Crypto-currencies have become mainstream and are here to stay. ENC Valet Parking will be accepting Bitcoin as a means of payment starting in 2014.
Forms of payment for products and services have evolved throughout history. The latest and most technological form of currency to ever exist, bitcoin, is slowly being adopted by merchants worldwide. ENC Valet Parking has traditionally accepted all the major forms of payment, including check, cash, and credit cards. Starting January 2014, ENC Valet will accept bitcoin as well.
Bitcoin is still in its infancy as a currency and as an investment. With twenty one million coins to ever exist, supply is a finite amount. There are roughly twelve million coins in circulation right now. As of today, the current price of one unit of bitcoin is $730.00 (bitstamp market). Over the last two months the price has been highly volatile, at two different points losing half its value, before stabilizing the last four days at its current price.
According to Eric with ENC Valet, “There are a few ways to purchase bitcoins, some easier than others. There are about one hundred bitcoin ATM machines worldwide right now; but chances are there isn’t one in your city yet. You can also go to coinbase.com and create an account with them.
Coinbase is a California based company that facilitates trades between the money markets and the end user. They take the hassle out of all the techy stuff and deposit the coins into a digital wallet that is created once you start an account with them. Probably the most difficult way is to purchase directly from the market such as Mt. Gox or Bitstamp, as a couple of examples.
These funds can be stored in your online Coinbase wallet or you can download a digital wallet which resides on your phone or tablet. Keeping the funds on your phone though is dangerous, unless you keep a backup of your account number. The account number is a long code that is translated into a QR code which makes point of sale purchases very easy. There is no transaction fee to send bitcoins to anyone worldwide and it’s almost instantaneous, making its future potential use highly attractive. We are very excited to start offering bitcoin as a payment option for our services.”
ENC Valet is excited to start offering this decentralized currency to its current and new customers. ENC will accept payment for all services offered; including but not limited to valet parking and traffic control.