Become a bitcoin micro-entrepreneur with new beta launch

Tuesday 18 February 2014

Seeing a growing number of established businesses and new entrepreneurs embrace bitcoin is an exciting sight to see. If you already hold bitcoins, it’s very pleasing to see more places to spend them. For many though, they may have heard of bitcoin, but either don’t hold any or hold very few. Sure you can buy any amount of bitcoins you’d like from an exchange, but in terms of earning bitcoins directly, your options are a tad limited. There are bitcoin faucets, though using them is often a very tedious and time consuming process for insignificant payouts. There are also some employers that pay in bitcoin, however these are often more technical lines of work that don’t suit very many people.

How is one supposed to directly earn bitcoins?

Well if you’re a digital content creator of any sort, then Coinbounce may be the ideal solution. Coinbounce is a website that allows users to place digital products up for sale and exclusively accept bitcoins. Currently it is in a beta stage with a heavy focus on allowing users to easily place their digital goods on sale. They do intend to create a marketplace for consumers to peruse such digital goods, however at present the promotion is left entirely up to the content creator.

Even at the moment, placing a digital item up for sale is very quick and simple. To do so, you must first create an account and designate a bitcoin address to which all revenues will be withdrawn. Next, you simply go to the “Products” section of your profile and add an item. From there, you can upload your digital content, give it a title and description, and give it a price in terms of a fiat currency. Keep in mind, however, that the US dollar is the only fiat currency supported at this time.

Although prices of goods on Coinbounce are denominated in fiat currencies, the content creator receives all of their revenues in bitcoin. Being that Coinbounce uses the Coinbase merchant tools to handle transactions, sellers do not have to worry about the fluctuating value of bitcoins, rather they can focus on promoting their product(s).

What more is there to come with Coinbounce?
I had the opportunity to ask TM, the founder of Coinbounce, some questions about the team and what the future holds for Coinbounce.

Daniel Mestre: What motivated you to develop Coinbounce?

TM: I’ve been following the bitcoin scene for a while, but only recently had the time to commit building something on top of that.
I find bitcoin an interesting piece of technology after reading Satoshi’s whitepaper.

We've got something here that has the potential to bring the world together, and as a form of money, allows anyone to trade with anybody in any parts of the world.

With computers, smartphones, and tablets being so widely used today, almost everyone has the opportunity to unleash their creativity and become digital content creators. When they do, they would probably be looking out on ways to easily monetize their creations.

And so i thought maybe we can introduce bitcoin here to fill in the gap since most people are beginning to recognize bitcoin as a form of digital money with low transaction fee and instantaneous processing.

So I started Coinbounce which is essentially a bitcoin micro-payment platform for digital content. The goal is to make it super easy for digital content creators (eg. a music composer, designer, etc.) to get down to business. And if they do not own any bitcoins, this would be a great platform to start owning without the need to buy-in.

DM: Do you see yourselves adding support for other cryptographic currencies?

TM: Yes we are certainly watching the altcoin space closely - looking at their respective market adoption and their capabilities over bitcoin.

So far the one cryptocurrency that caught my attention is Dogecoin. As you know, Dogecoin has gained a huge momentum quite recently with the amazing things they have done and their vibrant community. With people already tipping each other with Dogecoin, it would be interesting to see how it pans out on a micro-payment service.

So yeah, I think we are open to the idea of supporting more cryptocurrencies, but just not anytime soon.

DM: What other features do you foresee being implemented in the future?

TM: There are a lot of things that we want to do, but I think its important that we stay focused. Right now, we are mainly focusing on the selling aspect of Coinbounce.

We want to make sure sellers are able to seamlessly get their products out to the online market. Also for sellers who are new to bitcoin, it would be nice to help them get up to speed on learning how to accept bitcoin as a form of payment.

Ever since we beta launched, we have been getting quite a lot of feedbacks on how we can improve
Coinbounce and we are going through them carefully to see what we are going to work on next.

Other than that, I would say we have a bunch of small features in the pipeline that you will see us roll out over the next couple of weeks.

DM: Do you ever see yourselves raising funds to expand Coinbounce?

TM: Currently we are very happy with our bootstrap approach to Coinbounce. We’ve got complete flexibility to devote ourselves in building a great product.

Nevertheless, if things work out well we would definitely be open to raising money in order to accelerate growth and take Coinbounce to the next level.


By Daniel Mestre

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