18th February 2015 Events Coinify joined Bitcoin Funfair Coinify proudly took part in Bitcoin’s largest consumer festival, so here’s a few highlights we took away from the event… The media have classified Bitcoin Funfair as the largest of its kind. Bitcoin Funfair is a festival organised for the general public to demonstrate how the currency works in practice. This event took place last weekend, 14th-15th February 2015. The festival uses a hands-on approach to the currency by demonstrating to new users how the currency works in practice. Each festival goer was encouraged to exchange a minimum of 100 SEK for BTC to use at the event. Newbies to the crypto-currency were given assistance by the festival staff to set up their own bitcoin wallet. Nanok Bie, one of the event’s organisers kindly shared with us: “The purpose is to educate, increase awareness on Bitcoin with a rings-on-the-water strategy. We’ve found that when people try out bitcoins for real, with a wallet of their own, in their own phone – they usually have a very positive experience.” Exchanging to Bitcoin is quick and easy Those who think that it is a hassle or even time consuming to convert to bitcoin could not be more wrong. Bitcoin is fast and easy! The festival organisers teamed up with several bitcoin exchange companies to set up Bitcoin ATM’s (BTMs) and exchange stands. Coinify’s Lasse and Mark set up a bitcoin exchange stand, and from their experience it took users on average less than 1 minute per exchange. Shopping everyday items with Bitcoin The festival’s visitors, once loaded with bitcoin in their wallets, freely browsed the festival’s stalls where the stands were selling clothes, home decor, jewellery, artwork, vinyls, face painting, food, refreshments and a range of everyday practical items in exchange for bitcoin. The event also hosted workshops, live music, dance and theatre performances to compliment the fair as a whole. One try is worth a million explanations As the author of ‘Mastering Bitcoin’ Andreas M. Antonopoulos says, “Bitcoin is easier experienced than explained”. We fully agree. The crowd came to share their thoughts of excitement and curiosity about bitcoin with us. Lasse and Mark have fully practiced their ‘what is Bitcoin’ pitch during the discussions with the visitors and ‘why to accept bitcoin’ with the traders. It was great to be part of many participants’ first bitcoin experience. We also learned a lot from the traders who are considering bitcoin payments. They have fears of being restrained by holding the crypto-currency. Fortunately, this is not the case with Coinify as we allow our users to choose exactly how they want to be paid, that being in local currency, bitcoin only or a desired ratio between these. Great place for mainstreaming Bitcoin Every newly converted Bitcoin user means an addition to the ecosystem we aim to build. We believe that this process takes place on more fronts: the government, businesses, and the consumer. The fair provided a perfect opportunity for the adoption of crypto-currency by the local merchants and consumers. In general, Coinify attends business conferences to introduce Bitcoin to the professionals in finance and related industries. However, it has been a worthwhile experience to spread the word about Bitcoin with the Funfair participants in a friendly one-to-one manner. We want more Bitcoin Funfairs! The Funfair was a huge success and definitely worthwhile participating. We would love to hear about more related events to come. Will it be our turn in Copenhagen this time? To learn more about Coinify products, visit our website. If you want to get in touch, please use our contact page. For media, event, investor enquiries and more information about Coinify, please use our Newsroom.