Mobile Commerce Insider Featured Article

July 10, 2014

Latin American Firm Allowing Customers To Buy Bitcoin For Cash

There may not be any bigger indication that bitcoin is becoming bigger and more popular around the world than the announcement by ZipZap that it has made moves making it easier for customers in Latin America to buy the digital currency. People in this area of the world will now be able to purchase bitcoin using cash, something that more than 170 million people were not able to do before now.

While it seemed like bitcoin might fade into obscurity as some companies made moves to basically make the digital currency something that wasn’t readily available, those same companies are starting to warm back up to bitcoin. Most notable is Apple’s recent about face. After initially wiping out any application that allowed for the trading or accumulation of bitcoin, the Cupertino company has recently started allowing those applications back in its app store.

Businesses around the world have started to announce they will accept bitcoin as payment for goods and services and it is these moves that has made it worthwhile for people to start investing in the digital money again.

Industry insiders say Latin America, in particular, is poised to for some rather explosive growth when it comes to digital currencies. Customers that deal in cash, otherwise known as “unbanked” are seeing a growing distrust in retail financial institutions thanks to inflation and high interest rates. That distrust is steering more people towards wanting to purchase bitcoin in big numbers.

ZipZap is specially set up to offer the ability to purchase bitcoin with cash because it has already been doing so in Brazil since 2013. The company is now going to be offering up the service in other Latin American communities such as Argentina, Chile, Mexico and Peru.

ZipZap has made it quite easy to purchase bitcoin. People are able to logon to ZipZapinc.com and select the amount of bitcoin they want to buy. They can then select the payment options including cash. Once payment is received, the company will process the order with an exchange company that offers the best price.




Edited by Adam Brandt




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