Japanese Electronics Retail Titan Yamada to Accept Payments in BTC

post image

Now shopaholics will be tempted to buy electronic goods even more as one of the largest user electronics retailer chains in Japan – Yamada Denki – starts accepting bitcoin funds for payment. And even if now the service will be available only its two stores, the company has grand ambitions for allowing its clients all over the world to pay for commodities with cryptos.

Enhancing Bitcoin’s Adoption

As it is mentioned in the company’s official statement, the project was implemented on January 27. To realize such ambition, the Japanese retail titan had to collaborate with the cyber money trading platform bitFlyer, so now the option of paying with BTC will soon be available in two Yamada Denki’s shops.

Our top trading bots

By the way, one of its depots, where people will be able to conduct payment using the crypto-coin, is located in Tokyo, in the special district (ward) of Shinjuku. The decision to establish the bitcoin-payment service there depended on the fact that this area is very appealing for foreign tourists. In the meantime, the second shop with such service is based in the capital’s top business area.

Explaining why it decided to launch bitcoin-payment, Yamada Denki said that the reason was not only in amplifying its services:

"In addition to diversifying [our services], we will implement initiatives to improve bitcoin recognition and usage promotion."

Limits & Plans

Nevertheless, the company is not going to stop only at two stores with available bitcoin-payment service. It has significant ambitions, as recently Yamada Denki announced about its plans to allow the clients to use BTC for remuneration even out of the country.

But now as these intentions have not been realized, the retailer has placed the settlement limit for BTC on one account. And that limit of bitcoins is equal to $2,760 (300,000 Japanese yen). By the way, according to Coinmarketcap.com, BTC is being traded at $10,500 (1.1 million of Japanese yen).

Notably, Yamada Denki is not the first retailer to accept BTC funds as payment. Last year spring Bic Camera, another country’s e-retailer, announced its decision to review a novel point-of-sale system in collaboration with the same exchange – bitFlyer. This option was expected to permit clients to buy commodities using the most known crypto coin in the world. In summer 2017, the company notified that it was spreading such payment service all over Japan.

Also, before the fall, a division store chain Marui checked out BTC remuneration in one of its shops in Tokyo.

No More Mobile Operators & Data Interceptions — Blockchain Phone Presented
The future is happening —PundiX, an international startup, has developed a novel smartphone which facilitates decentralized calls. The device is based on...
Mastercard May Allow BTC Transactions on Credit Cards As It Won a Relevant Patent
“If you can’t beat them, join them,” the known proverb says. Mastercard seems to have mastered this lesson.Within the first half of 2018, the American multinational...
In Malta, a Decentralized Bank Will Appear, Supported By Crypto-Investors
One of the world’s most outstanding cyber-money bourses by trading value, Binance, appears to be among investors of a decentralized bank which is yet to...
IBM To Issue a ‘Green’ Token On Stellar Blockchain, Replenish The Environment
The tech titan IBM is emitting its ever-first token. For that, the multinational company, headquartered in New York, will use public blockchain, provided...
5 Best Cryptocurrencies For Investing, According to Weiss Ratings
Investing in cyber assets has already become what is called a gold mine. People all over the world have got an opportunity to get richer faster and simpler....
Steven Seagal-Endorsed ICO Bitcoiin Sees Restraining Order From US Officials
The precarious ICO Bitcoiin, initially supported by the noted American actor Steven Seagal, has received red light form the US legal system. In particular,...
Coinbase US Clients Can No Longer Add Credit Cards As a Payment Option
Digital assets trading venue Coinbase is making the life of crypto enthusiasts more “interesting.” Not long ago its users were informed about the fact that...
Hedge Fund Manager Invested 90% of His Money In Bitcoin. Here’s Why
While lots of prudent investors argue whether it is better to purchase the whole bitcoin or just its fraction, some bullish bitcoin supporters pile thousands...
Russian Sberbank’s Head Gref Admitted His Employees Mine Cryptos Right at Work
Employees of Russia’s largest lender Sberbank have been continually caught mining cryptocurrencies right at their offices. This has recently been confirmed...
Crypto Regulation is Inevitable, Says IMF Chief Christine Lagarde
The governments’ regulation over the industry of digital assets is inescapable. Such an opinion expressed the head of the International Monetary Fund –...
Hong Kong’s Financial Regulator Vowed to Keep an Eye on Cryptos and ICOs
Hong Kong is believed to be a freer place for crypto enthusiasts. BTCC exchange case alone is enough to prove it. At the end of January, one of the oldest...
NEO jumped by 26%
Cryptocurrency NEO became the ninth currency by market capitalization in the world, ahead of IOTA and approaching Stellar. According to the CoinMarketCap...
Only 20% of Bitcoins Left To Mine: How Difficult Will It Be?
Bitcoin is entering a new era: times of difficult mining and the high possibility of growth in value. That is all due to one issue. There have been mined...
Why Banks Should be Scared of Bitcoin
On December 15, Bitcoin hit a new record as it reached almost $18,000 on the Bitstamp exchange. At the same time, total market capitalization of all Bitcoins...
How Bitcoin Cash Will Stop User Fund Loss
The gap between the Bitcoin and its "offspring" Bitcoin Cash is not just ideological — it is potentially dangerous. Many months of technical quirks resulted...