The city of Williston now accepting bitcoins
The past year has been a good one for the cryptocurrency space as several companies and retail outlets are now accepting them as payment for goods and services. Cities don’t want to be left out of this movement, and some of them are now accepting cryptos for payment of utility services.The city of Williston in North Dakota announced yesterday that residents can now pay for their utility services in Bitcoin. Finance Director Hercules Cummings explained that “We have partnered with BitPay, the largest virtual payment merchant whose partners include Microsoft and Facebook. We are the first municipality in the State of North Dakota and the third in the nation to offer this service.”
The city explained that cryptocurrencies can only be used to pay for utilities at the moment. The government needs to conduct quality assessments and volume evaluation before allowing residents to use cryptocurrencies to pay for other bills such as landfills, permits, and licenses.
Residents who wish to pay their utility bills in Bitcoin can do so by visiting the official website of the City of Williston and setting up an account with BitPay. This is followed by choosing the utility bill the individual wishes to pay for and using BitPay to pay with Bitcoin. BitPay converts the BTC to fiat currencies afterward, and the city receives the funds.
“Individuals can establish a digital wallet directly with BitPay or via another service such as Coinbase or Binance. When individuals pay with cryptocurrency, the transaction is at a locked-in exchange rate. BitPay uses modern technology to convert the Bitcoin into fiat while shielding the customer from any volatility risks,” the press release added.
Cryptocurrency adoption continues to grow
The adoption of cryptocurrencies has grown massively in recent years, with interest from Wall Street firms, retail traders, and cities. The city of Williston is the third municipality in the United States to accept BTC as a payment option for utility bills.More companies, financial institutions, and cities could adopt cryptocurrencies in the future as people start getting comfortable paying for goods and services in digital currencies.
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