A New York City newsstand located on 34th street and 2nd avenue has begun accepting bitcoins. Owner of the stand, identified as Kay, says he is the first newsstand owner in New York to welcome the digital currency.
A video of Kay has been posted on YouTube, where he talks about his life and how he became a newsstand owner. He mentions how he is following in the footsteps of the family business, and that he truly enjoys it.
Kay favors the crypto-currency, and says that he welcomes bitcoin transactions, but refuses to take credit cards:
“I think it’s riskier dealing with credit card companies than it is with bitcoins. With credit card companies you have chargebacks, whereas with bitcoin you don’t.”
The newsstand owner has received some recognition on Reddit, as threads make positive comments of how he is a trailblazer for his commitment to bitcoin. Users were also impressed with Kay’s opinions on how bitcoin will become larger as time goes on.
“It’s much safer to carry around a phone than it is to carry around thousands of dollars in cash.”
The elimination of credit card charges and fees played a big role in Kay’s decision to accept bitcoin.
Easybitz, a payment processing company posted the YouTube video, showing off their method of conducting business. By scanning a QR code, bitcoin customers are no longer restricted to online only transactions. They can pick up a pack of gum or a newspaper straight off of the NYC newsstand.
EasyBitz sends merchants confirmation messages via text to confirm that the transaction has been completed.
Kay is a believer in bitcoin and Easy Bitz, saying, ”I get paid on the spot in real-time: no transactions fees, no processing fees […] it’s win-win, both on my part and the consumer’s part.”
Larger businesses can use Kay’s experiences to better adapt to bitcoin. Society is more than comfortably adjusted to paying in cash or credit, but bitcoin can make transactions safer, cheaper and quicker.
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