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February 10, 2015updated 04 Apr 2017 4:04pm

San Francisco gets its first bitcoin retail store

20Mission, a 41-room community in San Francisco for art and technology creators in the Mission District, has unveiled its plans to launch the first bitcoin retail store in San Francisco named Nakamoto's electronics.

By Verdict Staff

20Mission, a 41-room community in San Francisco for art and technology creators in the Mission District, has unveiled its plans to launch the first bitcoin retail store in San Francisco named Nakamoto’s electronics.

The venture, which follows the initial business concept behind another 20Mission start-up Purse.io, has mostly been funded by a Brazilian peer-to-peer lending platform BTCJam that gathers investors and bitcoin enthusiasts.

Nakamoto’s electronics will offer a range of electronic goods, including Chromebooks, Amazon Kindles, Apple headphones, and Raspberry Pis in lieu of crypto currencies at a minimum 10% discount from fiat currency prices.

The company will have a BTM or a bitcoin ATM on site allowing users who only has cash to purchase bitcoin and take the discount on the spot.

Purse.io CEO Andrew Lee said: "San Francisco needs a killer bitcoin merchant and store. Despite what the rest of the world thinks, there are very few practical merchants that accept bitcoin in the Bay Area."

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