— How do you buy and trade cryptocurrencies?
That’s the question being posed by the United States military exchange for a home exchange, the Navy Exchange, that has the ability to trade digital currencies for dollars.
The exchange will open this week, and has been waiting for the government to approve its plan for its new home exchange.
“This is the beginning of something,” said Army Sgt. Andrew P. Ollie, the exchange’s executive director.
“We are opening up a real opportunity for the Army to get back to basics and get back on its feet.
It’s something that we are hoping to be a catalyst for other organizations.”
The Army Exchange has been looking to use the digital currency to finance its operations, including the Navy.
If the exchange wants to go ahead with the plans, the currency would be traded as dollars on its website.
However, if the government approves the plan, the Army would have to apply for the trade licenses needed to operate.
It could take at least two years before the exchange can begin accepting bitcoin.
Purchasing bitcoins from a bank, a physical store, a payment processor or through an exchange could be costly, so the Army is looking to do it at home.
Ollie said the exchange will start accepting bitcoins on Tuesday.
Military exchanges are not the only ones looking to get off the ground with bitcoin, either.
The Army Exchange is also working on a mobile wallet service for soldiers to use to pay for things like meals.
The exchange is a private company and it is not required to file paperwork with the Internal Revenue Service to do so.