Special Advertising Feature
Technology is a constantly moving force. It can leave business leaders without a vision struggling to get their bearings and instill fear in corporate curmudgeons too large to move forward at a breakneck pace.
Others don’t worry about keeping up with technology because they are the ones too busy innovating technological advances.
Bitcoiniacs – The Bitcoin Store is one of those companies.
This forward-thinking group of entrepreneurs and engineers envisioned a digital economy that would spur employment gains, create new business growth and alter the way people exchange value. Believing that Bitcoin and the world of crypto-currency would be the next big thing; the small start-up company began by dipping their toes into the Bitcoin waters with local trades at cozy coffee shops. From there, they dove headfirst into the industry by expanding into the world’s first physical Bitcoin brokerage in downtown Vancouver, British Columbia, Canada.
Bitcoiniacs leaders say that Vancouver residents and Canadians in general have been very receptive to the idea of Bitcoins and immediately responded enthusiastically to the opportunity to be a part of an emerging digital cash system.
The proof is in the numbers.
“In less than a year, we have grown from a part-time staff of three to a full-time staff of 10 and are planning on doubling that base within a few months,” said co-founder Paul Szczesny. “The trend has been noted by national media, some even expecting Canada to become the Silicon Valley of Bitcoin.”
It became clear that Bitcoiniacs was destined to pioneer a new path for the Bitcoin industry. That led company leaders Mitchell Demeter, Jackson Warren, Paul Szczesny and Cheyne Mackie to adopt a grassroots strategy that resulted in the world’s first Bitcoin ATM.
Refusing to leave behind their coffee shop roots, Bitcoiniacs’ leaders located this groundbreaking Bitcoin ATM in Waves Coffee Shop, a Vancouver business that attracts a dynamic, youthful crowd daily. This location serves both as Bitcoiniacs headquarters and flagship store.
The coffee shop’s patrons saw the value in a Bitcoin ATM and inspired Bitcoiniacs to push the Bitcoin envelope even further.
“At the time we were planning to install ATMs across Canada but that changed when we decided to launch our own global Bitcoin exchange,” said Demeter. “It made more sense to have a physical presence around the world in strategic locations and use those points to promote the online side of the business.”
Following that philosophy, Bitcoiniacs has made dramatic progress in just five short months. Since January, the company installed ATMs in Singapore, London and Bucharest. Its fifth unit is about to go live in Tokyo.
In the meantime, Bitcoiniacs continued to work growing the Bitcoin exchange. Christened the Cointrader Exchange (www.CoinTrader.net), it was designed as an online trading platform that would allow Bitcoins to be exchanged for traditional currency.
However, Demeter and other company leaders realized that this innovation would require a powerful banking partnership to make its foundation strong and its global reach extensive.
So, Bitcoiniacs partnered with a payment processor that will give the business the unprecedented ability to operate in the United States under their MSB (Money Services Business) license.
“This new payment system will be live in the U.S. within the next few weeks,” said Demeter. “We will have amazing funding and withdrawal options for clients in the U.S. and Canada and then a few weeks after that goes live we will be able to offer the same thing to clients in Europe.”
Bitcoiniacs has taken great pains to make the Bitcoin exchange remarkably secure with a full 256bit SSL encryption, daily malware scanning, complete server and database backups and encrypted wallet backups in multiple physical locations.
Demeter said this is an exciting time to be a start-up business. While he realizes there will be challenges to overcome in the future, he is confident that crypto-currency will continue to force new innovations and establish a whole new way people around the world think about banking and value – and Bitcoiniacs will be right there not only watching it happen, but making it happen.