Blockchain Progress News & Updates

BREAKING: Whole Foods (Amazon-Owned) Accepts Crypto! NOW!

There’s no #shortage of possible #catalysts behind the spike in the #bitcoin price is. You can now add Jeff Bezos’ #Amazon to the list. #WholeFoods, which is owned by the e-commerce #behemoth, is now accepting bitcoin as a payment #method. The mind-blowing #development was made possible thanks to a deal between payments startup #Flexa and #Gemini, the latter of which is the crypto exchange launched by Tyler and Cameron #Winklevoss.

Users only need to #download an app dubbed #Spedn and can make everyday purchases using #cryptocurrencies including #bitcoin, #ether, #BitcoinCash, and #GeminiDollar (GUSD). Considering that GUSD is the #stablecoin of the Winklevoss’ Gemini exchange, it’s not surprising that it’s being supported as well. GUSD should will introduce some stability into #crypto #payments given its peg to the U.S. dollar and the volatile nature of the #bitcoin price. As crypto #investors have come to expect, there are no hidden fees or markups, so #consumers will be incentivized to use the #app.

Tyler Winklevoss told Fortune:

“The idea of living on crypto is now a reality. You can now do it. For the consumer, it amounts to being crypto conscious. It’s like being green.”

Everyone knows that Whole #Foods customers are already “being #green” given that the #grocery no longer uses plastic #bags. Wait till shoppers outside of the #crypto #community learn about bitcoin.

AMAZON’S MARKETPLACE COULD BE NEXT

Tyler and Cameron#Winklevoss have been mum about this #secret but now that it’s out of the bag, there’s nothing #stopping wide-scale adoption of #bitcoin.

The Flexa/Gemini/retailer #partnerships are really a reflection of the best of both #worlds. The #technology builds on existing #payments #infrastructure that’s used to accept digital #payments such as Apple Pay, for instance. All the retailers must do is tweak their #scanners to identify payments from the Spedn app. Customers are already #familiar with tap-and-go with their mobile #device, so there’s nothing new for them to do. There are no #additional hoops for the cashier to jump through that might slow down the line. As for the #merchant, they can either accept to take the #payment in crypto or convert it into #fiat money.

For the crypto #ecosystem, the #announcement is what everyone has been waiting for. It means that if #Whole Foods can accept #bitcoin and other #cryptocurrencies, theoretically Amazon’s entire #marketplace can integrate the infrastructure to do the same, seemingly with #Flexa. In the U.S., Amazon Prime customers reportedly dole out an average of $1,300 per year on the #e-commerce #marketplace vs. $700 for non-members.

In addition to Whole Foods, the #initiative #extends to other merchants including #Crate and #Barrel and high-end retailer #Nordstrom. The #Flexi #network is comprised of more than 30,000 stores and finally thrusting #crypto into the spotlight for #micro-purchases such as a cup of #coffee, #pizza, or #electronics.

CRYPTO TWITTER ASKS ‘WHEN LITECOIN’?

#Consumers previously expressed #hesitation about the possibility of buying bitcoin or other cryptocurrencies on #Amazon. But they don’t have to, thanks to #Gemini. #Amazon-backed Whole Foods’ #expansion into bitcoin payments not only thrusts #crypto into the spotlight but also Gemini #exchange. And the #virtuous cycle of #cryptocurrency #mainstream #adoption has officially begun. The bitcoin price is currently hovering at $7,799, up nearly 13%. On Twitter, followers wanted to know “where’s #Litecoin?’

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