Ever wanted to pay for your groceries with cryptocurrencies like bitcoin? Well, now you can! We aren’t just talking about some small-scale independent grocer, either, but in fact an IGA supermarket.
Who do we have to thank for such a breakthrough? TravelbyBit, of course!
Or rather, the Brisbane-based startup’s co-founder Caleb Yeoh, a crypto-crazed entrepreneur who’d long snaked the aisles of his local Bowen Hills IGA wishing there were a way he could pay for his groceries with cryptocurrency. Now, he need no longer wish.
Speaking exclusively with Nugget’s News, the TravelbyBit co-founder said he had recently collaborated with the IGA X-press Bowen Hills operator to integrate at each checkout TravelbyBit’s point-of-sale system, which, in addition to bitcoin (BTC), supports payments made with other cryptocurrencies such as ether (ETH), litecoin (LTC), and Binance Coin (BNB).
“Regardless of whether I’m buying eggs, milk, fruit, or vegetables, I now have a way to pay for my groceries with cryptocurrency. The same goes for any other cryptocurrency owners shopping at Bowen Hills IGA.” – Yeoh
Whilst the cryptocurrency point-of-sale integration is a service offered by TravelbyBit, it is secondary to its fast-growing principal business as a crypto-friendly travel booking agency, Yeoh explained.
“TravelbyBit is all about supporting the little guy and supporting the decentralised option,” he emphasised to Nugget’s News. Certainly, this was no cheesy marketing spiel by Yeoh, who voluntarily disclosed the fact TravelbyBit yields zero profit from its point-of-sale integration service. No installation fees. No commission. No exchange rate profit margin. Zilch.
What’s motivating TravelbyBit to continue providing such a service, then? “Education,” Yeoh answered resolutely. “It all comes down to education. Introducing merchants to the world of cryptocurrency so that they may appreciate the benefits in their own time.”
It appears Yeoh’s teachings will soon be leaving their mark on more IGA supermarkets – of which there are over 1,400 nationwide – in the coming weeks. Indeed, he shared with Nugget’s News that he’d been “in contact with two other operators” who expressed interest in adding support for cryptocurrency-based payments.
For now, though, Australians wishing to spend their cryptocurrency can go to IGA X-press Bowen Hills, or indeed any of the other three-hundred merchants that have already integrated with TravelbyBit’s point-of-sale solution.
Locating these merchants is now easier than ever, too, thanks to the also Australia-based Living Room of Satoshi, which recently integrated TravelbyBit’s merchant map into its smartphone app Wallet of Satoshi, an intuitive custodial wallet for Bitcoin’s Lightning Network.
Through user-friendly solutions like this and, for instance, TravelbyBit Stats – a way to check out, in real-time, each cryptocurrency transaction recorded by a TravelbyBit merchant as well as view a graphical representation of 30-day cryptocurrency usage – it’s an exciting time for Australian crypto enthusiasts, to be sure.
🔥Living the crypto life just got so much easier! 🙌@walletofsatoshi has integrated a cryptocurrency merchant map in their app!🗺️🧭— TravelbyBit (@TravelbyBit) July 2, 2019
Discover shops that accept $BTC and enjoy low-fee lightning fast transactions now.⚡️
Download Wallet of Satoshi now: https://t.co/eX0aGWqFNy pic.twitter.com/r9b92snnEw
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