Bitit, a Paris-based startup, has launched its in-person Bitcoin programme in over 100,000 worldwide locations.
Bitit offers in person BitcoinCT r: 8 purchasing via receipts ranging from €25 to €250 that are bought from cashiers, and can be redeemed for Bitcoin. It hopes to launch its prepaid plastic and digital gift cards programme soon. Making it easier to acquire Bitcoin
Co-founder and CEO of Bitit, Nicolas Katan, says, despite recent worries about Bitcoin , he is still a firm believer in the cryptocurrency . It allows consumers to avoid banks and credit cards , and the hefty transaction fees that come with them. And that is revolutionary, and vital as this in turn allows consumers to have greater controls over their own money.
However, he recognises that Bitcoin itself does have its own issues. Bitit hopes to solve two of the biggest, accessibility and fraud , which he says will make it easier than ever for average consumers to acquire the cryptocurrency. This is due in part to the fact that the fundamental system underpinning Bitcoin, the Blockchain , can seem incredibly complicated to those who are not technologically inclined, so they end up avoiding it.
Nicolas Katan, Co-founder and CEO of Bitit, says: “We have a vision to democratize Bitcoin for all. Bitcoin is a really great technology. But the problem for now is that it is complicated and difficult for people to access.” Preventing fraud
The other issue Katan believes faces Bitcoin is fraud; because of Bitcoin’s reported anonymity and low transaction fees, those wishing to launder money see it as a very useful option. This has led to high rates of fraud among in-person Bitcoin retailers, which in turn has meant retailers charge inordinate fees of up to 20% in an attempt to curb its nefarious usage.
Bitit tackles this […]
