bitcoin cash
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Bitcoin Cash is being given out to people in Bakersfiled, California from an anonymous person that goes by “bitcoinbakersfield” on Instagram. According to local reports, this individual is creating a scavenger hunt experience, where people can find hidden stickers and scan QR codes with their phones. Based on the sticker type, people have redeemed anywhere from $5 – $500 in ( BCH ). Many believe this is a push to market the Bitcoin wallet app created by Bitcoin.com 

Bitcoin Cash Giveaway

According to to a local media report, an anonymous person who goes by “BitcoinBakersfield” on Instagram is giving out free BCH in Bakersfield, California. Residents in Bakersfield are reporting that stickers are hidden throughout the town that provide QR codes that people are scanning with their phones. In doing so, residents are redeeming free Bitcoin Cash. According to “BitcoinBakersfield” on Instagram, they plan to give out $1,000 in BCH to people that find the hidden stickers. In a push to give out $1,000, residents have come across stickers that offer $5, while others have found rare “gold tickets” that have given away $500.

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Residents are skeptical, but it appears to be a valid promotion to market an app 

With cryptocurrency still being foreign to the masses, many residents who came across stickers in Bakersfield were skeptical. For most, this was the first time that they were receiving cryptocurrency through a digital wallet. According to the report, Joe Gregory, the President of Grapevine MSP Technology does not believe it is a scam, stating that:

“To me it appears they’re running a promotion to run Bitcoin.com, which is a Bitcoin wallet company. So the real draw there would be to get people signed up for their wallet system.”

Stickers Direct To Bitcoin.com

After scanning the QR codes on stickers, residents are redirected to the Bitcoin.com app which is used by many people in the crypto space to store and spend Bitcoin and Bitcoin Cash. It is important to note that Bitcoin and Bitcoin Cash are two separate digital assets. BCH came to existence due to a fork in Bitcoin. In cryptocurrencies, a fork occurs when code of a certain blockchain is updated. In this scenario, there was a fork in Bitcoin in which all the nodes ( computers ) did not agree in. The result was some of the nodes leaving the Bitcoin blockchain, and creating a new blockchain that fuels the cryptocurrency Bitcoin Cash.

Introducing Bitcoin Cash To The Masses

As discussed above, the ticket “scavenger hunt” like experience in Bakersfield seems like a way to promote the Bitcoin.com mobile app and also introduce people to BCH. When people download the application and receive Bitcoin Cash, they will quickly find out that with Bitcoin Cash, one can send money anywhere in the world for free with no permission needed from a central party like a bank or government. Aside from people having the ability to store, purchase, and exchange Bitcoin Cash on the digital wallet app, people can also spend their Bitcoin Cash like normal money. The built in interactive map helps people locate merchants that are currently accepting crypto-assets.

Crypto Giveaways

With cryptocurrency still being in its infancy, many scams have penetrated the markets. Despite this giveaway not appearing to be a scam, it is important to never give out any personal information. In addition, one should always do their own research and weigh the potential risks before engaging in any giveaways.

Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice. This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.

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