Posted July 8, 2019 by lauchan
Forsyth International Hong Kong is going to explore the possible ways to spend crypto coins in the real world
Forsyth International Hong Kong (ISIN: HK0234892310), a trusted partner to individuals, wealth managers, family offices, investment managers and institutions in navigating cryptocurrency, a company that develops funds, indexes, insight, and other services, is pleased to announce that it has released a paper on how to spend crypto coins in the real world.
The Internet is full of information how to mine, exchange, or sell bitcoins, ethers, and other cryptocurrency online. Forsyth International Hong Kong is going to explore the opposite things – the possible ways to spend crypto coins in the real world. It is surprising to learn how much opportunities the market can offer.
Over the past couple of years, people experimented a lot trying to live for a certain period of time with no fiat money, paying for goods and services with only bitcoins. For example, the CNBC journalist Sema Modi did it for a week paying by bitcoins in New York retail stores and cafes. Kashmir Hill, the Forbes correspondent, did the same. She even managed to organize a trip, to dine at posh restaurants, and to give bitcoin tips to a girl in a strip club. All of the explorers thought that it was a bit tricky but a possible thing to realize.
The first thing that comes to mind is the bitcoin ATM. The first place by the number of ATMs take the United States, Canada, and the United Kingdom, and at the last – twenty countries with only one ATM per country – for example, Thailand, Brazil, and Kazakhstan.
ATMs look pretty up-to-date, smart and attractive; however, you cannot say the same for places where you can find them. Usually, they have a spot in small groceries or snack bars, although most of them are in busy areas close to city centers – the places easy to find. ATMs are often lost right between the bottles of alcohol and magazines.
When bitcoins are sold a person can redeem the ticket and withdraw cash. Don’t forget about the time to approve the transaction (it’s about 7-10 minutes average).
The issue is not only in waiting period but also in fees the ATM vendor and exchange take with the taxes in some countries. User sell or buy coins within the exchange, which means a customer sells bitcoins according to the rate is offering right now, so sometimes it is not the best and below market probably.
The most obvious way to spend virtual money in the real world is to go to online stores accepting bitcoins. In fact, there are hundreds of them from giants like AliExpress or Overstock to tiny specialized shops with clothes, food, jewellery and much more.
About Forsyth International Hong Kong (ISIN: HK0234892310)
Forsyth International Hong Kong is a crypto currency investment specialist and hedge fund that is committed to provide exceptional returns through an actively managed diversified portfolio of blockchain asset vehicles. The company commits to a research-driven and quantitative approach. Started by experienced VC investors and Internet entrepreneurs, Forsyth International Hong Kong strives to provide its partners and investors with a superior return by targeting both short term and long-term opportunities in the rapidly growing crypto finance sector. The firm’s origins are in technology and it prides itself in having a deep understanding of protocols, the blockchain and the crypto field.