Frequently asked questions

A bill of exchange is an unconditional order by one party (drawer) directing another party (drawee) to pay a sum of money to a third party (payee) at a future maturity date.

It is a bill of exchange – a time-proven, private payment instrument – in a digital format called 'eBill'.

A bill of exchange is a very secure instrument with very fast legal recourse in case of payer default.

A United Nations Convention regulates them, world-wide. so almost certainly..

A holder can either wait for maturity, or get liquidity: (1)  endorse it (2) sell it, or (3) mint it.

At maturity, the holder must request payment, and the payer must send the amount within two working days.

A holder can pass on an eBill to a new holder by signing it electronically. 

A holder can endorse the eBill to a buyer against verifiable receipt of Bitcoin on mainchain.  This is a novel feature of Bitcredit. 

A holder can request a Bitcredit mint to 'split' an eBill into eCash, fungible and divisible 'minibills'. This is a novel feature of Bitcredit. 

Only 'real' eBills can be minted. Real means a maturity of no more than twelve months and issued in payment for delivery of goods.

The involved mints will verify the commercial invoice to ascertain if it is a 'real eBill' where goods were delivered.

Mints will quote a small fee for their service. Your selected mint will retain the equivalent ecash.

Eligible real eBills must mature in twelve months or less. 

The mint splits the incoming Bitcoin payment automatically to current eCash holders.

Bitcredit eCash are electronic tokens representing 'minibills', i.e. eBills which were cryptographically split by a mint. 

With eCash, you can pay anybody anytime anywhere: world-wide, instantly, 24/7, and without fees.

You just need a Bitcredit Wallet. You can set one up in any browser in less than a minute. No paperwork. 

Anybody can receive ecash on their devices, smartphones, tablet, computers. 

Yes, you can use the free app on any smartphone to accept Bitcredit eCash via Tap-to-pay (NFC) or QR code with zero fees. No contract or bureaucracy involved. POS terminal providers can also add Bitcredit functionality easily. It is free open software.

It is an open source software for creating, negotiating, and managing eBills. The app is open source, free to download and use.

The app between businesses.

You have all your credit matters at your fingertips, with perfect overview and reminders. 

Ebills are now digital and available in any currency, running on unstoppable Bitcoin rails.

There is no server. Bitcredit is a peer to peer network running on users' devices only. 

With Core you can access easy liquidity, credit scores, credit insurance, and FX hedging.

Bitcredit Core is free. There is a small minting fee, if the minting option is used.

Just click here and contact us to get early access and become a Beta User.

It is an open source software for ecash managment, free to own and use.

The wallet is for everybody, businesses and people alike.

You pay and get paid, locally and remotely, worldwide, instantly and without fees.

It needs no bank, no credit card, no bureaucracy. Just you and your money.

Just click here and contact us to get early access and become a Beta User.

Bitcredit Wallet and transactions are free of charge.

Bitcredit Mints split ebills technically into fungible, divisible 'minibills' called ecash.

Any person or company can download the Mint software and run a mint node. 

Upload your business information. In "Settings", request "Mint connection", and select an offer.

The app shows a rating which depends on its guarantee capital in relation to issued ecash.

For choosing a mint the user should consider e.g. the proposed minting fee and the offered volume/maturity limits.

Bitcredit Protocol is developped by an open source community, similar to Bitcoin, Firefox, or Linux.

Bitcredit is written in the Rust programming language. It uses Bitcoin, Nostr, and Cashu technologies.

There are no servers, Bitcredit is a peer-to-peer network which runs on end users' own devices (e.g. smartphone).

There is no data center. All data stored on users' devices is encrypted and decentralized.

Yes, it available under the MIT license. Anybody can freely run and use Bitcredit Core.

There is no need for a download, simply launch it on any device by clicking a link. Click here and contact us to get early access.

Bitcredit Protocol is a credit money layer on top of the Bitcoin network.

Nostr is a software protocol used for decentralized and encrypted communication.

Cashu is a software protocol for electronic cash, extended by Bitcredit for minibills.

When a payer fails to pay on time at maturity, the ebill is considered dishonoured.

The final holder can seek recourse against any prior holder of the ebill, all the way back to its issuer.

The app integrates a marketplace with a selection of credit insurance options.

The mint can seek recourse just like any holder.

Ecash is not affected. Bitcredit Mints hold verifiable backing for their ecash issuance at all times.

No. An intermint exchange mechanism protects all users of ecash, regardless of their mint. All Bitcredit Mints together form the Bitcredit Network for 100% uptime and reliability.

No. The other mints supervise and can punish an offending mint by repossessing its assets.

Mints hold verifiable assets on Bitcoin mainchain which prove their ability to absorb losses.