Samsung the electronics giant company has started accepting cryptocurrencies improvement in three Baltic countries. The countries in which cryptocurrencies are accepted by Samsung as payments include Latvia, Estonia, Lithuania.
CopPay the technology platform for payment gateway was the first one to report that Samsung has started accepting cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple, NEM. It further stated that there is an increasing trend of businesses accepting cryptocurrencies for products as well as services. This is the reason why Samsung has also started accepting cryptocurrencies. You will be able to easily buy hardware like mobiles, laptops as well as tablets with the help of cryptocurrencies.
The popularity of cryptocurrencies is increasing day by day in the Baltic states. Also, the taxation rules in most of the Baltic states are pretty easy as well. This is one of the main reasons why using cryptocurrencies is also much easier. Also, investing in cryptocurrencies enables less or simplified form of taxation, more and more investors from these countries are investing in cryptocurrencies. Moreover, these investors are holding the cryptocurrencies for a longer period of time as well. Due to this, there are quite a few cryptocurrency holders in these countries.
On the other hand, Samsung is trying to enter the cryptocurrency space. It also started manufacturing recently the cryptocurrency mining chips as well. This clearly indicates that Samsung believes in the power of cryptocurrency. It also believes that cryptocurrency mining will gain more momentum in the future as well. Moreover, Samsung is already testing out the distributed ledger technology. It aims to improve the efficiency of the distributed ledger technology. Only when that is done, it can be used on a large scale as well.
The technology platform CopPay aids in an easy integration of cryptocurrencies into the payment ecosystem. It has been seen the increased attraction in the last one year as well. This is another indicator that more and more businesses are looking to accept cryptocurrencies as well.
It remains to be seen whether Samsung will start accepting cryptocurrencies in other countries as well or not. For now, however, it seems like it is a positive news for not just these three Baltic countries but also the cryptocurrency holders all over the world. If Samsung expands the acceptance of cryptocurrencies to other countries as well, that will make it easier for the cryptocurrency holders to buy various gadgets with the help of cryptocurrencies.
Update – 24/07/18
Samsung’s Spokesperson denies any such partnership with Copay to start accepting cryptocurrencies. According to TNW, The spokesperson said “Our official response is that the rumor is not true,”
So this clearly shows that Samsung won’t be in partnership with Copay at the present moment. But in the future, we can expect them to work together.
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