Bitcoin ATM manufacturer BitAccess has in a recent announcement revealed that the cryptocurrency can be purchased across 6,000 retail storefronts in Canada, via a Flexepin voucher that works similar to a gift card.
Ottawa-based Canadian bitcoin ATM developer BitAccess has revealed that the cryptocurrency will be available for purchasing at 6,000 Canadian retail locations, via a ‘Flexipin’ voucher. The voucher can be purchased via a payment card or by cash and works like a gift card.
The voucher will be made available to shoppers across Canada and can be bought from a store cashier. Following the purchase of the voucher, a receipt is provided to the customer. 60 seconds later, the receipt can be redeemed for the cash equivalent in the cryptocurrency.
The vouchers will be available in denominations of $10, $30, $50, $100 and $250.
BitAccess has previously noted that it is unable to get its ATMs out in the real world “efficiently enough” in order to serve users who use the cryptocurrency as a transactional tool, rather than an investment. In a recent blog, the company called these users the “real users of bitcoin.”
The rollout of options to increase bitcoin purchasing and adoption by BitAccess comes within a month of another Canadian decentralized technologies hub Decentral, launching a similar service.
The Toronto-based disruption and innovation hub is providing ‘bitcoin cards’ that can be purchased at local retail stores across Canada. Buyers can purchase different denominations of the card before redeeming the card value for bitcoin via Decentral’s website.
With its endeavor, Decentral also revealed plans to offer Ethereum and other alternative currencies in exchange for fiat Canadian dollars in retail locations by the end of 2016. Decentral also owns a bitcoin ATM in Toronto. Along with the new bitcoin-for-cash initiative with the ‘bitcoin cards’, the plan is to increase adoption and availability of the cryptocurrency in Canada, Decentral founder and CEO Anthony Di Iorio revealed.
We’ve helped thousands of customers purchase bitcoin at our bitcoin ATM in Toronto, and our goal has always been to increase availability across Canada.
Featured image from Shutterstock.
Last modified: May 21, 2020 10:32 AM UTC