If you are a Bitcoin trader either in Australia or New Zealand, good news! Coke vending machines now accept Bitcoin as a form of payment.
What does this mean for Bitcoin?
Although a coke vending machine that accepts Bitcoin may at first seem silly or insignificant, it is actually yet another sign that adoption of the cryptocurrency is progressively increasing. The 1,200 or so machines available between the two countries means more exposure for the project. Even if many will never actually pay for a soda with Bitcoin, the simple awareness that such an option exists is already a positive.
For those who do wish to experience paying for an instantly redeemable physical product with Bitcoin, they will simply need to download the Sylo payment app. With it, they can scan a QR code in a manner reminiscent to China’s Alipay or Wechat Pay system. The crypto will then be automatically converted into the relevant local currency.
With the current health crisis involving COVID-19, any initiative that lowers customers’ physical contact with machines is beneficial. Particularly so when these machines are frequently used by hundreds of people and tourists every day. QR codes limit a user’s need to interact with both potentially contaminated surfaces and cash.
Fortunately, even bitcoin derivatives traders and spot traders that do not live in these countries can still benefit. As suggested above, the more Bitcoin is adopted as a form of payment, the more relevant and strong the cryptocurrency becomes. Other similar efforts to facilitate the use of Bitcoin for transactions include BitPay. This payment processor already works with large brands such as Shopify and Newegg to help their users pay with Bitcoin.
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