15 Jul Bitcoin Gets Physical in Dallas
Local startup BTC Vending implemented four new Bitcoin ATMs (BTMs) in Dallas this past month, in order to make accessing the bitcoin ecosystem easier for both new and experienced users.
Bitcoin, the most widely used cryptocurrency, has exploded in popularity since its inception in 2008. The current value is at 664.53 USD, a 47% increase from what it was just three months ago. Over 100,000 businesses currently accept Bitcoin, including some well-known brands such as Overstock, CheapAir, and Newegg.
While there have been concerns over the use of the currency in dark markets, and there is some uncertainty over future government regulations, there’s no sign that this currency is going anywhere. That’s why companies like BTC Vending are jumping into the industry. While Bitcoins are purchased via an online exchange or through a friend or coworker in the Bitcoin system. A BTM makes the transaction easy and instantaneous. All you need is cash to exchange.
Fintech (financial technology) is nothing new, as Tech.Co explained late last year. The ever-increasing use of online payment systems such as Paypal and mobile apps such as iPay has caused financial institutions to change the way they do business for many years now, and Benzinga warns that banks must adapt, or fall behind. The advent of digital currency will only continue to shape this ever-changing landscape.
What better place for that to be happening than DFW? With large financial companies like Primelending headquartered here, a thriving technology industry, and recent funding from LendTech, the next phase in Dallas fintech is primed for success. Don’t be surprised if you start seeing more BTMs around the Metroplex in the near future.