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S. Korean bakery accepts bitcoin payments

English.news.cn   2013-12-03 16:10:36            

SEOUL, Dec. 3 (Xinhua) -- A South Korean bakery shop started accepting the digital currency bitcoin as an alternative way for payments, making it the first physical store in the country to do so, local media reported Tuesday.

The Paris Baguette bakery shop in Incheon, a city west of Seoul, on Sunday started to allow customers to buy goods with bitcoins.

After selecting their goods, customers can pay bitcoins to the shop owner's smartphone according to the price shown in bitcoin units on a currency conversion application offered by Mt. Gox, the world's largest bitcoin exchange platform.

"We introduced the new payment system expecting the bitcoin- payment system to be more popular," said shop operator Lee Jong- soo, quoted by the Yonhap news agency.

He added that more shops will accept bitcoin payments in the future as more business owners here realize the importance of this digital currency.

Bitcoin, a form of digital e-money stored in a virtual wallet, bypasses banks, allows users to remain anonymous for online and offline purchases. It has been heating up around the world since it was created by Satoshi Nakamoto in 2008.

Data from Mt. Gox shows that the price of bitcoin for the first time ever soared to over 1,000 U.S. dollars per unit last week.

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Value of one bitcoin multiplies 66 times this year in China

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Editor: Mengjie
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