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Ohio becomes first state to accept bitcoin for tax payments

NOVEMBER 26, 2018 | by Jessie Balmert | THE CINCINNATI ENQUIRER

“Warren Buffett called Bitcoin 'rat poison,' but the technology behind it is something everyone can agree on. … Here's how it works: a business signs up through OhioCrypto.com, enters their tax payment information then pays through a third-party processor, BitPay. BitPay then converts the bitcoin into dollars that are deposited into the state's accounts. There is a minimal fee, 1 percent, for the transaction compared with 2.5 percent assessed when businesses use credit cards.”

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