Bitcoin and Dash Can Be Spent in 40 Million Stores

Digital currencies can cause big changes. According to Bitmain CEO Jihan Wu, crypto money is the basis for a paradigm shift in the way the world interacts with money and finance.. To put it in his own words:

“Bitcoin basically provides what gold, cash and the credit card system do by itself.. Taking the strengths of each and leaving behind the weaknesses. For example, it has the speed of credit card payment but protects your privacy. Payment transactions can happen instantly like cash payments, but they are recorded on a public ledger.”

Accessibility problem

Bitcoin and other cryptocurrencies have a very important problem : Accessibility. Accessing cryptocurrencies is quite difficult for a new user.. Even the easiest and fastest ways seem cumbersome for someone who wants to hold a small amount of Bitcoin.

Getting Bitcoin in its simplest form requires at least a bank account or credit card. Approval of ACH is sometimes instant, but sometimes it can take more than a day. Things get even more complicated if the user wants to buy larger amounts of Bitcoin. “Know Your Customer” and “Anti-Money Laundering” laws require you to share your personal documents. It doesn’t end there, you have to decide in which wallet you want to keep the Bitcoin you receive.. If you want to buy different coins, you send your Bitcoins to a different exchange and get your favorite altcoin from there. All these are pretty tedious procedures for people who are not very good with technology.

Bitcoin ATMs

There have been some attempts in recent years to overcome these accessibility challenges. Bitcoin ATMs were one of them. The user was receiving a paper with a Bitcoin key printed from the ATM in exchange for the cash deposited at the ATM.. Some ATMs require surveys and documents, some are one-way (buy only) and are usually only located in areas with a lot of foot traffic.

Debit Card

Bitcoin debit card brought a different solution to these problems. Users keep their bitcoins in wallets of credit card providers so they can spend bitcoins even with a plain VISA card.

Integration with Dash

While many digital currencies focus on smart contracts, tokenization, etc. Dash has always focused on payments. Founded by Evan Duffield in 2014, Dash’s goal is to make faster payment transactions using InstantSend technology.. Bitcoin payments sometimes take hours, while Dash payments are within 4 seconds
fully confirmed.

This speed makes Dash very useful for stores. The team, including Bitcoin pioneer Charlie Shrem, previously stated that they were working for the Dash brand card.. Later, Doctor Julian Hosp from TenX’ offered to integrate Dash into the debit card they designed just for Bitcoin.. This integration was completed in April.

As announced at the Dash conference in September, Dash will be used in all stores that accept Visa cards, that is, in more than 40 million commercial enterprises around the world, thanks to the new card, and Dash users will be able to invest their investments. It will be able to withdraw cash in the form of cash from all ATMs in 210 countries.

There is still more to be done

It is clear that Dash and other cryptocurrencies are constantly working to be more accessible. The update that Dash developers are currently working on will make the use of Dash as they say “even your grandmother can understand.”

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