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Bitcoin

Bitcoin on the streets: the trick to get UK traders to BTC

“Do you accept Bitcoin? Do you like it?” These questions echoed in the streets of Reading, near London, England, after a hard day for two British Bitcoin (BTC) advocates.

Bridge2Bitcoin co-founder James Dewar and MSW, a business developer for CoinCorner, took to the streets of Reading with the mission of a merchant adoption marathon.

Dewar told Cointelegraph that about 50% of the 63 traders they spoke to were directly rejected, and 10 out of 30 were “worth following.” Three workplaces were evacuated at the scene or shortly thereafter. Dewar continues:

“It’s a 3% hit rate within two weeks, from my point of view from a standing start is pretty good if you think about the adoption curve.”

Indeed, while 3 out of 63 traders may seem insignificant, they represent where the world stands in terms of Bitcoin adoption.

Bitcoin

Worldwide Bitcoin adoption still around 3%

Dewar explains that Bitcoin awareness is currently low as we sit at the lower end of the Bitcoin adoption threshold. However, it’s still worth a try and asking your local retailer if they’re buying Bitcoin.

“We think it’s an obvious no-brainer, right? There is literally no downside to doing it. But getting that message across; you’ve got to be fairly thick-skinned to understand that people don’t [get it] –it’s like handing out tenners on the street!”

MSW, accompanying Dewar, explains that accepting Bitcoin makes business sense for many traders. “One of the benefits for many is that you can only accept pounds. It’s like a cheaper version of Sump with bonus marketing. ” SumUp is a point of sale solution popular in bars and restaurants across the country.

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MSW has since embarked on Bitcoin merchant adoption marches in Edinburgh and Oxford with varying degrees of success. Coach Carbon, a Bitcoin football coach, partnered with MSW in Oxford a few weeks later, while in Edinburgh Jordan Walker, CEO of the UK Bitcoin collective, joined MSW. Walker and MSW had a day to attend to traders ahead of the UK’s first Bitcoin-only conference.

MSW underlines that spending Bitcoin in stores is also educational:

“I am bullish about merchant adoption as a way of demystifying Bitcoin and showing that it has a use. Bitcoin is a way of buying a coffee, or an ice cream or going to your favorite cat café and stroking some cats.”

About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

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