130 Coffee Shops in Europe Started to Accept and Sell Crypto

Crypto is gaining in popularity but many merchants still don't accept it - meaning you are stuck with those age-old, boring options of paying by card or cash.

A "Technology enabler" startup known as Cyclebit is aiming to simplify things by enabling stores to serve as "Cryptocurrency gateways" - enticing crypto enthusiasts to come and spend their coins with them and inject some new funds into the economy.

The idea has already started to gain traction - and Cyclebit is already working with businesses in Europe and South Korea.

According to the print version of the Spanish business newspaper Expansión from 16 Oct 2018, the crypto payment technology is being rolled out in Nostrum - a network of 130 coffee shops throughout Spain - which has just started accepting and selling Bitcoin.

Ultimately, Cyclebit hopes to make every point-of-sale device capable of accepting crypto payments, and its team has amassed experience in building large payment networks.

"Merchants would be given a"ready-to-install, free customizable app for iOS and Android which is able to accept payments from crypto wallets as well as old-fashioned banks.

Integration protocols for online and mobile stores would soon follow, with each tool providing an easy way for merchants to control and analyze the crypto transactions they have completed.

The company also believes that the crypto phenomenon, at least in its current form, is far too complicated for the mass majority of consumers.

Cyclebit says most shoppers find the idea of crypto payments as "Prohibitively complex as obtaining crypto in the first place" - and passionately argues that this must change.

Work is continuing to develop Cyclebit's core product: a complete ecosystem for crypto ownership and payments that supports an array of cryptocurrencies and popular altcoins.