Monday, November 12The Voice of London

A silver lining for Cryptocurrency

130 coffee shops in Europe started to accept and sell Crypto just before the Central Bank of the Russian Federation shared their excitement that the ‘fever’ over cryptocurrency has begun to cool off.

Photo credit: David Shares on Unsplash

 

The announcement made by the head of the Central Bank of the Russian Federation, Elvira Nabiullina, stated that the cryptocurrency fever has gradually begun to disappear, as more practical investments have surfaced over the past few months.

However, a startup called Cyclebit has just proved them wrong, offering a solution for crypto enthusiasts that find the ordinary paying methods a bit boring and ironically, for the cash and card users – unsafe. Cyclebit seeks to make crypto a part of everyday life, giving the possibility to use your assets to pay for the day-to-day expenses through the innovative technological currency.

Small steps to success. The idea has already started to gain traction – with Cyclebit already working with businesses in Europe and South Korea. The crypto payment technology debuted in Nostrum – a network of 130 coffee shops throughout Spain – which has just started accepting and selling Bitcoin through Cyclebit terminal.

Photo credit: Cyclebit

Cyclebit have stated that: “Our experience says, that at the heart of any successful solution is always simplicity and usability. This is how our approach is meant to change cryptocurrency – make it simple, convenient and accessible for both merchants and mass customers.”

The team shares that the infrastructure could ultimately help to reduce the inconsistency associated with cryptocurrencies. Easy ways to pay using crypto would help it make the transition from an enthusiasts’ hobby to a mass financial asset – with mass ownership preventing massive fluctuations.

Words: Debora Kirilova | Subbing: Jeremy Ainsworth 

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