Bitcoin of America is a U.S. based digital currency exchange platform headquartered in Chicago, IL. The firm is registered with the United States Department of Treasury as a Money Service Business [MSB]. All transactions are executed in accordance with Federal and State laws. Bitcoin of America follows strict anti-money laundering [AML] and Know Your Customer [KYC] policies. These cryptocurrency transactions are made on a highly secure, user-friendly platform with same day settlement rates.
Bitcoin of America helps customers have direct transactions without any involvement of middlemen, through a virtual platform that deals with purchase and sale of cryptocurrencies.
As cryptocurrencies are gaining popularity and the number of crypto transactions is increasing, the need for a trustworthy and efficient exchange platform is also rising. Bitcoin of America plays a major role in making safe, reliable, and fast cryptocurrency transactions available to a large number of people. In addition, Bitcoin of America has extensive live customer service to answer any potential questions or problems.
Bitcoin of America provides various options to buy and sell digital currencies such as Bank to Bank Wire, Bitcoin Teller Machine or Bitcoin Kiosk, and Store Payment Locations.
- Bank to Bank Wire:
Bitcoin of America delivers a fast and easy method of wire transfer by allowing its customers to wire the amount from an online bank account or bank teller. Customers can initiate a trade, wire the funds to fulfill the trade amount, and shortly receive their cryptocurrency.
- Bitcoin Teller Machine [BTM] or Bitcoin Kiosk:
The new BTMs help people trade Bitcoin and other digital assets easily. Customers can use fiat currencies to buy cryptocurrencies without using a bank account or debit card. Simply download a Bitcoin Wallet and have the cryptocurrency transferred by scanning the QR code issued on the receipt.
BTMs are similar to the traditional ATMs, however, it can be used only for cryptocurrency transactions. In addition to existing BTMs in Chicago, Detroit, St. Louis, Indianapolis, Cleveland, Colombus, and Baltimore, Bitcoin of America will be opening BTMs in New Orleans, Philadelphia, Los Angeles, and Washington D.C.
- Store Payment Locations:
Bitcoin of America has partnered with almost 860 store payment locations across the country to make purchasing cryptocurrency easier for customers. Customers can locate their nearest store location and go there to pay for their cryptocurrency purchase.
Bitcoin of America provides the fastest and safest way to purchase and sell cryptocurrencies through its website services. Customers can create an account and be signed up to buy and sell approved amounts of cryptocurrency. With competitive rates, Bitcoin of America also provides an extensive email and chat support to clarify any technical and transaction queries. Bitcoin of America operates in 39 states and is striving towards expanding their services nationwide.
AMB Crypto’s reporting team conducted an interview with the CEO of Bitcoin of America regarding their technology and future prospectives.
Q. How do you think blockchain and cryptocurrency are going to bring a change in the financial status of the world?
I think cryptocurrencies like bitcoin are going to be the future for payment processing methods. What I mean by this is instead of using your bank account or credit/debit card to send payments you would be buying bitcoin and transferring bitcoin as your payment. We are in the payment processing business essentially and we are processing payments daily through our bitcoin kiosks and through our website.
We are constantly adding easier payment methods such as debit cards and payment locations where you can physically walk into a payment location such as a local convenience store and make a payment for your online trade through Bitcoin of America. I believe that blockchain and cryptocurrency will bring a fast, easy, payment processing method into the world.
Q. What are the transaction charges for Bitcoin of America? How is it different from other exchange platforms?
Bitcoin of America’s platform is very unique and different than any other platform on the market today. Our platform is geared to process your transaction only. Bitcoin of America does not store bitcoin for any customer nor does it store any type of currency like traditional exchanges, for example, Coinbase. Our platform is fast, reliable, and secure.
Our goal is to make buying bitcoin as easy as possible for people of all ages. Bitcoin of America’s transactions prices varies depending on the method used to purchase bitcoin. For example, kiosks, better know as Bitcoin ATM’s, are priced higher than wire purchase rates.
Our Bitcoin ATM rates are 6-9% depending on whether you are a VIP client or purchase amount. In addition to the kiosks, we offer 500 store payment locations where you can physically pay cash and buy bitcoin. Bitcoin of America’s wire purchase rates for same day settlements is under 2% over the top 5 bitcoin exchanges. This normally comes to be around 1% over Coinbase fees.
In exchange for our fees, the customer is provided with excellent customer service that is always available to answer any questions through our chat feature on the website. Also, we are proud to offer same day settlements on bitcoin purchases.
Q. Would you be giving access to more cryptocurrencies for trading in future? If yes, What are they?
Bitcoin of America originally started out selling only bitcoin. However, we now offer other cryptocurrencies such as Ethereum, Litecoin, Bitcoin Cash and Ripple. We plan to focus on these currencies in the near future and offer a simple, fast and reliable transaction method for our customers.
Q. Are you planning to expand your services outside the US?
Our compliance is currently geared towards US sales only at the time.
Q. Can we expect a digital wallet service from Bitcoin of America soon?
Great question. This is yet to be determined.
To know more about Bitcoin of America, click here!