In the world of Bitcoin and digital currency, convenience plays a key role for a majority of the userbase. Buying Bitcoin in a convenient manner remains a challenge for most novice users, as they would prefer to use traditional payment methods such as PayPal and credit cards. Coinizy, on the other hand, is doing something different by launching the world’s first Bitcoin to PayPal exchange.
Buying Bitcoin still remains one of the biggest hurdles to overcome for the mainstream audience that the community so desperately wants to reach. Once a person runs out of Bitcoins in their wallet, they have to look for a quick and convenient place to purchase more coins. This is not always an easy task, but Bitcoin startup Bitnik Reload aims to change all of that.
Despite Europe being far more open to the idea of Bitcoin and other virtual currencies, there are still quite a few hurdles to overcome when purchasing Bitcoin for the very first time. There are already various exchange platforms available to European customers, but having more competition in this market can only be beneficial in the long run. CoinCorner, a reputable Bitcoin exchange based in The Isle of Man, has now expanded their services to European customers.
One of the most popular ways of buying and selling Bitcoin in exchange for fiat currency comes in the form of a Bitcoin ATM. Similar to how a bank ATM operates, Bitcoin Teller machines can accept fiat currency bills or hand them out, depending on which type of action the consumer takes. But how is the Bitcoin ATM landscape looking today? Let’s find out!
Bitcoin exchanges have to keep up with the competition if they want to stay relevant while adding innovative new features to their platform. Sometimes, those new features come in the form of taking a huge gamble to facilitate the buying and selling of Bitcoin. Even though credit cards were never intended to be used for online purchases, Bitcoin exchange Coinbase will start accepting card payments very soon.
Coinbase’s Aggressive Expansion Plan
The name Coinbase is synonymous with buying and selling Bitcoin in the United States, as well as 27 other countries around the world. Ever since the company opened its doors to the public, it became adamantly clear Coinbase was forging a path of expansion and did so at an aggressive rate.
It will only be a matter of time until centralized Bitcoin services will feel the wrath of the traditional financial ecosystem as we know it. Several Bitcoin exchanges have been struggling to find reliable banking partners in recent years and certain banks started halting all transfers involving Bitcoin. But when Bitcoin service providers start freezing funds and banning bank accounts themselves, things are starting to look very worrying.
Even though many customers are still struggling with the idea of purchasing Bitcoin from an exchange through bank transfer, there are other solutions available. Not just in the form of using Bitcoin ATMs, which are also a great way to buy Bitcoin. Bitcoin exchange 247Exchange is making the process of buying Bitcoin with a credit card even smoother than it was before.
Making The Bitcoin Buying Process More Consumer-friendly
In our latest article on how to buy Bitcoin, we mentioned that using a credit card is not possible when it comes to Bitcoin from most traditional exchanges. However, there is one emerging exchange that has integrated card payments for buying Bitcoin into their platform. 247Exchange.com is best known for allowing purchases and withdrawals through most major credit cards.
Buying Bitcoin has become increasingly easier in the past few years, with so many exchange platforms and Bitcoin ATMs popping up all over the world. That being said, buying Bitcoin remains one of the most difficult hurdles to overcome for novice users. Plus, verification procedures are not making matters any easier.
Buying Bitcoin – What Do I Need?
Before you can start buying Bitcoin, there are a handful of things you will need. First of all, you will need to install a Bitcoin client, either on your computer or mobile device. The installation procedures are very straightforward and self-explanatory. Once you have a Bitcoin client installed on your preferred device, a new wallet address will be generated on your behalf. This address is of great importance, as this is where your future Bitcoins will be sent to.
More and more Bitcoin wallet providers are starting to explore the possibilities of launching mobile buy-and-sell functionality within their application. In the case of Bitcoin wallet provider Airbitz, the customer is not necessarily tied to using one specific Bitcoin exchange for buying and selling goods. For the time being, this feature will only be available to US customers, but the company hopes to expand the service on an international scale relatively soon.
The usage of Bitcoin in Spain has been on the rise in recent months, thanks to various efforts by companies such as Chip Chap. Additionally, a few new Bitcoin ATMs have also been installed at prominent locations in Barcelona, which could boost BTC adoption. And Coinay has launched a voucher system, allowing customers to buy Bitcoin from retail locations.
Coinay – Buying Bitcoin with Vouchers
One of the main issues which novice users struggle with at the moment, is buying their first Bitcoin(s). Signing up for an exchange and verifying your identity is a tedious task, requiring a ton of personal information that not everyone is eager on handing out. Plus, in most cases, you have to wait a few days before this process in completed.
The current financial situation in Greece is causing both excitement and trepidation in the Bitcoin world. Whereas many speculators believe that Bitcoin is seeing a price increase due to the pending Grexit, there are no official statistics to stave that claim. But that isn’t keeping major exchanges from trying to cater to the Greek population either.
Greek Citizens Inquire About Bitcoin
With the Greece economy on the brink of collapsing, citizens are looking for alternate ways to get rid of their money which is being tightly controlled by the banks. However, the options are fairly limited for the Greek population, especially because it is almost impossible to move your funds out of the country right now.
