A little-known Canadian startup has created a $100 tent that converts $100 bills into a digital currency.
The company, which launched its product last month, says it’s one of the first to allow people to convert $100 notes into Bitcoin, an electronic form of money that can be spent almost anywhere in the world.
The tent is designed to keep costs down, said Rob Hargreaves, CEO of the company, called Bitcoin Wallet.
The Bitcoin-branded tent is similar to the Bitcoin-themed tents that are available at some U.S. hotels.
Hargresays the company has sold 1,500 of the tents in the last 12 months, selling about 20 per cent of them.
Hargeaves says that’s because people are more likely to take a tent in the U.K., which has an increasingly popular Bitcoin market, rather than overseas.
Haspers claims Bitcoin is “the fastest growing currency in the history of the world.”
(CBC) Bitcoin Wallet is an online marketplace that sells Bitcoin-based products and services.
Bitcoin Wallet has about 20 customers in Canada, including banks and retail outlets.
Humblely named after the Bitcoin protocol, the currency is created through a process called mining, where individuals compete for computers.
The currency is a form of virtual cash that can only be sent and received by people in the same network, known as a blockchain.
The process can take anywhere from 10 to 100 hours, depending on the difficulty of the task.
Bitcoin users can earn Bitcoin in many ways, including paying for goods or services online.
The first Bitcoin transactions were recorded in 2008 and the currency has since become a popular digital payment option, with more than $300 million in sales in less than two years.