Tobacco Shops Turn into Cryptocurrency Outlets
In a surprising twist, several tobacco shops in Paris have jumped onto the cryptocurrency bandwagon, allowing customers to buy Bitcoin (BTC) directly for euros. Talk about turning a smoke shop into a crypto hub! As of this week, a total of six of these shops are reportedly selling the world’s leading digital currency, but some sources suggest the actual number may be as high as 24. So, it looks like you can grab your smokes and some crypto all in one go!
A Unique Purchase Process
For those interested in investing a piece of Bitcoin, here’s how it works: tobacco shop patrons can buy Bitcoin for set amounts of 50, 100, or 250 euros. After payment, the customer receives a ticket containing an alphanumeric code and a QR code. This ticket can be used on Keplerk’s website – the wallet provider supporting this initiative – to claim their Bitcoin. Imagine handing over your cash, only to be handed a code that feels like a Hogwarts spell!
Keplerk’s Ambitious Expansion Plans
Adil Zakhar, a co-founder of Keplerk, has big dreams for this venture. The plan is to expand the cryptocurrency offering to a whopping 6,500 tobacco shops across the country by February. Talk about ambition! But let’s hope they’re not counting on magic to make that happen.
Fees, Fees, Fees!
Every financial transaction comes with a cost, right? For those purchasing Bitcoin through these tobacco shops, Keplerk charges a 7 percent fee. Don’t worry, the tobacco shop gets a little cut too, with 1.25 percent going directly to them. This means your investment in Bitcoin comes with a side order of fees—much like adding toppings to a pizza!
Regulatory Hiccups in France
As intriguing as this development is, it comes amidst a swirl of regulatory uncertainty. The French central bank made headlines this week by denying it had given any official approval for cryptocurrency transactions in tobacco shops. On the other hand, the tobacco federation claims to have all the right permissions. It’s enough to make your head spin faster than a roulette wheel! And in case you needed more drama, the French stock market regulator (AMF) has cautioned the public about the risks involved in cryptocurrency investments.
Mixed Signals from the French Government
France’s stance on cryptocurrencies is like a moody teenager. At times, it seems to embrace the innovation, like when it allowed this experimental selling of Bitcoin. But then it slams the door, blacklisting a handful of crypto websites and blocking tax relief amendments for crypto entrepreneurs. Can we get some consistency, please?
The Bottom Line
Even with the contradictory signals from French regulators, tobacco shops are finding a way to mesh traditional retail with the modern digital currency world. Whether you’re a crypto enthusiast or just looking for a new hobby, it looks like Paris might be the place for both smoke breaks and Bitcoin investments!