Many digital currency enthusiasts around the world are very excited about the new peer-to-peer trading platform Coinffeine, which is currently in private beta testing. Rather than using the traditional approach by the major exchanges, Conffeine is trying something entirely different and aims to improve the model set by LocalBitcoins.
Coinffeine To Solve Lack Of P2P Trading Options?
In the world of Bitcoin and digital currency, there are two types of exchanges: traditional exchanges such as Kraken or Bitstamp, which hold your funds until you execute a buy or sell order. On the other hand, there are peer-to-peer exchanges like LocalBitcoins, who never touch user funds and match buyers and sellers, rather than buy orders and sell orders.
The battle to become Canada’s next major Bitcoin exchange is far from over, as more and more companies are focusing their attention on that region of the world. The latest major name to join the fray is none other than popular global Bitcoin exchange Kraken, thanks to a partnership with Vogogo.
Kraken Sees Potential in the Canadian Market
It goes without saying that expanding the Bitcoin exchange business to Canada is a logical step for any established company in the space. With most of the major Canadian Bitcoin exchanges shutting down in 2014 and 2015, there is a power vacuum that needed to be filled by other companies, such as QuadrigaCX.
Catalan-based Bitcoin company Bitchain recently installed two additional Bitcoin ATM’s in the city of Barcelona. What makes these machines so important, is that one of the ATM’s is installed in one of Barcelona’s major shopping centres, which is the first of its kind to be placed in such a high-profile location.
Bitchain – Bringing Bitcoin To The Masses At Convenient Locations
The mission of Bitchain is simple to explain: bringing digital currency to the masses at high-profile locations by using convenient methods. Rather than following the lead of companies offering over-the-counter purchases of Bitcoin, Bitchain sticks with the more traditional business model of deploying digital currency ATM’s in Spain.
Making Bitcoin more usable for the everyday consumer is a difficult hurdle to overcome. Not just because it is hard to get Bitcoin into the hands of people in a convenient way, but also because there are not enough “real life” use cases at this time. BitMD is looking to change that, by allowing clinics to accept Bitcoin payments.
BitMD – POS Terminals, Bitcoin Wallet Software, and Teller Machines
The name BitMD is relatively unknown in the world of Bitcoin and digital currency. However, that may not be the case for much longer, as the company has unveiled their ambitious plans to allow for patient payments in Bitcoin at clinics. In order to do so, BitMD will be combining all of their services to bring over-the-counter Bitcoin payments to medical payments.
One way to get Bitcoin into the hands of more everyday consumers is by creating more convenient ways to acquire digital currency. In Taiwan, you can walk into most major convenience stores and buy Bitcoin over-the-counter or from a terminal. But for those of us who would rather stay at home to buy and sell Bitcoin, MonetaGo may be of particular interest to you.
MonetaGo Available in 40 Countries
Whenever a new Bitcoin exchange platform launches, it’s usually without a joyous parade because it is a very local launch. With MonetaGo, however, there are no parades either, but they have launched their services in 40 countries simultaneously. In doing so, the company has already taken up a “global” presence, something that many smaller exchanges struggle with at the moment.
A new trend in the world of Bitcoin and digital currency involves bringing consumer’s attention to using alternative payment methods. One way to tackle that problem is by bringing Bitcoin and digital currency to convenience stores, which are part of our everyday lives. Similar initiatives have taken place in countries such as Mexico, and it looks like Taiwan is next.
Despite Bitcoin being associated with nefarious activities and often being dubbed as “magic internet money”, there is a vast interest in people who want to obtain a piece of this digital currency. Overall Bitcoin trading volume has been increasing over the past year or so, and peer-to-peer marketplaces such as LocalBitcoins have seen a tremendous growth in volume as of late.
LocalBitcoins – Peer-to-peer Bitcoin Trading On The Rise
Exchanging Bitcoin to and from local fiat currency can be done in multiple ways. Due to Bitcoin’s decentralized nature, there is no need to rely on exchange platforms to complete trades, even though their engines match buy and sell orders automatically. Proper Bitcoin exchanges are a luxury and a convenience, but not a necessity.
Bitcoin platforms around the world are constantly monitoring their security implementations, and they are forced to adapt where necessary. The traditional “username and password” combination is far from secure, and most services will allow you to set up two-factor authentication as an additional layer of security. BitQuick, on the other hand, has integrated Clef 2FA into their platform, which also removes the “password” part from the equation.
Clef 2FA – Eliminating Passwords
When it comes to using any online service, the more traditional way of accessing your account occurs through entering a username and password. Even though you can generate fairly secure passwords these days – by using tools such as LastPass – it is not the most secure solution to protect customer data.
So many mobile bitcoin wallets to choose from, and we are still looking at one that will suit my personal needs. Even though some fantastic candidates have been reviewed already, you just never know what the next mobile Bitcoin wallet might bring to the table. Keeping that train of thought in mind, let’s take a look at SpectroCoin Bitcoin Wallet!
SpectroCoin – The All-in-one Bitcoin Solution
Most of our readers have probably never heard of SpectroCoin before, even though we recently did an article on their progress regarding Bitcoin in the Baltic states. But have no fear, as we will quickly recap what this company does and why they think their services can become invaluable to Bitcoin users worldwide.