Navigating The Blink Convert Feature: Easily convert between your Bitcoin and Dollar account

Curious about setting it up and understanding its functionality? Keep reading…

What Is Blink Convert?

The Blink Convert feature enables users to exchange their Bitcoin for Dollar and also Dollar to Bitcoin at any time.

This feature provides crucial protection for holders who want to avoid potential Bitcoin price volatility or want to take advantage of it.

Keep in mind that Bitcoin's price fluctuates, and converting your Bitcoin into Dollar means you won't benefit from these price changes.

By converting Bitcoin directly to a USD-pegged value with a 0.2% spread, the dollar account provides a stable solution to volatility, ensuring consistent value for your holdings.

How does it work?

When you convert your Bitcoin to Dollar, the value becomes stable regardless of the amount converted. This feature protects against Bitcoin's price changes, giving you financial stability and peace of mind. It changes your Bitcoin into a stable value tied to the US dollar (Stablesats) without any extra fees.

This innovation supports various use cases, enhancing the utility of Bitcoin Accumulation Strategy for Payments:

It enhances the versatility of Bitcoin, making it a more stable and reliable medium of exchange and store of value eliminating Bitcoin Price Volatility

Learn more about Stablesats here

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Blink Convert Feature: Important Use Cases

• Users can convert Bitcoin to Stablesats without incurring extra fees than the 0.2% spread charge for conversions, making it a cost-effective solution for managing volatility.

• Businesses holding Bitcoin can use Stablesats to report stable values in their financial statements, avoiding the complications of Bitcoin's volatility.

• Users can accumulate Bitcoin over time and use Stablesats to make regular payments (e.g., subscriptions, rent) without worrying about price fluctuations.

• Imagine you have regular bills to pay and cannot handle the volatility of Bitcoin. With Blink's convert option, you can ensure your funds remain stable.

With the Blink wallet, users can set their dollar account as the default in the settings. This way, anyone, including merchants can receive bitcoin payments directly to their dollar account without needing to do the conversion. 

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Step-by-Step Guide on How To Convert your Bitcoin to Dollar or Dollar to Bitcoin with Blink.

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Converting From Bitcoin To Dollar

Right there on your Dashboard, you'll find the Convert Feature, so this is what to do:

• Tap the Convert option
• Select the percentage of your Bitcoin you want to convert or input the amount
• Click Next
• Then Click Convert 

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Converting From Dollar To Bitcoin 

• Tap the Convert option
• Click the Convert symbol
• Select the percentage of your Bitcoin you want to convert or input the amount
• Click Next
• Then Click Convert 

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Converting From Bitcoin To Dollar - on iOS 

Here's another way to access the Convert feature on an iOS device:

• Tap the Send option
• Enter your own username
• Follow the steps mentioned above

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FAQ

What is Stablesats?

Stablesats is a feature in Blink Bitcoin wallets that enable its users to hold a stable value equivalent to Dollar without converting their Bitcoin into actual fiat currency allowing users to maintain the benefits of using Bitcoin while enjoying the stability of the US dollar.

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How can I withdraw my Bitcoin from Blink?

To withdraw your local currency from your Blink account to your local bank, you can do so via Peer-To-Peer, through Bitnob (Exclusively for Africa), or Bitcoin ATMs…

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Is the Dollar Account in Blink similar to a regular bank account?

No, the Dollar account in Blink is different. It's known as a Stablesats account, tied to the value of Dollar, rather than being a traditional bank account with similar features and regulations.

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What happens when I convert my Bitcoin?

When you convert your Bitcoin, you eliminate the risk of Bitcoin price volatility, as the converted Bitcoin is transferred directly to Dollar (Stablesats) without any additional fees.

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Why should I convert my Bitcoin to Dollar?

Converting your Bitcoin allows you to avoid the volatility associated with holding Bitcoin directly providing stability for it.

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What are the benefits of converting Bitcoin to Dollar?

Converting Bitcoin to Dollar (Stablesats) offers a stable value alternative, shielding your Bitcoin from Bitcoin's price volatility while providing an easier management.

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