Advertisements
Get Ignite
TRENDING
  • Submit Press Release
  • Our Team
  • Editorial Policy
  • Home
  • Crypto News
  • Finance News
  • Gaming News
  • Tech News
  • Tech Guides
  • Editorial
Get Ignite

Venezuelan Retail Stores Accepts Payment in Bitcoin

by John Keegan
in Crypto News
2 min read
bi
13
SHARES
Share on FacebookShare on Twitter

Venezuela is the next county in the row of adoption of Bitcoin for buying goods and services. Now citizens of this country could easily pay for transactions at retail stores using Bitcoin. More than 20,000 Point of Sale (POS) terminals has been installed throughout the country to facilitate digital currency payment.

A deal between crypto exchange Cryptobuyer and local payments giant Mega Soft has enabled the Bitcoin payment throughout the country. With this deal, Mega Soft will connect some top retail chains and suppliers of Venezuela through Mega Soft’s Merchant Server platform to facilitate payment in BTC. Apart from BTC, these POS terminals at retail stores will also accept payment in other digital currencies such as BNB (Binance coin), Dai, Dash, ETH, Teather, and native token of Cryptobuyer exchange. Although the deal has been finalized, this payment option is expected to be live not until June 2020.

As per Cryptobuyer, the merchant has the option to keep the received payments in digital currencies to covert them instantly in fiat. Cryptobuyer facilitates the wallet facility to store the crypto for a longer time if a merchant wants to retain them.

Venezuela’s economy is struggling with constant political conflicts and massive inflation. Considering these factors, major retail chains like Burger King and Samsung is already accepting payments in cryptocurrencies through Cryptobuyer. According to the CEO of this Panama based crypto exchange, Cryptobuyer is working to connect more than 100,000 merchants through virtual currency payments.

The crypto payment is one of the most viable options to pay in Venezuela, where the worth of its national fiat currency is not more than a paper after years of enormous inflation. Despite much resistance from the government authority, Venezuela has shown an interest in utilizing digital currencies as a preferable mode of payment. This step would be another milestone in realizing the actual goal of the creation of Bitcoin.

get ignite
John Keegan

John is working as a professional news editor at GetIgnite. He is accustomed to finding daily reports. Therefore, this keen working and addiction towards his work, it helps him to find good news.

Share5Tweet3Send

Related Posts

Strike
Crypto News

Strike Launches the Lightning Payment across 200 countries

New kind of coronavirus hits Bitcoin move, 6% Down
Crypto News

New kind of coronavirus hits Bitcoin move, 6% Down

Bitcoin 23000
Crypto News

Bitcoin Price Set to Surpass Previous ATH, But When?

cryptoenter
Crypto News

Blockchain-based Ecosystem to Bridge Gap between Fiat and Crypto

coronacoin
Crypto News

Coronacoin: Another Crypto Scam or Initiative to fight Coronavirus?

brave together
Crypto News

Brave Together: A Blockchain-based alternative to Zoom Launched

Next Post
Foreign fund investors withdraw $5 billion from Indian stock market

Foreign fund investors withdraw $5 billion from Indian stock market

Please login to join discussion

About Us

At GetIgnite, We aim to bring impartial and accurate news and information about a wide range of topics within the Finance and Technology Field. We are a team of enthusiasts and professionals who work hard to produce a reliable piece of information. We cover a broad segment of the FinTech Industry and attempt to provide updates about changes taking place in this fast-paced world.

Contact Us

Email us at [email protected]

  • Home
  • Crypto News
  • Finance News
  • Gaming News
  • Tech News
  • Tech Guides
  • Editorial
  • About Us
  • Contact Us
  • Editorial Policy
  • Privacy Policy
  • Terms And Conditions
  • Use Of Cookies
  • Our Team
  • Submit Guest Post

© 2022 GetIgnite. All Rights Reserved.

  • Home
  • Crypto News
  • Finance News
  • Gaming News
  • Tech News
  • Tech Guides
  • Editorial

© 2022 GetIgnite. All Rights Reserved.