We love Bitcoin. We like to hoard and hodl. At the same time we believe that we have to start spending and using them in order to spread adoption and usage. We created an online service, called Reload, which we developed initially for our BTM operation (for automated repurchasing of spent bitcoins on selected exchange and automated reporting - turned out super practical for our tax audit, which we passed with green light).
We have started to use Reload for our own personal needs as well. Reload’s backend has been tested extensively and we are now ready to launch it for the public and share it with all of you for free! We hope you might find it as useful as we do!
Reload is open and ready for use: https://reload.bitnik.eu
Reload FAQ: https://reload.bitnik.eu/partials/faq.html
Please feel free to ask us anything!
For general queries, any kind of feedback, future features wishes or suggestions, UI or general service feedback or improvement suggestions: [email protected]
Who is behind Bitnik Reload?
Bitnik team, a bitcoin startup of 6 team members and Bitcoin aficionados from Ljubljana, Slovenia. We launched our first Lamassu BTM almost a year ago, have persuaded many of the local merchants to start accepting Bitcoins and have created the video Bitcoin in Ljubljana to spread the idea of Bitcoin among the general public: https://vimeo.com/114190446
Bitnik homepage: https://bitnik.eu/en/
We use Bitcoin to pay regularly at the local merchants in order to show support toward their acceptance of bitcoins. At the same time, we are using Reload to rebuy them immediately after spending. Did we say that we love Bitcoin?
RELOAD IN DETAIL
Reload is a service that binds your Bitcoin wallet to your account at a Bitcoin exchange so that whenever you spend from the wallet, the same amount of coins will immediately be bought back for you at the exchange. Bitnik Reload effectively enables you to pay for products and services from your fiat balance while using bitcoin as a payment network.
BITNIK RELOAD FEATURES
Independence: Reload supports several wallets and many exchanges out of the box. If one exchange happens to be down, you can switch to another with a few clicks.
Ease of integration: All necessary configuration is done in Reload, except for one-time creation of the exchange API keys that is done on the exchange. No configuration of the wallet is necessary.
Safety: We never can, or want to, have direct access to your funds. Your private data (Bitcoin addresses and exchange username) are always transferred in encrypted form, and the most sensitive data (API secrets) are stored encrypted.
Privacy: Since we never manage your funds, we don’t require you to provide any personal data; an e-mail address so we can reach you is enough. You can also deny Reload access to data from your exchange account (past trades, balance etc.) on exchanges that support this.
Speed: Under normal circumstances, Reload will repurchase the bitcoins you spend in seconds.
Reliability: If an exchange is down temporarily, Reload will repurchase your bitcoins when the exchange becomes available again. The same goes for cases where your account lacks funds, or your API keys lack permission etc.: Reload will do its job later when it can. Reload will also take care of each exchange’s quirks (like minimum order amounts), market volatility (retrying if orders don’t get executed immediately), and other uncertainties of the Bitcoin exchange world.
Availability: Our software runs on Google’s servers, providing extremely high availability. Our own Lamassu BTM has been using Reload for repurchasing sold bitcoins for months.
Transparency and reporting: If you’ve ever done manual repurchases of your spent bitcoins, you know exact accounting can become complicated since payments and exchange trades often don’t match one-to-one. Reload takes care of this for you and calculates the exact price of repurchase for each payment even in the complicated cases.
SUPPORTED EXCHANGES & WALLETS
Currently we support the following exchanges: Bitstamp, ANX, BitcoinToYou, Bitfinex, BitVc, Bleutrade, BTCChina, BTC-e, BTCTrade, CexIO, Hitbtc, Kraken, Loyalbit, OkCoin, TaurusExchange. We are adding new supported exchanges according to popular demand.
In general, Reload currently supports any wallet that uses a single address. Wallets that automatically cycle addresses (even change addresses), either randomly or deterministically (eg. using BIP 32 / HD-wallets), are not yet supported; support for BIP 32 is planned.