Overstock.com is an online retailer that has been in operation since May 1999. It is one of the most successful online brands of its kind and has been making annual billion dollar profits since 2011.
On January 9th, 2014, the company made a step that turned out to be historical. It started accepting bitcoins as a form of payment for its products and services.
Indeed, it is not only the first major online retailer to embrace crypto coins but also the first brand of its size.
Overstock has been a strong Bitcoin supporter
That gave other brands in different sectors of the economy the confidence to trust Bitcoin and crypto currency in general. In fact, several major brands such as IBM and Microsoft have followed suit and added Bitcoin to their payment options, at least for some of their products.
For Overstock.com, this decision is paying off. In a period of one year, the company has received payment totaling to $3 million for sales on its site that came in the form of bitcoin.
Exactly one year later, the company has taken yet another step to make Bitcoin not only more useful but also accessible. On January 9, 2015 it installed a CoinOutlet ATM at its headquarters located in Salt City United States on the address 6350 South 3000 East, Cottonwood Heights, UT 84121.
The CoinOutlet ATM at Overstock headquarter is accessible 24/7
About this development, the company’s CEO, Patrick M. Byrne, said, “Moving crypto currencies out of the realm of geeks and into the realm of the rest of us requires making changes at all levels of the financial ecosystem. An important part of this effort is making digital money ATM accessible.”
Indeed, Bitcoin ATMs gives crypto currencies a presence in the physical world even when it remains digital. It is an interface that will make it easy for the ordinary man and women on the street to be part of the new age money.
The CoinOutlet ATM at Overstock.com’s headquarters charges no fees and is open to members of the public 24 hours a day and seven days a week.
If you find yourself in Salt city and need to buy or sell bitcoins fast, secure and easy, you should visit the CoinOutlet’s ATM at this location.