Brazil-Based Chain Store Now Accepting Payment for Goods Using Cryptos

Oásis Supermercados, a supermarket chain store in Rio de Janeiro, Brazil has made it known that it now accepts payment in the form of bitcoin cash (BCH), Litecoin(LTC), and bitcoin core (BTC). By doing this, it has joined the growing list of businesses in Brazil which now receives payments in the form of digital currency.

Oasis Supermercados Start to Accept Cryptos
Oasis Supermercados has announced that, since 18th of December 2018, its customers can now make payment for products using Bitcoin Cash, Litecoin, and Bitcoin. Once a customer selects which crypto to pay through, the system receives the digital coins and converts them to its equivalent in FIAT using a crypto payments processor called Coinwise. After three days, the payment processor will send Brazilian reals to the supermarket.

In Brazil, the acceptance of cryptocurrencies as payment for services rendered is now becoming a norm. However, this move by the supermarket a very important one.

A co-manager of the store, Douglas Andrade disclosed that Thiago, who is also his brother and co-manager developed the notion of accepting virtual currency at the supermarket after seeing a video on the subject and taking a further step of consulting a cryptocurrency brokage firm for more enlightenment.

He explained further that cryptocurrency purchase is similar to paying using credit cards, in a statement which reads:

“The client says which cryptocurrency he wants to pay, the operator types in reals and the system immediately converts to that crypto. Then just get the QR code and you’re done,”.

Training of Employees
The supermarket chain which consists of 2 stores with 90 employees out of which 20 are cash operators has a yearly turnover of up to $6.45 million (25 million reals). All the workers have received lessons on how to manage cryptocurrency purchases.

So far, no virtual currency payment have been completed since the payment method got launched, the public has however shown significant interest.


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Author: Joshua Tayo
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Brazilian Bitcoin Exchange Wins Standoff as Bank Reopens Account to Avoid Fines

Bitcoin Max, a Brazilian cryptocurrency exchange, has recently seen two banks in the country, Santander and Banco do Brasil, reopen its accounts following preliminary decisions made by Brazil’s Federal District Court. They reportedly reopened the exchange’s accounts to avoid paying fines.

Banks Reopen Crypto Exchange Accounts

According to local news outlet Portal do Bitcoin, failing to comply would have cost Santander up to $1,350 and Banco do Brasil up to $5,400. Speaking to the outlet, Bitcoin Max’s attorney Leonardo Ranna reportedly revealed its bank accounts “have been restored,” along with those of its partners.

The ordeal may not yet be over, as the case against Banco Santander saw it comply because of a “kind of injunction” that determined the financial institution had to reopen the exchange’s accounts within five days. The injunction had previously been denied by a judge, Portal do Bitcoin reports, which saw Bitcoin Max’s lawyers appeal to a Federal District Court Judge.

The new decision came as the judge, Ana Catarino, considered the banks’ lack of communication about shuttering the exchange’s account to be “abusive conduct,” prohibited by the country’s consumer protection laws.

Banco do Brasil reportedly even held $32,300 of the exchange’s funds in limbo. A lawsuit against it was filed on Sept. 12. Initially, an injunction was denied, but judge Fátima Rafael, from the Federal District Court, later gave the financial institution a 24-hour period to reopen Bitcoin Max’s accounts or face a fine of about $540 per day.

Per Portal do Bitcoin, the exchange’s CEO, Adriano Zanella, claimed the banks didn’t even reveal they were going to shut down its accounts. The report reads:

“Adriano Zanella, CEO of Bitcoin Max, said that in both situations there was no formal communication from the banks on the closure of accounts. In the case of Banco do Brasil, Zanella states that he learned of the blockage through the manager of his agency at which point he would ‘carry out an electronic transfer through the bank.’”

This is notably not the first time a cryptocurrency exchange in the country sees the judicial system side with it against a financial institution. In August, Brazilian exchange Waltime won a court battle against Caixa Econômica Federal, a bank that had frozen its accounts with over $200,000 in them.

Cryptocurrency Exchanges in Brazil See Scrutiny

As CCN has reported, cryptocurrency exchanges in Brazil have been under scrutiny. Back in August, the government sent them a 14-point questionnaire to learn more about their businesses, and earlier this month the country’s antitrust watchdog, CADE, sent them another questionnaire they have to answer or face a fine that could reach $25,000.

