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Brazil SuperMarket Allows Customers to Pay Using Crypto

Oásis Supermercados, a supermarket based in Rio de Janeiro, Brazil now allows their customers to pay for groceries using cryptocurrency.

According to Portaldobitcoin, the supermarket has an annual turnover of around 25 million reals ($6.45 million). It has 2 stores including 90 workers, 20 of them are cashiers. The store has recently introduced cryptocurrency payment options to its customers. Thus the cashiers are trained to accept cryptocurrency payments in the store.

Bitcoin(BTC), Bitcoin Cash(BCH) and Litecoin(LTC) are the cryptocurrencies they are currently accepting. These payments are taken care by third-party payment system Coinwise. The store will receive its money from Coinwise in fiat currency every 3 days.

Douglas Andrade the current manager of the supermarket said that these crypto payments can be done easily and it’s not complicated. Also, he added that it’s similar to that of using a credit card.

The Supermarket has not yet received any cryptocurrency because it just introduced. But the news of accepting crypto has been circulated in the city and the store has received a good feedback about it.

Cryptocurrency is evolving in Brazil, But there are also illegal activities taking place involving cryptocurrency. Recently we had seen Brazilian federal police caught the members of the drug smuggling operation. They were using Bitcoin in order to launder money globally.

But if the police are well trained to track down illegal activities involving crypto then this won’t be an issue. Seeing the positive side of cryptocurrency being used as payment in supermarket other businesses might also involve in it.

Let us know what you think regarding the Brazilian supermarket accepting cryptocurrency.

About author

Coming from a University Education in Computer Science, I am interested in blockchains and Bitcoin since 2014 and even mined at the time. The rumors of Bitcoin bubble made me run away, but I have come back to it since 2016 and have been studying it ever since with passion.
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