Posted 12 months ago | by Ben Armstrong
Crypto Adoption in Slovenia Rockets Higher – Gocrypto Expands International Presence
According to Gocrypto – more than 1,000 retail businesses in Slovenia are now accepting cryptos as payments for goods and services. Gocrypto is a payments platform that operates in many countries, and allows people to use cryptos like cash for everyday purchases.
While some of the businesses in Slovenia are tech-based, many only have physical locations, and offer services like hairdressing or dentistry. Some larger retailers in the nation have also adopted the platform, such as Tuš supermarkets and Big Bang – which is a major electronics retailer.
As crypto use at major retailers increases, more people are likely to accept cryptos as a payment platform. People use fiat currency because they are able buy the things they need with it, and it looks like crypto is beginning to fill that role in Slovenia.
Gocrypto Makes Retail Crypto Payments Easy
Slovenia is hardly an exception when it comes to crypto adoption for retail payments.
Gocrypto is active in Argentina, Austria, Bulgaria, Colombia, Croatia, Czechia, Hungary, Japan, Portugal, Romania, Slovakia, Slovenia, Switzerland, the U.K., and Venezuela – although in some nations the system is operated by its partner company, Xpay.
Many of the nations that are using cryptos have a history of monetary instability, which may explain in part what people and businesses are open to diversifying how payments are made. For example, Venezuela and Argentina both have big problems with their monetary systems, and runaway inflation.
Of course, cryptos make sense for any economy, even if it has a relatively stable fiat currency. Cryptos offer people direct ownership over their assets, and an easy way to make international payments without jumping through loads of hoops at the bank.
A Great Way to Shop – and Trade Globally
People and merchants in smaller countries tend to do more cross border trade, as smaller markets need access to other nations for a wider variety of goods. The EU has helped to overcome some of these obstacles, but using a common currency is a better fit for long term trade stability (one of the reasons why gold was so popular for so long).
As people realize that cryptos are as convenient as national currencies for making payments, but also much better for international trade and travel, platforms like Gocrypto are likely to see more merchants signing up to accept cryptos.
Like any global currency, major cryptos can be swapped for fiat, as long as the nation allows its citizens and residents to use crypto exchanges. As more stablecoins and other asset-based token hit the market, fiat convertibility may not be as important, as many assets are far more secure than the toilet paper that is being produced by global central banks.
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