thecoinrepublic.com
- Williston, North Dakota, announced a collaboration with bitcoin ATM provider Coin Cloud on Wednesday to build a cryptocurrency ATM at the Williston Basin International Airport
- Traditionally, when you buy cryptocurrency on an exchange, the transaction is directly linked to your bank via a checking account, debit card, or credit card, Cummings explained
- They are now establishing a successful road map for the public to adopt cryptocurrencies with a municipally sponsored DCM as he said
On Wednesday, Williston, North Dakota, announced a collaboration with bitcoin ATM provider Coin Cloud to build a cryptocurrency ATM at the Williston Basin International Airport (XWA). According to the city, This is the first cryptocurrency kiosk hosted by the government and the first Coin Cloud installation in an airport. This is a bold move in introducing and engaging the public with cryptocurrencies while also proactively contributing to the development of the digital ecosystem, said Hercules Cummings, the city’s finance director.
ALSO READ: DETH: A HODLABLE LEVERAGED ETHER
Even though we are a little rural town, we have a significant influence. Taking this tiny step might open the path for other government and private sector organizations to follow suit. Users may purchase and trade over 40 cryptocurrencies, including bitcoin, bitcoin cash, dogecoin, Shiba Inu, Cardano, and ether, via Coin Cloud’s crypto ATMs, known as Digital Currency Machines. Users may also take money out of their digital wallets. The city underlined that it does not function as a money custodian or oversee any crypto transactions, instead relying on Coin Cloud to handle purchases and withdrawals.
Traditionally, when you buy cryptocurrency on an exchange, the transaction is directly linked to your bank via a checking account, debit card, or credit card, Cummings explained. There are no identifiable costs, bank accounts, or credit cards while using the DCM to convert cash to crypto. The deposit and withdrawal procedure takes place between the DCM and your digital wallet, with cash as the only medium of exchange. According to the city’s finance director, Williston joined with Bitpay in May to accept digital money for local utility bills.
They are now establishing a successful road map for the public to adopt cryptocurrencies with a municipally sponsored DCM as he said. Cummings said of enabling citizens to pay using cryptocurrencies: They are the first municipality in North Dakota to provide this service, and just the third in the country.