People will now be able to directly purchase Bitcoin at tobacco shops in France. ‘Tabacs,’ as French call them, are the corner stores of the country. Starting in January 2019, interested users will be able to purchase crypto-coupons on these shops. The information was released a few days ago by Europe1.
French ‘Tabacs’ Sell Crypto-Coupons
Clearly, this year was not good for virtual currencies. Bitcoin and other digital assets lost between 50% and 95%+ of their price. However, things might change in the near future. French tobacco shops will be selling Bitcoin since the beginning of 2019.
The decision was taken by the French Prudential Supervision and Resolution Authority (ACPR). This institution is in charge of monitoring the transactions performed by banks and other insurance companies in the country.
In the beginning, there will be between 3,000 to 4,000 shops with the necessary software to process Bitcoin sales. Users can buy coupons of €50, €100 or €250 euros.
Des bitcoins bientôt vendus dans les bureaux de tabac : "Le buraliste de mon grand-père, ce n'est plus d'actualité" https://t.co/kXumqFhiPu via @europe1 #keplerk #bitcoin #Confédérationdesburalistes #bimedia
— Keplerk (@keplerk_) November 21, 2018
In order to make this possible, Bitmedia will be providing terminals for collection at different tobacco shops. These platforms will allow the sale of ‘dematerialized’ products. Users will be able to turn their coupons into Bitcoins on the KeplerK website.
The Federation tobacconist said on the matter:
“Specifically, people wanting to acquire bitcoins can do it in these tobacco shops. Buyers will receive a ticket that they can turn into bitcoins on the website KeplerK.”
According to Phillipe Coy, President of the Confederation of Tobacco shops, tobacco shops will be modernizing. These shops are open every single day of the week for 13 hours, that includes weekends.
This decision will allow new investors to enter the market in an easy and simple way. No further requirements will be needed.
Bitcoin has been in a bear trend since the beginning of the year. New buyers could help Bitcoin price to start to grow in 2019. This can be a good catalyst for the space to continue its growth path. At the time of writing, Bitcoin has a market capitalization of $77.7 billion dollars and each BTC can be purchased for $4,468 dollars.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.