Major cryptocurrencies such as Bitcoin, Ethereum, Litecoin, etc. will soon be accepted as payments at some of the H-E-B grocery stores in Texas. The meme-based crypto which took over the financial market and became a close competitor of Bitcoin, Dogecoin, would be among the list of accepted cryptocurrencies. Dogecoin is also favored and backed by the Tesla owner Elon Musk.
According to the reports provided by The Huston Chronicle, kiosks will soon be placed in several stores by the currency provider Coin Cloud. Customers will be able to buy their groceries and other goods with the digital currency of their choice. They will also be able to buy new coins for their future shopping and grocery ventures through the kiosks.
Initially, 29 stores in the Huston area will be getting the kiosks as a part of the pilot program reported an H-E-B representative in an interview. In addition to that, the machines that will be installed as kiosks will be the 200th machine that Coin Cloud will be installing.
Bitcoin was initially introduced as an alternative to fiat money which was insured by the government. Now, the dream and the initial goal of digital currency are coming true. This is because more and more countries are working on accepting bitcoin as a method of payment. While other cryptocurrencies are also being accepted, the most common option that is accepted around the world is that of bitcoin. At the moment, bitcoin is the biggest cryptocurrency in the world where 1 bitcoin amounts to $36,120.20 in US dollars. Ethereum costs $2,225.98 US dollars per Ether where it is the second-largest cryptocurrency.
While cryptocurrencies are slowly being accepted in certain parts of the world as regular payments, many companies are still hesitating to make them an acceptable payment currency. This is because of the uncertainty that always follows the crypto markets. Just last month, the cryptocurrency market faced a major downfall as China stopped all crypto-mining companies. These companies were mining cryptocurrencies from its second-largest crypto mining province in the southwest of Sichuan. The uncertain market value of the asset is why it has not yet become a popular method of payment.