Bitcoin ATM machine producer, BitAccess, has launched a new service that will enable residents of Canada to buy bitcoin in thousands of physical stores across the country. The system, called Flexepin, will allow users to acquire the digital currency with debit or credit cards at 6,000 retail locations, including grocery stores and gas stations.
The process of buying a Flexepin voucher is similar to those of buying a gift card. You just need to make a payment at the store cashier and get a voucher in the form of a receipt, which can be redeemed for bitcoin after one minute since the purchase.
To buy the digital currency, you first need to visit https://www.bitaccess.co/flexepin/ page and find a store. Then you need to pay the cashier and if it can’t find Flexepin, inform them that it is on the prepaid machine and is similar to paysafecard. After that, you can redeem the voucher at https://bitcoin.bitaccess.co/.
While there will be no fees for using Flexepin, BitAccess will charge a $4 monthly fee for vouchers that have not been redeemed before “use by” date and a $30 fee if you ask for refund after 14 days. The vouchers will be available in $10, $30, $50, $100 and $250 denominations. A user can purchase a maximum of $250 of bitcoin a day.
The new Flexepin voucher system is not the only one offered for customers in Canada. In February, the Toronto-based decentralized technology innovation hub, Decentral, has launched a similar service at the uncovered number of retailers. Still, its bitcoin vouchers have a limit of $100 and can be acquired only in the province of Ontario.
Last month, BitAccess launched BitAccess Cash, a new feature allowing users to transfer bitcoin to one of its BTMs around the globe and withdraw the funds in fiat currency the same day.
Established in Canada in 2013, BitAccess has become the globe’s leading manufacturer of bitcoin teller machines, which are now used in different countries. It is currently working on the development of secure and easy-to-use virtual currency technologies.
The company is committed to give individuals and businesses an access to alternative financial services and promote the adoption of virtual currency. According to BitAccess, many people are using bitcoin as a transaction instrument, not for investment purposes. However, the startup admits there are still many people who are underserved and bitcoin companies need to dedicate more time to bring digital currency services to these customers.