A new start-up called Mintspare which publicly opened this week, will allow customers to receive bitcoin in exchange of old electronics.
Mintspare comes equipped with its own wallet that customers gain access to once they create an account. Users are then guided to choose the device they want to trade, choose the model and assess its condition.
After this is all done, a prepaid shipping label is created by Mintspare for the customer to place on his device for trading it in for bitcoin.
According to CoinDesk, Galfry Puechavy, the CEO of Mintspare said about his company,
“It’s just allows people to get in very, very easily. I personally haven’t seen a simpler way to acquire bitcoins.”
The website boasts of a quick verification and appraisal process for the devices submitted. According to Mintspare, the process is secure and the customer will receive payment in bitcoin with due haste.
Mintspare is an initiative whose focus is to add to the bitcoin community and further its adoption amongst the masses. Mintspare has a referral program which rewards customers with bitcoin when they refer someone to the site and they signup. The referral program is based upon a sliding scale reflecting of how much bitcoin(s) a user’s trade in are worth. For example, for sales of 0 to 0.5 bitcoin, the reward generated is 1%. For 0.5 to 2 bitcoin, the reward is 2%. For sales worth over 10 bitcoin, the reward is 5%.
The appraisal of devices conducted by Mintspare is based on a number of things. The website has gathered together its own resources allowing the company to determine the dollar value of a used device. The dollar value is then converted in to the bitcoin equivalent.
Mintspare is very transparent in its dealing regarding the information it hands out to its customers. For those who are hesitant to jump in the pool of bitcoin, this is a great initiative to take advantage of.
Image Courtesy of Mintspare