BitInstant was a bitcoin exchange start-up based in New York City. Founded in 2011 by Gareth Nelson and Charlie Shrem, BitInstant provided a means to pay traditional funds rapidly to bitcoin exchanges.  As of January 2014, BitInstant's website is no longer available, displaying only a blank page. Today is the thirtieth birthday of the famous and unfortunate Bitcoin (BTC) pioneer, Charlie Shrem.. In order to understand the importance of his figure in the world of blockchain and bitcoin, it is necessary to revisit the highlights of Shrem’s life, which for years has been trying to support Bitcoin, also through the Bitcoin Foundation. BitInstant, founded by Gareth Nelson and Charlie Schrem was another notable alternative in the same timeframe, funded by the Winkelvoss brothers and with Eric Voorhees (who now heads up ShapeShift ... As 2017 began, bitcoin had finally recaptured the $1,000+ price level that was lost following the events at Mt. Gox. Concurrently, and perhaps somewhat fortuitously, Changpeng Zhao and his team were busy at work developing a new crypto to crypto exchange to be named Binance. As spring of 2017 arrived, the first “alt season” and ICO (Initial Coin Offering) boom of that year had begun. The ... Owing to this event, Shrem and fellow Bitcoin enthusiast Gareth Nelson partnered to launch BitInstant, an ecommerce website designed to “help people convert dollars into Bitcoin.” BitInstant became an immediate success; at one point in time, BitInstant was responsible for approximately 30% of all Bitcoin transactions. Through this new company, Shrem acquired a significant amount of wealth ... Shrem and Gareth Nelson, a friend he met online, had similar frustrations with the length of time it took to buy and sell bitcoin on exchange sites. They started BitInstant, a more user-friendly company that charged a fee for users to purchase and make purchases with bitcoins at over 700,000 locations, providing temporary credit to speed up transactions.   Initially a side project ...
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