Cryptocurrency & Blockchain Business

Bitcoin already pays for perfumes, hotels and even lawyers in Portugal

Cryptocurrencies are gradually entering the daily life of the Portuguese. The ECO went shopping with bitcoin. And we were able to buy perfume, luggage and bicycles, book hotels and even hire lawyers.

On the first day that Casa Campos , in Sátão, began to accept digital currency as a means of payment, this Monday, the son of the owner of this fashion store sold a perfume for the price of 22 euros. But, contrary to what usually happens, the customer did not even have to go to his pocket to look for the banknotes and coins to make the purchase. He picked up his smartphone and, from his digital wallet installed on the mobile phone, transferred Ripple in the same amount of euros of the perfume to the digital wallet of storekeeper Fábio Campos. And the transaction was sealed. Over the counter. Virtually.

With the euphoria around the crypto-coins , more and more shops and services in Portugal are accepting digital currency like Ripple or bitcoin as a bargaining chip. This is also the case of the lawyer Filipa Correias Vilas in Lisbon, the Molinum hotel in Loulé, or the Velo Culture bicycle store in Porto, who are trying to upgrade their business in the face of the revolution promised by the blockchain in the payment system throughout world.

At Casa Campos, you do not even have to enter the store to realize that we can go shopping and pay with digital coins. Those who pass on the street easily notice the plates placed strategically in the window and indicate that the establishment allows transactions with bitcoin, litecoin and ethereum.

“We wanted to extend payment methods to the population. Digital coins are the method of the future, it has come to stay “, tells ECO Fábio Campos. “The current financial system will become obsolete and we are already updating to this new reality,” he says.

The process of buying an article from Casa Campos, which sells garments, footwear, bags and other accessories, is simpler than the unsuspecting customer can think.

Explains Fábio Campos: “The customer chooses the article, goes to the counter to make the payment and there finds a frame with QR codes corresponding to each currency we accept . With your digital wallet , for example Gdax, the client will scan the QR code from your mobile phone and perform the transfer. “ Et voila . We just bought a perfume that costs € 22 using Ripple – Casa Campos stopped accepting Ripple and bitcoin cash shortly after, after the criticism on its Facebook page for accepting centralized digital coins.

“The secret is to keep the digital coins now,” says Fábio Campos. “As we will keep the digital currency, we must have availability in euros to pay taxes to the state. It still does not have its digital currency, unfortunately … “, laments the seller.

The customer chooses the article, goes to the counter to make the payment, and there he finds a frame with QR codes corresponding to each coin we accept. With your digital wallet, for example Gdax, the client will scan the QR code from your mobile phone and carry out the transfer.

Fábio Campos

Shop House Campos

Bicycles, hotel rooms and a lawyer …

We drove a little further north and found Velo Culture , a shop and bike shop right in the center of Porto. Since December this establishment has accepted bitcoin as a means of payment at the suggestion of a customer. Since then, they have sold a bicycle and various accessories for a total of 1,500 euros and all in digital currency.

“We usually convert immediately, we have no speculative interest, just to provide good customer service,” says Miguel Barbot, one of the partners of Velo Culture.

To the south, at the Molinum hotel in Loulé, the first guests with bitcoin in the wallet are still waiting. This bed & breakfast has been accepting room reservations for this digital coin since last October.

“All you have to do is tell us that you want to pay for the room in bitcoin. Then, through your digital wallet makes the transfer of currency in the corresponding amount in euros to the company’s wallet. And it’s done. We issued the invoice, as we normally do, “says Joana Mendes, director of the hotel located in Boliqueime.

“We believe that digital coins are the future and will have a great impact on the means of payment. Our adherence to the digital currency was largely due to the possibilities that blockchain technology allows. And we find it interesting to be open to this possibility given the growing weight of technology in our lives, “he says.

We believe that digital coins are the future and will have a great weight in the means of payment. Our adherence to the digital currency was largely due to the possibilities that blockchain technology allows. And we find it interesting to be open to this possibility given the growing weight of technology in our lives.

Joana Mendes

Director of hotel Molinum

Do you prefer Lisbon to the Algarve? In the capital there are also several establishments on the temporary accommodation platform Airbnb that accept bitcoin … or rather,Ethereum because the transfer rates are lower. At least that was the answer we received when we contacted the owner of an apartment with a bedroom and a bathroom in themiddle of Alfama . The accommodation can be booked for 49 euros per night.

“Good morning, yes, I accept, but as the bitcoin fee is high, maybe it is more advantageous to use Ethereum :),” Luciane replied, after being questioned by the ECO if he accepts currency as a form of payment.

Still in Lisbon, we find the lawyer Filipa Correias Vilas . This specialist in the areas of auditing and compliance, taxation, banking and family mediation and conflicts accepts bitcoin as a mode of payment for the legal services provided by the offices in Entrecampos.

Alberto Teixeira

Alberto Teixeira

Editor at ECO, a Portuguese Economics News Service

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