With an exchange in New York City, you can trade the digital currency between your bank accounts.
And you can do it with cash.
But the real-world use of Bitcoin is in a different space.
That space is the exchange of real-time payments in real time.
So the question becomes: how do you trade that for cash?
“You need to have a way to have some sort of real time exchange.
But we’re still at the early stages of developing that,” says Andrew McAfee, chief technology officer at Coinbase, which helps facilitate Bitcoin transactions.
“It’s a pretty complicated process to get it right, but that’s what we’re focused on.”
In addition to Coinbase, other exchanges that facilitate Bitcoin exchanges include Bitstamp, Bitstagr, and Bitfinex.
And there are many more that will soon follow.
But it’s a crowded space.
To be sure, the virtual currency’s rapid rise has created a lot of problems for financial institutions, such as the recent Mt.
Gox bankruptcy, and its associated regulatory scrutiny.
But Coinbase is not the only exchange that provides Bitcoin-based liquidity.
As Bitcoin has become more mainstream, the financial industry has been struggling to find a way for people to buy and sell the digital coin in real-life.
And that’s created an enormous demand for exchanges, as well.
For example, Bitfinexx has over 2 million active accounts, and the company has over 50,000 merchants that accept Bitcoin payments.
And its CEO, Mike Novogratz, has said that his company is targeting $1 billion in annual revenue.
And for now, he says, he can’t figure out a way in which people can pay for goods and services with Bitcoins.
The problem, of course, is that people have to use other payment methods to do that.
And for now it’s difficult to make a good living trading Bitcoins for dollars, or euros, or yen.
So, even though people are buying and selling, and some are buying with Bitcoin, the currency has yet to have the kind of mass adoption that Bitcoin has had.
“I’m not a Bitcoin expert.
I don’t think I’ve been able to understand the entire history of Bitcoin, let alone understand why it is the way it is,” says Michael Novograts, a former JPMorgan Chase analyst and a Bitcoin investor.
“If I had a million dollars, I’d probably buy a house and build it in my garage.”
Novograts says that he has heard of Bitcoin exchanges, but hasn’t taken them up on his offer to buy shares of his company in the cryptocurrency.
He also says he’s never been able, in good conscience, to use the currency to buy or sell.
And he says that, until recently, the only way for someone to do it would have been to use Coinbase.
In other words, for the time being, it’s not easy to buy Bitcoin with cash or through an exchange.
But that’s changing.
Bitcoin exchanges are increasingly taking the next step in developing a virtual currency that’s more like a credit card.
They’re beginning to offer products that let people buy and hold Bitcoins for a limited period of time.
But they’re also making it easier for people with limited financial resources to do the same.
To do that, the exchanges are offering their customers a new way to buy Bitcoins, and are allowing them to make cash payments.
But the Bitcoin exchanges are also offering customers a way of using Bitcoin to buy things with Bitcoin.
In the meantime, the value of Bitcoin continues to climb.
As of June, it was trading at about $14,500.
And as of Tuesday, it had reached $17,600.