Miami-based Mintspare has launched what it says is the first electronics trade-in service that pays its customers in the digital currency bitcoin.
As major online retailers continue to adopt the peer-to-peer currency as a viable payment alternative, Mintspare aims to make it easy for the average person to own bitcoin, the company says.
"This approach allows the general public to benefit from bitcoin investments, without the complexities that are associated with obtaining the virtual currency," said Galfry Puechavy, chairman and CEO of Mintspare, in a news release. "Bitcoin as a form of payment is here to stay and as the adoption rate increases, it will prove to be a reliable store of value."
Mintspare.com's U.S.-based customers can trade-in their used iPhones, iPads, iPods, smartphones, cameras, laptops and other forms of electronic devices, in exchange for bitcoin. Once orders are submitted through the Mintspare.com portal, customers will be given an instant quote based on the fair market value of their device. Customers can then print a shipping label and safely package their equipment for shipment. Within 48 hours of receiving shipment, Mintspare will process the device and issue bitcoin to the customers' Mintspare account instantaneously which can then be withdrawn to their own bitcoin wallet address.