.