Bitcoin is a cryptocurrency. It’s one of the newest forms of money, and it’s fast catching on worldwide. Learn more about what Bitcoin is and how you can use it to buy some sweet London souvenirs!
Can you spend Bitcoin in London?
With Bitcoin being so new, there are still many merchants who don’t accept this form of currency – but there are some that do. A top tip when considering cryptocurrency as a form of payment – you must keep an eye on the Cryptocurrency market prices.
Here are some shops in London where you can spend your Bitcoin:
1) Fifth Dimension Tattoo & Piercing
Admittedly this is a niche offering; however, tattooed fans of crypto can add to their body art and accessorize at the Fifth Dimension Tattoo & Piercing company.
Based in Shoreditch, the studio often hosts guest tattooists and is quickly growing a reputation for high-quality vegan ink tattoos and piercings.
2) Totem Hair
Staying on the topic of appearance, it is now possible to book and pay for a mobile hairdresser in Bitcoin to visit your office in Central London to cut your hair. This is a fast-growing service that is well worth your consideration.
3) Off-White
Luxury fashion brand Off-White started accepting payment with Cryptocurrencies in April of 2022. The coins accepted include Bitcoin, Ethereum, Binance coin, XRP, Tether, and Circle’s USDC. Off-White has partnered with Luna, which will provide the technology to bridge the gap between crypto and fiat currencies. Luna provides a widget that runs live auctions to determine the live price of the cryptocurrency in the target fiat currency, e.g., Stirling. Once the crypto has been converted into fiat, the retailer receives the correct amount.
There are independent arbitrageurs to ensure the process runs smoothly and accurately. This represents another signal that cryptocurrency is set on its course to enter the mainstream.
4) Philipp Plein of Mayfair
The store of the famous designer Philipp Plein accepts Bitcoin. The fashion icon, who is known for his flashy style and bold designs, has agreed to accept cryptocurrency.
Initially, the store will open as a pop-up store with plans to become a permanent fixture offering high-end fashion in the Autumn of 2022. Customers can check prices using QR codes found on the products in-store. It is expected that 5% of sales will be completed using a Cryptocurrency; this matches their experience of online sales.
5) Etsy
It’s not only London stores that you can support by spending your Bitcoin with them. For example, it is possible to find small London-based artists, craftspeople, and independent traders that accept Bitcoin as payment for their products.
6) Amazon
Currently, it’s not possible to pay directly on the Amazon website with Bitcoin. However, you can buy Amazon gift cards using cryptocurrency as payment. Once you have purchased an Amazon gift card. then you can pay any retailer or merchant using Amazon Marketplace; this includes any London-based businesses using the platform.
7) Starbucks
Who doesn’t want a Starbucks to help revive you when touring a city like London? Now it’s possible when using an app like SPEDN or Flexa to buy hot drinks and snacks.
Bitcoin has a bright future, and it is expected that more retailers and businesses will start to adopt cryptocurrencies for payment for goods and services.
