Bitcoin ATM now at Annandale gas station
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| The Bitcoin ATM at an Annandale Exxon station. |
You can now buy Bitcoins from an ATM recently installed in
the Exxon service station at 7336 Little River Turnpike in Annandale.
It’s one of six cryptocurrency ATMs in Northern Virginia
operated by Black Frog, a company based in Maryland. Black Frog has installed 82
ATMS in six states, mostly in gas stations or convenience stores.
operated by Black Frog, a company based in Maryland. Black Frog has installed 82
ATMS in six states, mostly in gas stations or convenience stores.
To use the ATM to buy Bitcoins, you first need to install a
bitcoin wallet app on your phone. Black Frog suggests using Mycelium for
Android and Edge Wallet for iOS. Here’s how it works: enter your phone number, receive a text message with a code to enter into the ATM, open
the wallet app, scan a QR code, and follow the on-screen instructions.
Customers can buy or sell Litecoin, Ethereum, or Bitcoin Cash,
as well as Bitcoins.
as well as Bitcoins.
According to a Black Frog representative, it’s faster and easier
to use an ATM to buy cryptocurrency because you don’t have to register with a bank
account or credit card.
to use an ATM to buy cryptocurrency because you don’t have to register with a bank
account or credit card.
The daily limit is $1,500 with SMS verification and $2,999
with SMS plus a driver’s license.
with SMS plus a driver’s license.
One response to “Bitcoin ATM now at Annandale gas station”
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Apparently Bitcoins do well with negative interest rate situations. Per Yahoo news article negative rates exist in parts of Europe and Japan, and due to aging populations. “Negative interest rates are typically seen during weak economies and periods of deflation — when prices go into a downward spiral. Businesses and consumers tend to wait to see if prices will go even lower, so they save money instead of spending it. To encourage spending, banks start making it costly to sit on your money. Instead of earning 2% interest on your savings, you might have to pay a 0.6% annual fee to keep it at the bank. That's considered an interest rate of -0.6%, and it's money that you're losing.”
And a btcnews article says Alan Greenspan said effectively that traditional assets could decline, and alternative investments, which many say includes Bitcoin, could take over. Article explained that things like increase in gold’s value can be attributed to the growing demand for “hard” assets, which he claims will ensure that investors have their wealth in the future.
For some, Bitcoins will give short term wealth, legally and sometimes related to illegal things. For many others, increasing anxiety and even suffering. For the latter, and even the former, there’s also hope when Jesus said “Therefore I tell you, do not be anxious about your life, what you will eat or what you will drink, nor about your body, what you will put on. […] But seek first the kingdom of God and his righteousness, and all these things [food, drink, clothes, etc.] will be added to you. Therefore do not be anxious about tomorrow, for tomorrow will be anxious for itself. Sufficient for the day is its own trouble.”