Bitcoin Payment Network Expands Worldwide

BitInstant LLC recently announced that Bitcoins can now be purchased at ‘hundreds of thousands’ of retail stores across the United States, South America, and Russia.

Using these new services, people can purchase Bitcoins and expect to have the digital currency available within the hour, which is a big improvement on the typical wait of up to two days prior to this.

The main aspect of this is that it makes Bitcoins much easier to purchase now using cash. Credit and debit cards are not accepted, because of the dangers of chargebacks. which are not permitted in the standard user-to-user Bitcoin transactions.

Here is n excerpt from the recent article:

Using these new locations, anyone can obtain Bitcoins within minutes of payment, a process that previously took several days. By simplifying this exchange, customers now just visit BitInstant’s website, print out a receipt, and deposit physical cash for the virtual currency at their nearest retail or convenience location. Bitcoins are credited to their account within 30 minutes.

This solves one of the convenience problems associated with Bitcoin purchases – they are now far easier to acquire. Credit cards and Paypal have typically not been accepted, because those payments are reversible, whereas Bitcoins are not (enabling the seller of Bitcoins to be defrauded with a chargeback). This dynamic has made obtaining Bitcoins a lengthy and confusing process. BitInstant hopes to change that.

You can read the full article here: Bitcoin Payment Network Adds Hundreds of Thousands of Locations Worldwide

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