Notably, these developments came at a time in which XP Investimentos, Brazil’s biggest investment firm, is launching its XDEX cryptocurrency exchange. However, the country’s biggest bitcoin exchange, Mercado Bitcoin, recently fired “at least” 20 employees.

Investment funds in the country have also been given the green light to invest in cryptocurrencies like bitcoin, although only indirectly. This means they can’t buy bitcoin themselves but can acquire derivatives and foreign funds.


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Author: Francisco Memoria
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Presidential candidate of Brazil promises to make Bitcoin (BTC) a legal currency in Brazil

Joao Amoedo, the presidential candidate of Brazil, has expressed a strong desire to make Bitcoin a legal currency in Brazil. Joao Amoedo also believes that cryptocurrencies such as Bitcoin ( BTC ) has the potential to become a viable payment method in Brazil, as long as they are properly supervised.

LIONBIT
But according to Joao Amoedo, Bitcoin and other cryptocurrencies should be treated like foreign fiat currencies such as US Dollar. According to Joao:

“It must be made clear that the country [Brazil] has only one national currency, the currency which is legal tender, that is to say, the currency which the persons are obliged to accept as the real currency (…) Also, there are restrictions on the use of the US Dollar for payments and as an account currency, which should be the same for any other foreign currency, including cryptocurrency.”

Currently, there is a huge debate in Brazil regarding whether Bitcoin and other currencies are a proper legal tender. Back in 2015, banks in Brazil closed bank accounts of many cryptocurrency exchanges but later reopened it.

TIP

The Brazil parliament currently is in favour of distributed ledger technology but is currently unsure about cryptocurrencies and where they fit.


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Author: Ishan
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At Least 30% of All Brazilians Are Interested in Crypto Investments.

Cryptos continue to make their way into the world of finance becoming more and more popular. Not only are they a mechanism used by anarchists and tech savvy people, but they are now increasingly used as financial tools by ordinary users.



This is extremely important for the consolidation of cryptocurrency as a revolutionary alternative to the traditional financial system, given that its advantages are becoming increasingly evident to the general public.

Not Only Brazilians are Informed About Cryptos, They Are Also Interested in Owning Cryptocurrencies
A study conducted by the cybersecurity company Avast and sent to the Bitcoin oriented brasilian website Portal Do Bitcoin, revealed that about 30% of Brazilians are interested or plan to invest in cryptocurrencies in the near future.

The survey was carried out on a total of 1900 individuals during the month of April, and although the study was carried out in compliance with certain statistical standards, despite having randomly chosen subjects from different social strata, 84.36% admitted to being familiar with cryptocurrencies.

This is another extremely relevant fact, since it allows the conclusion to be drawn that in a country as heterogeneous as Brazil, catalogued as one of the world’s leading emerging economies, the fact that almost 90% of its population has some knowledge about cryptocurrencies could facilitate a massive adoption in the near future.

Brazilians prefer to view their websites with ads rather than “lending” their processing power to cryptomining. 44% of respondents agreed to websites using their computers to mine in exchange for an ads-free experience.

In relation to scandals related to illegal or nonconsensual miners (such as the famous malwares and extensions used to mine Monero XMR), 86.6% of those surveyed expressed concern about being infected. The rest do not give it much importance; however, of this 13.4% almost half think it would not affect them because they do not own any cryptocurrency.

The Brazilian market is of special importance for the regional development of South America. Brazil handles much of the Gross Domestic Product in the region.

Despite not having special support from financial institutions, a large part of the crypto and blockchain related projects consider Brazil to be an important market niche to expand their operations on a global scale.


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Author: Jose Antonio Lanz
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CriptoHub, The Future of Cryptocurrency in Brazil

Join in the fun and play on the world’s First Hybrid on-line Casino with BTC and Fiat currency payments. Check on-line for latest promotions

Succession of the Brazilian Cryptocurrency Market

One thing’s for sure; Brazilians are buying crypto. Currently, 1.5 million people of Brazil are investing in various cryptocurrencies – even surpassing the number of Brazilians investing in the Brazilian stock market.

Folks from all walks of life have expressed interest in investing their life savings in cryptocurrencies. Most cryptocurrency investors in Brazil fall under the 30-40 age bracket.

They are empowered to invest in cryptocurrencies which are deemed more trustworthy than government institutions. Three major cryptocurrency exchanges in Brazil handle over 90% of the country’s Bitcoin transactions, with approximately 500 Bitcoins (a worth of over 4 million USD) being traded on the Brazilian exchange every day. However, these dominant exchanges have begun to experience serious problems and drawbacks, and the standard of service has degraded over the past year.

