Bitcoiniacs opens store in Kelowna

VANCOUVER, Nov. 22, 2013 /CNW/ - Bitcoiniacs, a Vancouver-based bitcoin broker, is opening the doors to a new store in downtown Kelowna. The new storefront provides a walk-in location to physically exchange the popular digital currency.

"We're seeing a high demand for bitcoin in the BC Interior and tremendous success with the first Bitcoiniacs store in Vancouver," says local entrepreneur Mark Kohlen and manager of the Bitcoiniacs Kelowna store. "We want to support bitcoin users who want to meet and trade directly and we are very excited to be chosen as the second location in the world to install a bitcoin ATM."

Finishing touches are underway at the store located in downtown Kelowna. The ATM, to be installed for the store's Grand Opening planned for early December, will process transactions of $3,000 and under. Appointments can be made for transactions of a higher value.

"Bitcoiniacs wants to make the process of buying and selling bitcoins as easy as possible," says co-founder Jackson Warren. "At our stores, we can help newcomers set up their first bitcoin wallet or just provide that higher level of trust that comes with a face-to-face exchange."

Bitcoin is a revolutionary decentralized digital cash system based on strong cryptographic principles that uses a peer-to-peer network to transfer money anywhere in the world, instantly, at practically no cost. It offers anonymity and avoids intermediaries such as banks, passing on those savings to users. Designed to enable users to send money over the Internet without needing a credit card, bitcoin is accepted by a growing number of online merchants.

As of late, the digital currency has seen tremendous growth. Last week, one bitcoin, (known as 1 BTC) as was valued at $466 Canadian dollars, and now trades at over $800. That growth excites Warren and the team at Bitcoiniacs.

Local users can trade their new bitcoins in for a bottle of wine at Rollingdale Winery in the Okanagan Valley, the first winery in North America to accept bitcoin payments.

Kelowna is known for its growing high-technology sector and innovation in online services, a perfect launching spot for the digital up-and-comer.

The current exchange rate for bitcoin can be accessed with the online rate calculator at www.bitcoiniacs.com/atm.

About Bitcoiniacs bitcoiniacs.com
Bitcoiniacs is revolutionizing the way people buy and sell bitcoins. Teaming up with Robocoin, Bitcoiniacs installed the world's first bitcoin ATM, in Vancouver, BC. Bitcoiniacs opened Vancouver's first physical bitcoin exchange and has opened a second store in Kelowna. Their mission is to make the process of buying and selling bitcoins as easy as possible.

SOURCE: Bitcoiniacs

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Media Contact:

Yvonne Turgeon
dHz Media
t. 250.575.4004
yvonne.turgeon@dhzmedia.ca

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