What is cryptocurrency and how can we use it?

Posted at 8:03 PM, Nov 28, 2017

Bitcoin is gaining popularity especially here in Western New York. Bitcoin is a digital currency that you can send through the internet. 

Adventure Bound on the Fly in Ellicottville is now accepting Bitcoin as a form of payment. 

"I became fascinated with the technology," John Rounds, Co-Owner of the outdoor store, said. 

Rounds bought his first Bitcoin in 2014. 

While Rounds says not many people come into the store and actually pay with Bitcoin, he also says the cryptocurrency is relatively new. 

"I wouldn't be surprised if in my lifetime there are no more dollar bills or coins for paying," he said.

Bitcoin has reached an all time high as of Tuesday morning reaching just under $10,000. 

"From a business standpoint we are delighted to be leading and a part of innovating," Rounds said.

Rounds created the first ever Crypto-Sunday in an effort to spread the word about cryptocurrencies. The store offered a 20% discount this past Sunday for customers paying with Bitcoin.