For Bitcoiners on the Red Planet

Mars Apr 1, 2021

This year has already been a huge one for fans of space exploration. NASA's Perseverance rover made a thrilling landing in Jezero Crater, and Elon Musk's SpaceX has consistently made headlines in his quest to bring humans back to the Moon and ultimately to Mars. Musk's case is particularly interesting because he's not just a space enthusiast, he's also a big proponent of Bitcoin, Dogecoin, and blockchain tech in general. In a number of tweets he's even identified crypto as a solution to how a Martian economy might work.

The Mars economy will run on crypto...and that's where we step in.
The Mars economy will run on crypto...and that's where we step in. Via Twitter.

As crypto proponents ourselves, the Coinmap team was inspired by this discussion. So inspired, in fact, that we set to work on a project that won't just complement Coinmap but will be a huge service to crypto users throughout the solar system. So for this latest entry in our crypto world tour, we're slipping the surly bonds of Earth entirely: instead of looking at the state of crypto in nations like Nigeria, Argentina, or India, we'll be looking at crypto on Mars through the lens of our new project,!

What is Coinmars?

A sneak peek at

Coinmars is guided by the same spirit that has made Coinmap a success over the near-decade of its operation. We believe that cryptocurrencies aren't just something you can hodl: they also offer brand-new opportunities for how money can be made, spent, and exchanged between people and across borders. That's why we've endeavored to make the most comprehensive list of Bitcoin ATMs and businesses that accept crypto here on Earth.

But when it comes to borders, nothing is quite so large as the 265.3 million kilometers between Earth and Mars. This distance will only become more noticeable as colonists begin to populate our neighbor, and traditional payment methods just won't cut it. As humans begin to arrive on the Red Planet, we believe it's likely that they will set up their own Mars-based blockchains and will use advances in blockchain interoperability to strengthen the economies of both planets. Soon, entrepreneurs on the Red Planet will be able to accept coins like Bitcoin and MarsCoin at their enterprises and send their funds to family, friends, or businesses Earthside. Coinmars will simply make it easy for everyone to know about all the crypto opportunities that are out there, no matter which planet you're on. As an added bonus, the data generated by Coinmars will offer unique insights into how economies develop on new planets from day one.

But how will I buy my crypto?

Of course, the tech-savvy nature of early Martian colonists means they will likely set up their own mining nodes and eventually their own networks. But the beauty of blockchain systems is that ledgers will be identical no matter the planet, so crypto users on Mars will still be able to transfer, purchase, exchange, and sell their crypto on Earth-based systems they already know and love. Our sister project, Invity, has already begun collecting the most trusted crypto exchanges into a single comparison tool. Anyone can use this tool to compare exchange rates and find the payment method that works best for them, whether that means credit or debit cards, bank transfers, or regional payment methods. To prepare for this step into the great unkown, Invity is working on its own Single Solar System Payment Area (SSPA) bank transfer protocol, making it simple for Martians to top up their crypto anytime they like. Plus, Invity will soon be rolling out a sell crypto feature for whenever early Martians might want to cash out into Martian fiat for a night out on the town...we hear there are already Vikings there, and we all know they party hard.

It's not just Viking 1 & 2...there are plenty more still to come.
It's not just Viking 1 & 2...there are plenty more still to come. Via Twitter.

We're thrilled to play our own small part in bringing Earth and Mars closer together through economic ties and the borderless language of cryptocurrencies. Look for the full version of Coinmars to be released sometime in 2025.

Coinmap and Coinmars give you the best places in the Solar System to spend cryptocurrencies. But before you spend crypto, you have to get some: our companion project gives you the best all-in-one place to buy, exchange, and save digital currencies.