Whole Foods, Nordstrom, and Crate & Barrel can now accept bitcoin and other forms of cryptocurrency at their retail stores.
Whole Foods, Nordstrom, Crate & Barrel and many other retailers are now able to accept Bitcoin and other forms of cryptocurrency.
This new payment option is enabled by a partnership between the payments startup Flexa and Gemini, the digital currency exchange run by tireless bitcoin advocates Tyler and Cameron Winklevoss.
He explains that merchants will (i) get significantly less expensive and fraud-resistant transactions, (ii) can use the same payment hardware they currently use, and (iii) receive payment in fiat currency, not crypto.
Nevertheless, if people begin to ‘spedn’ more cryptocurrency, it may make sense for these retail giants to accept bitcoin directly and save on processing fees.