Posted on: November 01, 2018 03:00 PM

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More than ten companies received licenses to operate bitcoin in NYS

The NYS Dept of Financial Services issues licenses to more than 10 companies to operate bitcoin as alternate form of payment whether its phone, laptop or tablets.

The bitcoin process is similar to ATM machine operating under virtual currency. NYS advise all to check companies for a issuance certificate before processing with bitcoin.

The listed companies are BitFlyer, BitPay, Coinbase, Circle, Genesis Global Trading, XRP II, Square, and Xapo, with charters issued to Gemini Trust Company, Paxos (formerly itBit), and Coinbase Custody Trust Company LLC and Coinsource.

In order to obtain bitcoin, check for machines similar to ATM and then open an account.

Afterward, insert cash or bank card to obtain bitcoins which can be used for trading, buying at the local stores that accepts them.

By 2020, about 10% of payment transactions will be form of bitcoin according to NYS.