You probably have heard of all the major endorsements and partnerships Bitcoin has garnered in 2014, effectively trading dollar value for market acceptance. The additions of Microsoft, Dell Computers and NewEgg are very important to Bitcoin's growth both now and in the future. But the…
Jones Bros. Cupcakes in Aksarben Village of Omaha, Nebraska has just received its new Bitcoin BTM from Zenbox of California. It is the centerpiece of a growing infiltration of Bitcoin throughout Omaha, with fifteen businesses joining Bitcoin in 2014.
“There’s kind of a start-up hum to it. The typical bitcoin user is generally an affluent male with tech experience, so Aksarben Village is right up our alley as far as what we’re looking for in terms of a potential.” says Edward Weniger of Alpha Bitcoin, the company responsible for bringing the BTM to Omaha.
Also read: Houston, Texas Recieves First Bitcoin ATM
The fees for the machine are between 5-7% per transaction, so the price of a Bitcoin is adjusted during the purchasing process. Zenbox and Alpha Bitcoin split the proceeds. With no merchant fees associated with each transaction, and the payment processing being both anonymous and untraceable, with few security risks for identity theft or data breaches, this is a very attractive payment alternative for Jones Bros.
“I think digital pay, period, whether it’s Bitcoin or something else, is the future of the industry. I rarely carry cash anymore, but I always have my phone,” Jones said. “I shouldn’t even say it’s the future because it’s starting to happen right now. We want to be a part of that, and we feel this is kind of our way to … level the footing with some of these larger corporations.”
How the Zenbox BTM works (assuming you have a mobile wallet on your smartphone before you begin) is you enter your smartphone number, and get a redemption code. Tell the BTM how much BTC you would like to buy, scan your wallet’s QR code, add your cash to the machine and your wallet updates accordingly with the proper amount of BTC.
Selling BTC through the machine is also possible. Choose “Sell Bitcoins”, enter the amount, and enter your phone number and receive a text message with a redemption code (this can take up to 10 minutes). Then, enter the redemption code in the machine, and it dispenses the cash, and updates your mobile wallet balance.
To increase awareness, Jones Bros. will host a “Launch Party” for Jonas from 5 to 8 p.m. on Jan. 16, featuring free cupcakes, drinks and prizes.
Zenbox/Alpha Bitcoin charge 5-7% per transaction, in a place with zero competition.
What is the proper BTM fee for a transaction? Share above and comment below.
Images from Shutterstock.
Last modified: January 25, 2020 10:08 PM UTC