CoinReport Hong Kong Opens the World – s Very first Physical Bitcoin Store
World’s Very first Physical Bitcoin Store
The very first everzwijn physical bitcoin store is open for business te Hong Kong. The Chinese retail shop opened its doors on February 28th of this year, and permits for the sale of the digital currency.
Located te the western district of Sai Ying Pun, the 40-square-meter shop operates through the Asia Nexgen Bitcoin Exchange. The bitcoin exchange contains a money service technicus license from Hong Kong’s customs and excise department.
Bitcoin is seen spil a commodity rather than a currency by the Hong Kong Monetary Authority. Ter turn, the exchange company can accept bitcoin spil commodities, but not spil currencies.
Customers are required to showcase ID and proof of address before making any transactions using their digital wallets. This helps to excuse money laundering rules while at the same time permitting customers to serve with customs.
After the ribbon-cutting ceremony, the shop already had its very first customer. According to Coinbase, the customer spent $HK100, omschrijving to $12.90 US to buy 0.022 BTC.
Co-founder and CEO of Asia Nexgen, Weten Lo, believes the bitcoin store can help boost bitcoin’s notoriety and recognition. He says:
“The thickest kwestie people have right now is buying the bitcoin. People have to waterput money te, trade it through an exchange online. Now, you walk into the store, forearm overheen your metselspecie and send the bitcoin to your digital wallet.”
Coincidently, the shop opened up the same day Japanese bitcoin exchange Mt Gox wasgoed coerced to opstopping bankruptcy protection. The Japanese exchange lost 850,000 bitcoins after it wasgoed struck with an alleged theft.
Lo remains certain that Mt Gox’s fights won’t effect the surplus of the bitcoin market. He says that the exchange’s ordeal is only “a druppel ter the bucket” and that there is no “shortage of demand” for bitcoins.
China’s Investor Confidence
After the collapse of Mt Gox, Chinese bitcoin investors displayed their frustrations and concerns overheen the bitcoin market by taking to social media sites. Bitcoin’s liability has bot brought into question, and some Chinese bitcoiners felt that disaster had struck the digital currency market.
Requests from Chinese government officials told merchants to not accept bitcoin for payment, and that goods and services could not be priced using the digital currency.
What makes some investors feel even worse is that their government wasgoed right to some extent. There are risks ter bitcoin. Investors who defied China’s bitcoin geobsedeerd looked to prove their government wrong. Tho’ Mt Gox failed, they still have the chance to prove how valuable bitcoin is.
Asia Nexgen can be the boost investors need to stick with the digital currency. Mt Gox may have fumbled, but that doesn’t mean everyone else will. The Chinese bitcoin exchange has already made their mark, being the very first bitcoin exchange to make their presence felt ter an actual storefront.
Ter time, Mt Gox may be seen spil just an obstacle bitcoin had to overcome, rather than where its downfall began. The opening of the bitcoin store shows that bitcoin is still progressing forward.