Further Inroads Established in Columbia

Executive Brief

The challenges that have faced the digital currency industry since the initial launch of Bitcoin have been many, and the process of buying and selling Bitcoin itself has been one of the largest. Though much progress has been made with over the counter purchases possible. A new launch by industry startup Coinapult in conjunction with payment kiosk supplier Punto Pago is offering simple, automated purchase of Bitcoin in 300 locations right across Columbia and ensuring that the trend for easier entry into the digital currency ecosystem continues.

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Making sure it is as easy as possible to buy and sell Bitcoin is crucial to ongoing growth for Bitcoin itself and the wider digital currency industry. Measures are slowly being put into place all over the world to make the purchase process a more convenient experience for new and old users alike, and the most recent of those has been launched by industry startup Coinapult, based in Panama. Coinapult operates a Bitcoin wallet service most famous for its “lock-in” feature that allows users to lock in a specific fiat currency value of Bitcoin to avoid price uncertainty, so that $1000 of Bitcoin purchase and ‘locked in’, will always return $1000 of fiat money when exchanged, regardless of Bitcoin price at the time.

They recently announced a partnership with payment kiosk operator Punto Pago to offer an automated Bitcoin purchase service at 300 kiosks situated right across Columbia. Using the existing kiosk network that currently functions as a payment service for mobile, broadband and telephony bills amongst others, users will be able to easily purchase Bitcoins using Columbian fiat currency, Pesos. The system works smoothly and quickly, with users choosing the amount they wish to buy, and then inputting an email address where the Bitcoins are quickly delivered. Users are provided with a paper receipt to confirm the transaction by the kiosk, the whole process working much like many of the Bitcoin ATMs found in other countries.

Columbia itself, as in many places, is seeing a rise in interest in Bitcoin as it is increasingly being viewed as a viable protection asset to store value, and adding this ease of purchase can only help with this. These kiosks, located prominently throughout the country, will no doubt raise awareness in the general public of the benefits of Bitcoin and the digital currency industry. Initiatives such as this one are vital for the concept of digital currency to broaden its awareness and generate public interest.

In that context this new move in Columbia is an extremely positive one both for the existing Bitcoin users in the country, and for the industry that is seeking to expand into newer markets as it matures.

The views expressed by the authors on this site do not necessarily represent the views of DCEBrief or the management team.

Author: Thomas Moore

Thomas Moore is a writer and researcher with a love for the eclectic, family and the world we inhabit. He spends his spare time photographing the varied wildlife that surrounds us daily and contemplating why Firefly never made it past season one.

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