Bitspark Updates

Bitcoin & Burritos: event roundup celebrating Bitspark’s Crypto Cash Point partnership with Cali-Mex

August 30, 2019

Bitspark has exclusively partnered with Cali-Mex to provide a network of Cash Points throughout Hong Kong where you will be able to exchange between cash and crypto. Cali-Mex is a Hong Kong based taqueria chain and from September 25th onwards, all of its 16 restaurants will connect to the Cash Point network one by one with the Sheung Wan restaurant as the first live Cash Point.

The Bitcoin & Burritos event

To celebrate the launch of the Cali-Mex Cash Point network, we organised an event at the Sheung Wan restaurant and it was packed - to put it mildly. 

People were lined up halfway around the corner as the local bitcoin community, Bitspark customers and people simply interested in crypto all came together to learn more about our new mobile app, how Cash Points work and, of course, to enjoy Cali-Mex’s signature burritos and margaritas served up by the Cali-Mex team.

With the restaurant bursting at the seams just a couple minutes in to the night, the Cali-Mex Cash Point network has all the hallmarks of becoming the primary service for anyone in Hong Kong that wants to buy or sell cryptocurrencies like Bitcoin, Ethereum and more using cash.

And with the option to eat incredible food at the same time, buying Bitcoin just got delicious.

Cali-Mex Cash Points: how it works

Starting September 25th, the Sheung Wan restaurant will be the first Cali-Mex location to connect to Bitspark’s Cash Point network, with the other restaurants following closely. This means that you can buy or sell crypto at Cali-Mex using cash.

Through the Bitspark mobile app, you can find the nearest Cash Point near you where cash-trades can be made. When visiting a Cali-Mex Cash Point, you can exchange HKD cash for the HKD stablecoin, sparkdex.HKD, at a 1.5% fee. 

Learn more about stablecoins here.

If you’re buying, the HKD stablecoin balance will show up in your app within seconds after the cash trade is verified by both you and Cali-Mex. With HKD stablecoin in your wallet, you can do many different things such as exchange into different currencies, transact with others around the world or send funds to your favourite crypto exchange like the Sparkdex to start trading on the DEX.

Cashing out works exactly the same way in process and cost. Say you want to cash out Bitcoin, then you would first need to exchange BTC for HKD stablecoin, and then visit a Cali-Mex Cash Point to convert HKD stablecoin for HKD cash at a 1.5% fee.

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