You may be hearing the word “cryptocurrency” pretty frequently in the news these days, from the market falling and rising again, to Elon Musk announcing that Tesla will no longer accept Bitcoin — one type of cryptocurrency — and El Salvador becoming the first country to adopt bitcoin as legal tender.
While it may still feel like a foreign concept, Asheville’s community has been familiar with cryptocurrency since as early as 2015, and as of March 2021 Grand Bohemian Hotel-Asheville has begun accepting bitcoins as payment. Moreover, a new local cryptocurrency platform called the Resource Network has just arrived in town, and will use blockchain (aka, a cryptocurrency database) to support a barter system-style online currency “Resource Dollars.”
With all of these new developments, let’s brush up on the details of cryptocurrency + how you can get involved in these transactions at a local level.
What is cryptocurrency?
Simply put, these digital “tokens” are intangible assets in exchange for real money that can be utilized to purchase goods + services. According to CoinMarketMap, there are currently 6,700+ different cryptocurrencies available to the public (think: Bitcoin), equalling a total value of ~$1.7 trillion.
💰How to get involved locally
- CryptoCurrency Asheville: Meetup Group | Local group of ~60 members who discuss all forms of cryptocurrency about once a month. The group is open to all knowledge levels.
- Resource Network | Try your hand at using this local digital medium of exchange by signing up (free of charge) and listing your goods and services.
💰Other places in Asheville that accept cryptocurrency
Bonus: There are also several retail locations around town that host Crypto ATMs, where you can purchase Bitcoin worth anywhere from $20-$12,500.
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