Retail Locations to Offer Bitcoins
May 31, 2012
The virtual online currency Bitcoin will be available for sale at retail locations in the U.S., Russia and Brazil. BitInstant LLC says consumers can visit its Website to order the digital currency, print out a receipt and take it to a participating retailer, pay with cash and have Bitcoins added to their account within 30 minutes.
“This is now absolutely the fastest way for people in these three major markets to acquire Bitcoins,” explains Charlie Shrem, CEO of BitInstant. “It's become exponentially easier to make purchases and this increased liquidity will further broaden the appeal of the Bitcoin system.”
Bitcoin, controlled by cryptography rather than by any corporation or central bank, is the world's first private, decentralized digital currency and payment network, with a current market price of around $5 per Bitcoin. BitInstant did not disclose the retailers it has partnered with to distribute Bitcoins.