Startup Retailer Bitfash Gives Shoppers a Reason to Spend Bitcoins

Don’t know what to do with all of those Bitcoins you have digitally laying around? A new startup called Bitfash is looking to provide a more conventional outlet for your e-currency by teaming up with popular name-brand clothing stores.

According to TechCrunch, Bitfash was launched in April by its founders Chris Woods and Keyur Kelkar. Based in Australia and China, Bitfash acts as the middle man between retailers and shoppers. It works the same way as any other online retailer ─ shoppers scroll through a digital catalogue of items and in just a few clicks you use your Bitcoins to order some fresh new pants. Bitfash processes your Bitcoins and contacts the retailer to send your items directly to your door through the mail. Due to its early state, Bitfash currently only offers clothes from Forever 21, Zara, and men’s clothing retailer Mr. Porter. However, Bitfash aims to add a fourth brand in the next two weeks.

“We started learning more about the space from an entrepreneurial perspective and saw that most businesses taking Bitcoins are electronics based,” said Woods. “So we tried to look ahead into the future and see where there is potential for mainstream adoption. [Kelkar] and I both have an interest in fashion, so it was a no brainer and that’s why we really went for it.”

Don’t be discouraged by its humble amount of clothing options ─ according to Woods, they have been contacted by several online retailers who are eager to get onto their roster.