Over 900 Retailers Worldwide Now Accept Bitcoin Cash

Over 900 Retailers Worldwide Now Accept Bitcoin Cash


The number of online retailers accepting bitcoin cash (BCH) has swelled to more than 945 stores in the last few months. According to Marco Coino, which provides a directory of merchants that accept payments in BCH, more than 670 bricks and mortar retailers also now handle transactions in the cryptocurrency. In October, that figure stood at just over 500.

Also read: Australian Crypto Company Rapped for Paying Bounty Hunters for Glowing Reviews

Low Fees and Faster Settlements Draw Merchants to BCH

Europe is home to the greatest concentration of merchants that welcome BCH as a form of payment, with about 337 locations in total accepting the P2P digital currency. About 134 physical stores in North America, 120 in Australia and 75 in Asia also take payment in bitcoin cash, data from Marco Coino shows.

Over 900 Retailers Worldwide Now Accept Bitcoin Cash

Bitcoin cash offers reliable, fast and inexpensive cryptocurrency transactions when compared to traditional means of sending money. For example, credit and debit card providers generally charge fees that can be as much as 3.5 percent of every transaction. That compares with transaction fees of around $1 or less for cryptocurrency-based purchases, regardless of the value of each transaction. In the case of BCH, fees tend to be lower still, typically in the region of a few cents.

In Africa, the cryptocurrency, which split from bitcoin core over a year ago, has seen steady growth as a payment means for goods and services. BCH payments are currently established at three physical points in two countries on the continent – Kenya and South Africa – and it continues to flourish elsewhere in the world.

The number of stores accepting bitcoin cash is growing, including a few established privately owned enterprises. Jewelry maker Marks Jewelers, one of the biggest retailers of its kind in the U.S., began taking BCH for payments in October, joining a growing list of jewelry retailers including Samer Halimeh New York and Reeds.

Marks said at the time that the new payment methods, established in partnership with ecommerce platform Shopping Cart Elite, will help to expand access to its jewelry range for buyers throughout the world. “This will allow us to make our fine jewelry available to the global market while paying lower fees and avoiding chargebacks,” Joshua Rubin, director of marketing at Marks Jewelers, said at the time.

Bitcoin Cash Bounty Program

Over 900 Retailers Worldwide Now Accept Bitcoin Cash

Adoption has been hastened by the appeal of low fees and faster settlement times that are a hallmark of the Bitcoin Cash network. Acceptance by payment processors like Bitpay, used by leading retailers such as Overstock and Newegg, has also helped the cause to move forward.

In November, the Bitcoin Cash Association (BCA) and Spendbch.io started a bounty to spread BCH merchant acceptance in multiple south American countries. The BCA, which describes itself as a “community-driven, grassroots project to accelerate the adoption of bitcoin cash,” said more than 250 new businesses in Venezuela and Colombia were now being onboarded to accept BCH.

The Spendbch bounty offers funds to users who spread merchant adoption in Venezuela, Colombia and Mexico, granting them BCH rewards for helping local businesses accept bitcoin cash.

What do you think about the growing acceptance of BCH as a means of payment? Let us know in the comments section below.

Images courtesy of Shutterstock and Marco Coino.

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Cointext Launches SMS Bitcoin Cash Wallet in 4 NewMarkets

Cointext Launches SMS Bitcoin Cash Wallet in 4 New Markets


The Cointext SMS Bitcoin Cash (BCH) wallet continues its rapid expansion around the world. Residents of one more country in South America and three more in Europe now have access to the service, which allows users to send money to mobile phone numbers or BCH addresses without an internet connection, additional accounts or the need to download any apps.

Also Read: Report: Cryptocurrency Job Market Continues to Grow

Offering Brazilians an Alternative

Cointext Launches SMS Bitcoin Cash Wallet in 4 New MarketsCointext has started offering its SMS BCH wallet in Brazil, Poland, Croatia and Romania. It also now provides support for the Polish, Croatian and Romanian languages across the entire platform, the company said.

Of all the new locations, the fintech startup sounds most passionate about its expansion into Brazil, and not just because it is the largest market in South America, with more than 200 million people. “Brazilians have been suffering from corruption and bad monetary policy,” said Vin Armani, founder and CTO of Cointext. “Cryptocurrency offers a way for them to peacefully opt out of a corrupt system.”

Cointext users can access their wallets by sending SMS commands to a local access number. A new wallet is instantly set up the moment the recipient receives a message through the service. Residents in the company’s four new markets can also get a Cointext wallet by texting a command to their respective numbers (Brazil: BCH COMECAR to 29000; Poland: POCZATEK to 48539585454; Croatia: POCETAK to 385951006707; Romania: INCEPE to 4037170677).

European Expansion

Cointext Launches SMS Bitcoin Cash Wallet in 4 New MarketsCointext has rapidly expanded throughout the world since the company launched the service in March of this year. The startup’s entry into its four newest markets brings the total number of countries that are connected by the Cointext service to 29. The locations now supported include the U.S., Canada, South Africa, Switzerland, Sweden, Netherlands, the U.K., Germany, France, Austria, Portugal, Estonia, the Czech Republic, Hong Kong, Israel, Palestine, Argentina and Turkey.

The company appears set to continue growing at this rapid pace, as it aims to expand into every European market before the end of this year. “Adding Poland, Croatia and Romania brings us closer to connecting the entire continent of Europe,” Armani said. “Cointext’s end-of-year goal is to enable all 740 million European residents to text money to each other’s phones for pennies.”

Which countries do you think Cointext should expand into next? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

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