Asia has always been a safe haven for Bitcoin traders, as many Chinese investors are speculating on the Bitcoin price to make a quick profit. Countries such as Japan are forming a regulatory framework for Bitcoin, now that the Mt.Gox debacle is coming to an end. However, one country that no one hears much from in terms of virtual currency is Korea, even though they have their very own Bitcoin Center and a calendar full of events.
Bitcoin Center Korea – Grassroots Efforts
Most people are well aware that Korea is split into two parts: North Korea and South Korea. Over the past few decades, both countries have grown a huge dislike for one another and communication between both sides is borderline illegal. It is quite a surprise to find out there is such a thing as a Bitcoin Center Korea though.
Truth be told, Bitcoin Center Korea is not endorsed by the Korean government, as the premises is managed and operated by Digital Synergy. Because Bitcoin Center Korea is a grassroots efforts by the local Bitcoin community, virtual currency awareness and adoption can benefit from this project. Without a true community supporting this project, there won’t be much success to speak of.
As you would come to expect from a location where like-minded Bitcoin enthusiasts come together, there are quite a few services at their disposal. First and foremost, Bitcoin Center Korea offers a Bitcoin ATM, to buy and sell virtual currency in exchange for local currency on the fly. Bitcoin Center Korea is located in Seoul and the Lamassu ATM charges a 3.5% to 4% fee on top of the current Bitstamp exchange rate.
Conference spacing, education and coworking take the center stage of Bitcoin Center Korea’s premises. Judging by the venue’s agenda for this coming month, there will be several days dedicated to “Code Bootcamp”, as well as Bitcoin for Beginners and even a Blockchain Technology Workshop.
Similar to other physical Bitcoin meeting places around the world, Bitcoin Center Korea offers various types of membership. Obtaining a Day Pass, for example, will grant the owner free beverages, the opportunity of networking with experts and access to the Bitcoin ATM. This package costs 10,000 KRW, and can be paid in Bitcoin. Other membership packages include access to lockers and a personal desk, conference space reservation and much more.
Bitcoin Debit Card and Remittance Services
Rather than offering their own branded Bitcoin, Debit Card, Bitcoin Center Korea is promoting E-Coin. Over the past few months, E-Coin has gone from a Bitcoin startup to one of the household names in terms of Bitcoin Debit Cards. Convenience, security and the option to spend Bitcoin all come together when ordering an E-Coin Bitcoin Debit Card.
Last but not least, the Bitcoin Center Korea websites holds a small directory of various remittance services in the world. Since Bitcoin is a far cheaper method of transferring money around the world, it is only a matter of time before virtual currencies can take the fight to competitors such as Western Union and MoneyGram.
Source: News Tip via Email
Images courtesy of Bitcoin Center Korea, Shutterstock