How does the Blink wallet work?
The Blink wallet offers a user-friendly and secure platform to manage your Bitcoin funds and perform various types of transactions. Here's a breakdown of what you can do with the wallet:
Store and Use Bitcoin: You can securely store your Bitcoin in your Blink wallet and use it to make purchases online or offline. Simply scan the recipient's QR code or enter their Bitcoin address to send payments.
Receive Bitcoin: Share your wallet address with others to receive Bitcoin. When someone sends you Bitcoin, it will appear in your wallet's balance, ready to be used or saved.
On-Chain Transactions: Blink supports traditional on-chain Bitcoin transactions. If you choose to send Bitcoin using the on-chain network, you need to enter the recipient's Bitcoin address and the amount you want to send. These transactions are recorded directly on the Bitcoin blockchain.
Lightning Network Transactions: Blink also supports Lightning Network transactions, a layer built on top of the Bitcoin network. Lightning Network offers faster and cheaper transactions. To send a Lightning Network payment, you can use the recipient's Lightning Network invoice, which specifies the amount and recipient's Lightning Network node. Lightning transactions are ideal for quick, low-cost transactions.
Stablesats: With Blink, you have the option to convert your Bitcoin into Stablesats, which are dollar-denominated balances held in your Lightning wallet. Stablesats help protect against short-term Bitcoin price volatility, making it easier to use Bitcoin for everyday purchases priced in dollars.
Convert Convert the chosen amount any time between your bitcoin and Stablesats (USD) balance.
Merchant Features: Blink provides convenient merchant features such as the Point of Sale (PoS or Cash Register) and Pay Code. The Point of Sale enables businesses to accept Bitcoin payments, whether on-chain or through Lightning, providing a seamless point-of-sale experience. The Pay Code feature allows businesses, fundraisers, and individuals to display a QR code that customers can scan and pay in seconds.
Map Feature: Explore the map feature in Blink to discover businesses near you that accept Bitcoin. You can easily locate these merchants and make payments directly to them by clicking "Pay to this business" on their pin location.
Earn Feature: Blink's Earn section offers a fun way to earn sats (small units of Bitcoin) by learning about Bitcoin basics. Answer questions correctly to earn sats, which will automatically appear in your wallet.
Buy and Sell Bitcoin First available for users in El Salvador.
With Blink, you have a comprehensive suite of features at your fingertips, making it easy to manage your Bitcoin, transact with merchants, explore nearby businesses, and even earn sats while expanding your Bitcoin knowledge.
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