Tag: bitcoin wallet

The school in British Columbia, Canada, is now letting students shop at campus bookstores with the digital currency.

A university in British Columbia, Canada, has now announced that it has started to accept the cryptocurrency, Bitcoin, within all of its bookstores, which allows students to be able to use their mobile wallets for a purpose that represents a first for post-secondary institutions within the country.

The announcement also stated that the university will accept Bitcoin payments at its vending machines.

Simon Fraser University (SFU) has said that Bitcoin mobile wallets based payments will be accepted at the Vancouver, Burnaby, and Surrey campuses. According to the SFU Bitcoin Club founder, Michael Yeung, “It is still a very new, techie kind of subject and it takes — I think, for the average person — a lot of time to be able to understand it and be comfortable using it.” That club was behind the spearheading of the use of this digital currency for mobile payments at the university.

The university has established a new system that allows for quick and convenient Bitcoin purchasing and spending.

Yeung explained that “The way we’ve integrated it at the bookstore, allowing you to quickly buy bitcoins under 10 seconds and spend it under 10 seconds, makes it a lot easier.” The virtual currency can be exchanged and transacted online without the assistance or regulation of any type of central bank. At the university, students are able to fill their wallet apps through the exchange of Canadian dollars at the enabled vending machines, or they can spend the Bitcoins they have already purchased.

At the university bookstores, Bitcoins will be accepted for the purchase of any products, including textbooks, as well as merchandise such as mugs and t-shirts. This is the first time that this type of transaction has been accepted at a university store in Canada, but it is not the first time that the school has used the currency.

This growing sector is proving it’s place within businesses and now schools. Many are predicting that Bitcoin will be accepted in every place of business within the next few years. There’s been a surge of special interest in Bitcoin training and learning more about how it works, mined and how it’s being used/invested.

Bitcoin donations through student mobile wallets were already used for a fundraising effort. That was the first time a post-secondary education institution accepted donations through that type of currency.

The web based Hive Wallet was first announced in March but has now been released.

Although the Hive mobile wallet was still seeking developers and was little more than a well thought out concept, four months ago, since that time they have not only managed to find the skilled individuals that they needed, but they have also reached the point that they have now released the product.

The entire concept of paying over smartphones and tablets is still a new one that is slowly catching on with consumers.

This mobile wallet is unique in that it is based on HTML5, available on the web instead of requiring an app download. By visiting the URL for the first time, the user is given the choice to either create a new wallet or to open an existing one. Similar to brainwallet, Hive Wallet requires a twelve word passphrase in order to create a new one. Moreover, security is then taken an additional step further by requiring the user to assign a PIN.

Once the mobile wallet has been created, it can be used with a sleek, minimalist design.

This is key because the user will need to be able to access all of its elements rapidly in order to use it to complete transactions. There are three options clearly laid out for users of the site, including the receipt of bitcoin, sending that digital currency, and viewing their transaction history.

This service supports digital currencies (also known as cryptocurrencies) such as Bitcoin and Litecoin and it is looking to add Dogecoin in the near future. Over the long term, the company is hoping to be able to add a range of different digital currencies from which the wallet users can choose.

One feature that is already being applauded is called “waggle”, which broadcasts a user’s public key to other users of the wallet who are located nearby. By doing this, in person transactions can be completed seamlessly, without the requirement for NFC tag taps or QR code scans. That said, because this mobile wallet is based on HTML5, it should be noted that it is not compatible with iBeacon.