Bitcoin users have got plenty of choice when it comes to Bitcoin ATMs in Boston thanks to LibertyX, a company that originally made and operated Bitcoin vending kiosks. The latest development is that the company has expanded to let any store sell Bitcoin for cash at the register, just like anything else they have in stock.
Thus, now, users can pick up some Bitcoin with that bottle of soda and bag of chips at the store down the street without much hassle. Talking to media professionals, Kyle Powers, co-founder of LibertyX, formerly known as Liberty Teller said that now users can get a Bitcoin code just paying the money in exchange, this is as easy.
The procedure has been made easy for Bitcoin users. What they need to do is pay the cashier and in return ask for a pin number, which can be redeemed for Bitcoin. LibertyX is working with 2,500 stores, mostly local businesses including convenience and computer stores, across the country in the obvious places like Cambridge and San Francisco.
However, the services are not limited to Cambridge and San Francisco as it is also reaching to less obvious places such as Lowell and Missoula, Mont. Though the traditional Bitcoin ATMs are popular even now, Powers says that the move away from dedicated ATMs that sell Bitcoin came from overwhelming demand.
Bitcoin Transactions Being Made Easy
He admitted that they had people driving for hours and the whole thing was to reach areas that we couldn’t otherwise. Nonetheless, he even goes to the extent to say that his organization is doing the same thing (as the ATMs), just cheaper, faster, more convenient. From the whole process the Bitcoin users who don’t wish to bother using BTC ATM will benefit a lot.
The company has set its goal right and to expand further it has raised a little more than $400,000 in private investment and according to it Project 11, the venture capital firm headed by Katie Rae, Reed Sturtevant and Bob Mason, formerly of TechStars Boston, have been providing great support through their investments.
According to Powers though a lot of things have been said about the ups and downs of Bitcoin, the digital currency still continues to enjoy trust among users. He says that Bitcoin is like gold, except the market is a thousand times younger and what the organization is doing is a fundamental, foundational piece of the Bitcoin ecosystem.
To contact the reporter of this story: Deepak Tiwari at firstname.lastname@example.org