A dessert shop in Venezuela accepts Bitcoin payments despite trust issues

Author: ManjiMasha

According to Bitcoin Daily, a Latin American Bitcoin information magazine, although the development of Bitcoin in Venezuela is still slow, a dessert shop recently announced that it supports Bitcoin payments. It is reported that the manager of this dessert shop, Eduardo Hernandez, learned about Bitcoin through the Internet while working.

He said: “At first you might think the concept of Bitcoin is a little strange, but if you work on the Internet like I did and sit down and study it carefully, you will see the business opportunities.

Why use Bitcoin?

Hermandez accepts Bitcoin because it is a form of currency, has a rapid development, has market value, and simplifies the transaction process. In Venezuela, Bitcoin is another form of transaction. "Bitcoin is not regulated by Venezuelan laws and the government, so it can bypass some legal restrictions."

According to a CNN report published in October, the Venezuelan government has strict management of foreign currencies, including Bitcoin.

Earlier last year, CCN reported that CANTV, Venezuela’s state-owned enterprise and largest Internet service provider, restricted the use of many Bitcoin-related domain names and websites.

Trust issues that remain:

Hernandez acknowledged that people’s distrust of virtual currencies still exists, which is why he has not used virtual currency transactions in two years.

He said he once received a call from someone asking about Bitcoin, but nothing else since.

He expects more young people to accept Bitcoin and he believes that Bitcoin will have a bright future.

Goods that can be purchased with virtual currency in Latin America include medicines, jewelry, clothing, and service-related expenses.

Many restaurants accept Bitcoin payments, including Antonio's Kitchen, a vegan restaurant in Buenos Aires, and Bitcoffe, a coffee shop that accepts Bitcoin.

Venezuelans say they use Bitcoin to simplify payments, transactions, and financial processes, sometimes with discounts of 5% to 20%.

JPM compiled from

Crypto Coins News, Venezuelan Pastry Shop Accepts Bitcoin Despite Public Distrust, by Elliot Maras.