Previous surveys have found that a great deal of people who might be interested in getting involved in crypto, refrain from doing so because they find it too confusing to get started.
Whether that's finding a location to buy in person, deciding on which wallet to use, or choosing which online exchange to go with etc, many people still aren't finding it convenient enough for them to get started. Especially if they don't know anyone who is already familiar with the space who can help to guide them through it.
If the process were simplified then it might help to easily persuade many others to get involved in this space. There are a growing number of entrepreneurs today who are looking to address this problem, who are working to make it easier for people to understand and start to use cryptocurrency. Netcoins was thought of as a potential solution to this problem.
The project reportedly started back in 2016 and what was eventually created was a software product that can now easily be installed in various retail locations, allowing the average person to walk in off the street and purchase crypto.
When you walk into one of the retail locations that supports Netcoins and you request to make a purchase, what then occurs is the Netcoins software goes out onto the exchanges in real time,makes the crypto purchase for you, puts that crypto in a digital wallet for you that's been created by the software, and then that gets e-mailed to you.
What their software does is essentially turn any device like a phone or iPad for example, into a virtual cryptocurrency machine.
All you need is an e-mail address to make your purchase and get your new coins.
"We're making it very simple for the mass consumer to be part of the cryptocurrency economy" - Netcoins CEO Mark Binns
Currently, they're working with over 21,000 different retail locations spread across Europe, Canada, and Australia.
Soon, sometime in November, they reportedly plan on launching an expansion that will include an additional 150,000 retail locations across 65 countries.
They charge a $25,000 listing fee which recurs annually for coins that want to be listed. So far, they've already helped thousands of people to buy cryptocurrency via their virtual crypto ATM software.
Now that STEEM has won the recent contest and will soon be listed (for free) if it hasn't been already, this means that people around the world will be able to go and visit one of these retail locations and easily make a purchase, all they need is an e-mail address.
Pics:
pic 1 twitter
pic2 - pixabay
This will definitely make it easier for new people to get into Steem! I'm looking forward to buying a small amount to try it out :) Unfortunately I find the exchange rate for their cryptos a bit too high, so I won't make any big purchases trough them, but it's a nice option for smaller purchases.
i didn't happen to see what their exchange rate was?
They obviously haven't announced an exchange rate for Steem yet, but coins like Bitcoin, Ethereum, Litecoin etc. seem to have a roughly 50 % markup. To get a single Bitcoin you have to pay $9,200 :/
You can see the full exchange rates at their website's crypto redemption page.
I actually voted for STEEM on netcoins a couple of days in a row before even coming here. I came from SMOKE.io and there are a good handful of STEEM users that came there from here. So I showed some love to help support the kind people I met on there, who came from here, by voting. :)
I sincerely appreciate your 5 SBD you sent me to get started! Seriously! But honestly.. I feel bad accepting it.. I feel like I should send it back. I hope that wouldn't offend you...
I didn't really plan on being extremely active here, just wanted to verify that the people coming over "from STEEM" were not impersonating people here and ripping off their posts.
I've been vigilant in curbing abuse over there, as it's a fresh, new, blockchain. Naturally, that means I'd need to come here to be able to ask people who are joining SMOKE, if they are legitimately them, or if someone is ripping off their STEEM articles and using them for ill-acquired gains over there.
Thank you again for your generosity. I really do appreciate the kindness!
thanks for helping steem to win the contest:)
I want to believe, but Netcoins is a tiny company. Publicly traded, but with a market cap of only $15 million. They’ve got huge ambitions, but can they pull it off?
I see your point, and there's definitely an uncertainty if they are able to expand as they plan to. It will be amazing for Steem is they are able to though!
I wish you a great day@doitvoluntarily you are very kind to share all this information, thank you very much for letting us know
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