Buying and selling Bitcoin in a quick and convenient manner is still of the utmost priority for most consumers. While most of the Bitcoin’s are either bought in a peer-to-peer fashion or from an exchange, alternatives are slowly making a name for themselves. LibertyX is one of those alternative options, through which buying Bitcoin in-store becomes an appealing option.
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LibertyX – Buy Bitcoin At Retail Stores
The process of buying Bitcoin through LibertyX is vastly different from regular offerings in the world today. Rather than buying Bitcoin from a Bitcoin exchange – and going through a lengthy verification procedure – consumers can buy Bitcoin directly from retail stores. Some of those stores allow the purchase of any amount, whereas others offer only PIN denominations.
Making Bitcoin more accessible to consumers has to be achieved in such a way that fraud becomes a non-issue. In the case of LibertyX, this means there are no other payment options available other than cash. Various customers have been inquiring about credit and debit card payments, but due to their high fees and high fraud rates, this type of payment is not [yet] possible.
There is one major factor to keep in mind when purchasing Bitcoin from LibertyX – either a PIN-denominated amount or otherwise – and that is how customers only have 24 hours to provide a Bitcoin address. Failure to do so will result in an expired payment for Bitcoin, and a new order will have to be placed through the mobile app.
Once customers provide their designated Bitcoin wallet address, LibertyX will immediately send the amount in BTC. This can easily be tracked on the Bitcoin blockchain, and transactions should be visible shortly after making the cash payment. Using the mobile-friendly website or designed applications – for both iOS and Android – will help keep track of incoming Bitcoin transactions.
As you may have guessed by now, one can not simply buy unlimited amounts of Bitcoin from LibertyX. Depending on the verification level for each user, their daily purchase limit ranges from US$100 to US$1,000. Furthermore, the number of PINs to redeem within 24 hours is limited to four. LibertyX is currently looking into ways to increase the limits.
Finding A Participating Retailer Near You
Unfortunately for international customers, the service offered by LibertyX is only available in the United States and Guernsey for now. At the time of publication, the LibertyX service was available across 38 US states. However, this service might expand to an area near you.
New PIN amounts and 6,000 additional LibertyX stores – Download our iOS/Android app today and buy bitcoin in-store – https://t.co/ZJKyNHjxbR
— LibertyX (@libertyx) December 2, 2015
In fact, according to a recent Twitter post by LibertyX, they have added 6,000 additional locations to purchase Bitcoin with cash. This is a positive trend for Bitcoin adoption in general, as more consumers will have easier access to purchasing digital currency without too much hassle.
Source: LibertyX
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