Cryptocurrency Payments Now Accepted At Brecksville Businesses
BRECKSVILLE, Ohio (WJW) – Pay me with Bitcoin is a phrase made popular by professional athletes, but the use of cryptocurrency in day-to-day transactions is not common in most businesses in the region.
Yet a local business owner is banking on a head start.
The Juice Lab, opened just under a year in Brecksville, is one of the few local businesses that accepts cryptocurrency payments.
“Whatever we can do, even if it’s something very early in the stages of being generally accepted, I’m still going to save money now, that’s all I’m looking to do,” said the owner Dom DiGeronimo.
Cryptocurrency is not yet a popular form of payment at Juice Lab, but DiGeronimo said he believes this will be the case over time and wants to be on the cutting edge of technology.
“Trying to be ahead of the coming wave,” said DiGeronimo.
So how does it work? The Juice Lab uses the BlueWallet app allowing users to store, send and receive cryptocurrencies. Customers scan a QR code on their phone to make payments at checkout.
A client turned cryptocurrency consultant for Juice Lab, Monty Wesoloski helped DiGeronimo set up the new payment method for the company.
“It’s that easy as long as you can scan a QR code and click send, you can download the app and get started,” said Monty Wesoloski, founder of Monty Bitcoin. “It just offers a digital way to transport money. “
DiGeronimo said paying with cryptocurrency instead of credit helps lower the fees the company incurs.
“There’s a 3.29% charge on a credit card every time you swipe it and there’s also a 10% or 15% charge you get for every transaction you make….
Many clients don’t invest in cryptocurrency and for some it can be confusing to get started and depending on how much they plan to invest.
“Bitcoin has certainly increased in value, but you only need $ 10 worth of Bitcoin to be able to spend $ 10,” Wesoloski said. “So you don’t necessarily have to buy an entire Bitcoin that’s worth around $ 50,000 today to be able to use it. You can just use fractions.
In the same way that healthy eating has become more valued over time, making it possible for businesses like the organics on offer at the Juice Lab, DiGeronimo said he hopes cryptocurrency payments will grow soon as well. .
“It definitely cuts costs,” said DiGeronimo. “Cutting costs is like breathing something you should be doing all the time. “
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