Bitcoin Adoption In South Africa: The Future Of Cryptocurrency Is Now After All
To all the naysayers and unbelievers in cryptocurrency, I hope this further convinces you that cryptocurrency is neither a Ponzi scheme nor a failed project. All that’s happening in the cryptocurrency space is what I like to call a "mere stumbling block" (hopefully).
Just as countless countries and businesses have wholeheartedly adopted cryptocurrency as a method for business transactions, Pick n Pay, a South African supermarket, has joined the bandwagon. This supermarket happens to be one of the biggest in the country, with well over 35 locations across the country.
One of the largest supermarket chains in South Africa, Pick n Pay, reportedly enabled customers to settle their bills in cryptocurrencies, including bitcoin. The offering covers 39 of the company’s stores located across the country.
The National Children’s Advocacy Center also hopped on the bandwagon, allowing people to donate digital assets.
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I should also mention that this recent Bitcoin adoption by the supermarket came as no surprise to quite a good number of individuals since there had been subtle hints by the business owners about the addition or inclusion of a new payment option a few months back. The objective is to make company transactions as smooth as possible, maybe by expanding payment choices for their consumers.
So, if you're in South Africa and want to go shopping, you may take the crypto route. The entire procedure is as quick and straightforward as the word "simple" implies.
"The transaction is as easy and secure as swiping a debit or credit card. Customers scan a QR code from the app and accept the rand conversion rate on their smartphone at the time of the transaction. The service fee for each transaction is minimal, costing the customer on average 70c, and takes less than 30 seconds."
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Although using bitcoin for supermarket shopping purchases is not yet popular in South Africa, Pick N Pay's acceptance of bitcoin is not a bad step.
As I stated earlier, cryptocurrencies have become highly popular among the local population, and similar moves could fuel the future progress of the domestic monetary network.
Like Pick N Pay, several other organizations have adopted cryptocurrency as a means of payment. Oh, I do hope to see the day Nigeria adopts Bitcoin for payments. However, considering the ban on cryptocurrency is still in place in my country, it doesn’t seem like it’s happening anytime soon.
Other organizations that have adopted crypto for financial transactions include the Palazzo Versace Hotel in Dubai, Varus in Ukraine, and the National Children’s Advocacy Center, among others.
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