QR Codes and Cryptocurrency

We've all seen those little coded squares online and in stores. Coin Pursuit shows how QR codes can simplify matters for both investors and merchants.

In a previous section, we touched upon the use of QR codes, and how they can be used for in-store purchases using digital currency. We'd like to expand on that topic in more detail here, because those handy little codes can be used in several other ways.

First, a QR code can be created to contain the unique information that corresponds to a specific amount of currency, be it a full coin or a fraction created after a small transaction. These codes can be printed out and stored—safely and offline—in a paper wallet, safe or safety deposit box. This offline storage method—as we outlined here—assures no one has access to your cryptocurrency until it is to be traded or spent. It can't be hacked, since it's not stored online, and the slip of paper containing the currency code can be physically handed over to a fellow investor or merchant. This method offers investors not only full and secure control of their holdings, but a physical representation of their digital currency, as well.

Investors can also make custom QR codes that contain their public keys. Account holders need these codes for any transaction they may wish to make, whether it's for a purchase or currency trade. These QR codes can be posted on a trader's profile on an exchange, on a personal blog or website—anywhere they'd like their public key available for the exchange of currency.

Merchants can take advantage of QR codes on websites, as well. Not only can they provide their public keys—which makes online purchases or donations a snap for interested customers—but other information can be embedded in the little square codes, too. If a business owner wants to advertise an upcoming sale or special, or would like to offer an electronic discount or coupon for their loyal customers who use cryptocurrency, a QR code is the perfect place to make that happen.

QR codes can be placed pretty much anywhere you can find text, whether it's online or in a store window. They're perfect not only for rewarding current customers, but for drawing new ones, as well. 


Next Merchants Topic: Transaction Amount Limits 

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