Bitcoin store opening

 

bitcoin-noteAsia is set to receive the world’s first ever official Bitcoin retail store.

Asia Nexgen Bitcoin Exchange is opening a 400sqft bitcoin store in Hong Kong.

“The biggest issue people have right now is buying bitcoins,” says Lo Ken-bon, CEO of Asia Nexgen Bitcoin Exchange.

“So far, people have to put money in and trade it through an online exchange.

“Now, you can walk into the store, hand over your cash and send the bitcoins to your digital wallet.”

Bitcoin was founded by an anonymous online developer in 2009 and lets people make anonymous and untraceable transactions.

The nationless currency was once associated with drug smugglers and money launderers, but is now gaining momentum in the mainstream.

Last Novemeber, Adelaide-based jewellery retailer, Shiels, became the first Australian chain to offer payment by the currency.

Tony Bensimon, MD of Shiels, says the company decided to accept the ‘crypto currency’ after reading ongoing news reports about its emergence.

Internationally, websites have started selling everything from flatscreen televisions through to Lamborghinis with bitcoin as the currency.

Locally, Shiels is in the company of Australian pureplay electronics brand, Millennius.

Since its debut, the European Banking Authority has warned about bitcoin’s lack of consumer protections and China has even restricted its use.

Bitcoin Group HK says it plans to install bitcoin ATMs in Hong Kong’s International Finance Centre and Wanchai Computer Centre.

Hong Kong Bitcoin ATM also plans to set up a machine in Mong Kok.

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