Bitcoin Embraced by Mexican Retailer Grupo Elektra for Payments

Mexico’s Grupo Elektra will accept bitcoin as payment for purchases, the latest retailer in Latin America to embrace the cryptocurrency as it grows in popularity.

Elektra, a supermarket and banking chain that belongs to conglomerate Grupo Salinas, is offering a 20% discount on purchases with Bitcoin, according to an online ad shared on Twitter by Mexican billionaire Ricardo Salinas Pliego.

“The rumours are true. Elektra is the first (retail) store in Mexico that allows you to buy with Bitcoin,” Salinas said in a tweet. “I’m very sorry to beat the competition again.”

Purchases will go through BitPay, a US-based bitcoin payment service provider.

A spokesperson for Grupo Salinas had no immediate comment.

Salinas, one of Mexico’s richest people, is the owner of the Banco Azteca banking business, and in June said he was working to get the first bank in Mexico to accept bitcoin.

Bank of Mexico Governor Alejandro Diaz de Leon, like some other central bankers, has warned against Bitcoin as a high-risk investment and poor store of value due to its volatility.

El Salvador made history this year as the first country to adopt bitcoin as legal tender, alongside the US dollar. Low-cost airline Volaris, based in Mexico, followed suit, announcing it would accept bitcoin in El Salvador.

© Thomson Reuters 2021


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Cryptocurrency Prices across Indian exchanges

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

PUBG: New State ‘Winter Carnival’ Crate Offered via Coupon Code, Free Tickets Available for ‘Lord of Blood’ Special Crate

For all the latest Technology News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TechNewsBoy.com is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.