The European cryptocurrency market has been experiencing a lot of growth lately with the increasing adoption of cryptocurrencies such as blockchain. Numerous companies such as Paytomat and Wirex have taken note and have been working towards making it easier to use Bitcoin (BTC) in day-to-day transactions in Europe.
Wirex, Paytomat and a few others have been working on making it possible for Bitcoin to be used as payment in hundreds of stores and restaurants, especially in Eastern Europe. They have also been facilitating the use of Bitcoin in places that accept payment through Visa in the UK and mainland Europe.
A deal involving a Visa subsidiary fell through the cracks in 2017, leading to the cancellation of cryptocurrency debit cards in Europe. However, Wirex has over the past two weeks been providing physical cards to clients in mainland Europe, thus reviving the hope of the members of the cryptocurrency community. Users can load the cards with Bitcoin and then use them to make online payments or shop at physical stores.
Patomat has a cryptocurrency payment system that uses 11 cryptocurrencies including Bitcoin, Bitcoin Cash (BCH) and Zencash (ZEN). It also happens to be accepted as a means of payment in more than 330 stores and restaurants mainly in Eastern Europe. It has also been working on expanding its presence in Eastern Europe and recently Bitcoin payment support at a soup kitchen in Amsterdam.
According to Yurii Olentir, the CEO of Paytomat, Amsterdam is one of the most welcoming places when it comes to cryptocurrencies which is why his company decided to start there as part of its expansion into Western Europe. He also added that using Bitcoin as a form of payment is convenient because it features a smaller fee compared to regular credit card fees and transactions take place in a matter of seconds. It thus makes sense as a form of payment and the ease of use makes it even more appealing.
Paytomat and Wirex hope to continue expanding their reach as part of their plan to attract a wider market while also encouraging the adoption of Bitcoin as an easy payment option.
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