Today, Fastbitcoins.com, a service that allows everyday people to easily and safely buy bitcoins in physical retail outlets using cash, announces its public launch.
The company is founded by former Neo & Bee Managing Director and Bitcoin industry veteran, Danny Brewster. The launch follows a successful public test of the service from the back of a London Black Taxi in December 2018.
Fastbitcoins.com is building partnerships with merchants in the UK and Canada to empower them with a way to sell the currency. It will be sold to customers in a range of ways, including physical gift cards, prepaid vouchers generated through point of sale terminals; vouchers that are redeemable for bitcoin through the Fastbitcoins.com website; Bitcoin wallets that have integrated the services, and through a soon-to-be-mobile application.
For merchants, having the means to sell bitcoin vouchers provides an opportunity to differentiate from competitor stores with a unique offering. Despite the headline grabbing fluctuations of the Bitcoin market, demand for bitcoins remains high. More and more people are recognising it as a long-term store of value - just like gold as opposed to government money - and this will not change anytime soon. Physical stores are well placed to capitalise on this demand and start generating additional income.
With Fastbitcoins.com, selling the vouchers is easy and risk free. At a basic level the business provides merchants with the option to sell physical gift cards. It can also equip them with nifty sales terminals that look similar to a credit card reader. Each time a sale is made, Fastbitcoins.comstarts to pay out commissions.
Talking of the reasons for creating the company, Danny Brewster, Managing Director of Fastbitcoins.com, said: “Fastbitcoins.comprovides a quick, safe and incredibly simple way for anyone to get exposure to Bitcoin - for investment purposes, or for the tech savvy wanting to understand the technology a little better. We take away the current pain points blocking normal people buying bitcoins; there is no complex process involving signing up to a Bitcoin exchange or network and having to convert your money. Customers can now just walk into a Fastbitcoins.com partner shop and buy bitcoins with the same ease and speed as buying a prepaid telephone/cell-phone credit/top up voucher.”
Fastbitcoins.com is set up in a way that offers merchants and customers full transparency. The business never holds customers’ bitcoins: they are delivered to them within minutes of their voucher being redeemed. It is also committed to providing customers with total transparency around exchange rates and fees, and offers a competitive spread compared to other cash-to-Bitcoin vendors. It will be the first exchange that delivers bitcoins on the lighting network too, enabling our customers to experience the fastest and cheapest transactions.