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Title ‘We’re just going to get bigger’: The tech world is finally waking up to Bitcoin as a viable way to buy and sell things with digital currencies article “We’re going to start seeing people start selling stuff on Bitcoin and buying stuff on other cryptocurrencies,” said Adam Langley, CEO of The New York-based digital currency startup Langley Capital.
“So we’re just hoping to take the first steps toward that.”
Langley said he sees the rise of digital currencies as a boon to commerce, and the potential for digital currencies to drive economic growth.
“Bitcoin’s a currency that’s not controlled by a government,” he said.
“We can buy anything online in the United States, and if you buy it in Bitcoin you get nothing.”
Liangley and his team are now focusing on using the digital currency to help with the company’s business.
“We’ve been doing it for over a year now, and it’s been really a boon for our business,” Langley said.
The startup, which has raised over $2.5 million in funding, uses a proprietary algorithm to determine which cryptocurrency is best suited for a given business.
For example, it uses Bitcoin to buy discounted merchandise at a discount store and then sends the buyer’s Bitcoins to the store.
In order to help Langley and other traders use their newly acquired cryptocurrency in their trading, Langley partnered with CoinJar to build a trading platform.
CoinJar is a virtual marketplace for bitcoin and other digital currencies.
It allows users to buy or sell items on a list of more than 1,000 items, with an average price of around $0.80 each.
Langley estimates his team has been able to sell up to $50,000 worth of merchandise in a single day using his service.
“Our main customers are retailers and we’ve seen a huge increase in our customers over the last year,” he added.
“It’s kind of a game changer.”
For customers who are not interested in purchasing or selling on CoinJar, Langler said his company has partnered with BitPay to help facilitate the transactions.
“BitPay was our first partner to work with,” he explained.
“They really got us in, and we’re super excited about that.”
BitPay’s Bitcoin payment processing platform has helped reduce the amount of fees charged by banks and other financial institutions when customers make purchases and receive payments.
Langie added that the company will soon begin offering other cryptocurrency options, including Ethereum, Dash and Litecoin.
He also plans to launch a Bitcoin-based e-commerce marketplace, which will be able to accept orders and pay directly from the blockchain, allowing people to purchase products and services without a bank or third-party payment processor.
Liang, who is also the co-founder of the popular financial planning site Zappos, said his team is also working on an app for mobile devices that can help users manage and track their investments in cryptocurrencies.