At Coinsummit , we spoke at length with Dolf Diederichsen from Bit4coin. Bit4coin was featured in the startup showcase at CoinSummit. The business model is sound; offer Bitcoin to the public who can buy Bitcoin with fiat currency (Euro/dollar/whatever). This process will also generate an awareness with the general public and maybe even get them excited about Bitcoin.
How can you get Bitcoin? You can go to the site of Bit4coin and order a fixed amount of coins. During the Christmas holiday period of 2013, Bit4coin did a little project where they created about 1000 cards, with a value of 100 euros each. Over 60% was sold to countries like: Germany, France, Greenland and Italy to name a few. People from outside the European Union have to wait a bit to buy Bit4coin cards. This is mainly because of the EU regulations and restrictions.
“It’s only logical that we experienced a little slack after the Christmas holidays”, Dolf Diederichsen told CryptoArticles. “Because of this we are focussing in on new ideas that will be revealed at a later date. We are currently updating our site so ordering BTC is put on hold for the moment. However, we think our site will be open for business soon enough!”.
So what is Bit4coin exactly? It is a company where you can buy Bitcoin with real money and have a couple options available to you. The first one is that you can order X amount of Bit4coin cards. These cards will have the shape of a credit card and will be made out of plastic. This is ideal for small businesses and regular people alike. The only downside is that you will have to wait a bit for your cards to arrive.
The second option is for Bit4coin to email the codes to the buyer directly. This is easier, safer (since the cards can’t be lost etc) and the customer will receive the Bitcoins instantly.
We will keep you updated about this exciting new product.