The Ultimate Solution to all Crypto Problems in Brazil

Brazil’s largest cryptocurrency exchange forum, Foxbit, had more than a million users before it was forced to shut down operations in early 2018. Foxbit, having already lost 30 Bitcoins (equivalent to $270,000) due to a bug in the system, could not handle the mass traffic due to Bitcoin’s surge in worth. All these occurrences indicated that although millions of Brazilians are willing to invest in cryptocurrency, the currently dominating exchanges cannot provide reliable, high quality services to allow them to do so. Brazilian crypto-users were having trouble with new registrations, delays in deposit approval, limited diversity of crypto-coins, and unreasonably high rates.

With the increasing demands of the users, the increase in investors, and the growth of cryptocurrency, it is apparent that the existing exchange platforms cannot provide the latest functionalities for streamlined cryptocurrency management. In light of these happenings, Ramon Vailatti introduced the visionary cryptocurrency exchange platform CriptoHub. Vailatti’s vision is for CriptoHub to become the #1 platform for holding, handling, trading, and using cryptocurrency in Brazil. CriptoHub is all set to resolve the issues currently faced by Brazilian cryptocurrency investors and compensate for the drawbacks that exist in the previous cryptocurrency exchange platforms.

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Why Invest with CriptoHub?

At this time, Brazil trades over 10 billion BRL (the equivalent of 3 billion USD) each month in Bitcoins. Other cryptocurrencies are also rapidly gaining popularity in the country with the fast-paced growth of the market. A great part of Brazil’s 200 million population is unbanked, and uninvolved in cryptocurrency. There is a plethora of opportunity for business; all that was needed was an exchange platform that can facilitate existing and potential investors and users of cryptocurrency to enjoy safe, convenient and advanced crypto handling. CriptoHub is the cryptocurrency exchange platform that Brazil has been waiting for.

It is estimated that within one year of its operations, CriptoHub will dominate up to 40% of Brazil’s local cryptocurrency market share. The company is amenable to all Brazilian laws and tax regulations and will be audited twice yearly by an external auditing agency. All steps are being taken to ensure that by the end of its ICO, CriptoHub is a 100% proof-tested, 100% secure and fully reliable cryptocurrency Exchange unlike any financial exchange that Brazil has ever had before.

CriptoHub offers users greater numbers of trading pairs for diversification in their investments. CriptoHub exchange guarantees to provide Brazilian crypto-users unparalleled support and scalability for the first time. The platform’s mission is to be the country’s leading cryptocurrency exchange forum which introduces the lowest crypto exchange rate to Brazil, eradicating the need for any other local or international exchange.

The CriptoHub Coin and ICO

The CriptoHub coins are known as CHBR tokens, and they are based on the ERC20 Ethereum technology. CHBR token holders will enjoy access to exclusive discounts of up 90% on trades made using the tokens.

The CHBR tokens have been made available for sale now throughout the Initial Coin Offering (ICO). During the sale, the tokens cost 0.0005 ETH each, with a hard cap of 10 million BRL (approx. 3 million USD). The main sale has begun with a range of discounts being offered to the investors. Any remaining tokens will be disintegrated.

A month after the ICO has concluded, the CriptoHub company will begin to sell its own CHBR tokens on the exchange at more expensive rates. During the ongoing sale, the company’s referral program is even offering users 20% over the fees paid by their referred friends in the past.

Once the Exchange is up and running, all account holders will be offered cryptocurrency debit cards, with CriptoHub’s pre-paid credit cards soon to follow. Using the cards, account holders will be able to spend cryptocurrency for commercial and retail purposes just like any normal fiat. Businesses across Brazil will be invited to accept cryptocurrency payments in exchange for their services and goods through CriptoHub’s exclusive e-Commerce Plugin.

CriptoHub is the ideal exchange for people living in Brazil who are fed up of using unreliable local exchanges and difficult to use, expensive international exchanges. There’s nothing like being able to use the premium services of a national company for overseeing your trade in cryptocurrency, the most promising investment venture in the world.

CriptoHub is all set to dominate the expansive Brazilian cryptocurrency market which is only going to grow exponentially over the coming years. Now is the ideal time to get your foot on the first rung and invest in CriptoHub tokens, which have the potential to rule the country’s financial exchange.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author CriptoHub Team
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