Mission Market Now Accepts Bitcoin
Mission Market today joins the ranks of a growing number of brick-and-mortar locations across the United States who accept Bitcoin as a means of payment.
Bitcoin, the world’s premier digital alternative currency, “has helped a lot of people think about money in a new way,” says owner, Roland Foss. “As the first-mover and with the largest network of users and merchants, Bitcoin offers a different method and an entirely different means of payment,” he says.
Bitcoin isn’t just another form of currency like dollars or euros; it is also a radical new method of exchanging value. Unlike credit cards, Bitcoin payments are not sent through a labyrinthine network of banks and processors, meaning that transactions can be completed faster and more cheaply than conventional electronic transactions. Bitcoin retains many of the useful features of cash while offering more security. And because Bitcoin has a finite supply and is not issued by a central bank such as the Federal Reserve, its purchasing power cannot be eroded through excessive money creation.
According to CoinMap.org, Mission Market joins about 2,700 other brick-and-mortar stores across the world now accepting Bitcoin. In addition, tens of thousands of on-line merchants accept it. Meanwhile, one of the largest Bitcoin payment platforms, Coinbase, boasts over 800,000 users. Even Orange County boasts several Bitcoin enthusiast groups. Analysts agree that the number of Bitcoin users and merchants will continue to rise.
While Bitcoin may not become the dominant currency of the future, for now it simply offers consumers a choice. Convenience is the cornerstone of Mission Market, and also what drove Foss to accept Bitcoin: “There is an active and growing community of people who believe in Bitcoin. They should be able to spend Bitcoin on everyday needs, in a store they know and trust, and be in and out as quickly as they expect.” Bitcoin transactions at Mission Market are managed through an Android tablet fixed at the point of sale that runs Coinbase’s Merchant app. This offers an easy, trusted method for making transactions.
With a Bitcoin market capitalization around $10 billion, Foss hopes that some of that will now flow his way: “Our business is designed to draw almost all of our customers from the immediate vicinity. Offering something like this can attract consumers from farther away without eroding our current business. As a new store, we have to be creative in building awareness and getting customers to visit us.” Without a doubt, accepting Bitcoin puts even more distance between Mission Market and other convenience markets.
About Mission Market
Mission Market is a convenience market in downtown Fullerton that opened in May 2013. Locally owned and operated, Mission Market offers the best selection of grab ʻn go foods in downtown Fullerton, as well as many other convenience and grocery products. Unlike other convenience stores, where one shops because one has to, Mission Market’s pleasant environment will make one want to shop there. With its convenient hours and location, it’s Open Just for You.