4 Land-Based Retailers in the UK That Accept Crypto
Many businesses and retailers are beginning to accept cryptocurrencies as payment for goods or services. Although it was initially slow, blockchain technology’s excellent security attracts consumers and retailers alike. If you consider for a moment that there are virtually no chargebacks eating into a retailer’s profit, that alone is reason enough to interest them in crypto.
I don’t think credit and debit card fraud is reserved for online transactions. There is, in fact, a great deal of identity theft and stolen cards out there. When charges are contested, the chargeback fees and loss of revenue from those products are enough to eat a significant hole in a retailer’s profit. This alone is leading to greater interest among land-based retailers. Let’s look at a sampling of those merchants now accepting crypto in one form or another.
4 Land-Based Retailers In the UK That Accept Crypto
Shopify Stores
Who doesn’t know Shopify online? Well, some land-based merchants also have Shopify stores on their premises. At this time, Shopify accepts Bitcoin online and in retail establishments. They may also take other cryptos now or later, but Bitcoin is an option.
Whole Foods
What started as a US chain of organic natural foods stores has also grown significantly in the UK. They have stores in London that accept not only the well-known Bitcoin crypto but also Ethereum and other stable cryptocurrencies. One of the things that consumers like about this is that they can access an Ethereum prices index on okx.com to get the relative value of their ETH to the GBP. It’s a fantastic feature, wouldn’t you say? It pays to know precisely what you are spending about your fiat.
Lush Cosmetics
Here is another global company with a massive presence in the UK. Lush was one of the very first global corporations to jump into the crypto pool, and they’ve been swimming in it for more than five years now. They began taking Bitcoin online in 2017 and will accept Bitpay online and in their stores.
Phillip Plein
As of last year, this chain of stores created by the German designer of the same name began accepting cryptocurrency as payment online and in its brick-and-mortar shops around the globe. The stores carry fashions and accessories, and one of the reasons so many consumers prefer to shop in stores is the ability to “try before you buy.” That, coupled with the stores’ acceptance of crypto payment, leads to increased growth in almost all locations.
It is predicted that a few merchants won’t take crypto payments within the next few years. With such heightened security and an equally growing interest among consumers, it is ‘thought’ that crypto might overtake fiat in every country on earth, perhaps with the UK leading the charge.
