[2018-04-23] Bitcoin Payments Are on the Rise in the Baltics

[ivanpoldark]

Cryptocurrencies are gaining popularity in the Baltic states where no comprehensive regulations have been introduced yet. Businesses from multiple sectors, including real estate, online trade, the hospitality industry, and even healthcare, are taking advantage of crypto payments. Some companies from the region are already offering their services globally.   

Apartments Sold for Bitcoin

Cryptocurrencies are becoming more widely accepted in Lithuania, Latvia and Estonia, where buying a cup of coffee with bitcoin is nothing special these days. Cafes, bars, restaurants, hotels, souvenir shops, and even an orthopedic clinic, are now accepting cryptos, according to local media. It seems that the Baltic Tigers of the EU are becoming the “Bitcoin Tigers” of Europe.

Crypto payments have been introduced in the real estate business by several companies selling land plots and housing units in the Baltics, Novaya Gazeta reports. Potential buyers will soon be able to purchase land and homes in the Auriai cottage settlement, which is currently under construction not far from Vilnius, the capital of Lithuania.

Crypto-priced real estate is also sold in neighboring Latvia and Estonia. The Latvian branch of Baltic Sotheby’s International Realty is offering penthouse apartments in Jūrmala for bitcoin. Recently, the Estonian realtor LAAM Kinnisvara announced it is accepting cryptocurrency for apartments in the town of Maardu, 15 minutes car drive from Tallinn. A third of the 44 units built by the company there have been sold already. The next bitcoin deal is scheduled to take place next week.

Read more: https://news.bitcoin.com/bitcoin-payments-are-on-the-rise-in-the-baltics/

[Kemarit]

I'm not surprised by the news as Estonia is one hell of a crypto friendly nation you can find.  They might not be as rich as West Europe but with the rate on how they adopted crypto in general, I wouldn't be surprised if one day they will become of the top crypto hub center in the world. I'm comparing Estonia to Singapore, if you are not aware, Singapore is one of Asia's IT hub and it all started in early to mid 2000's when it economy suddenly bloom because of widely accepting IT technologies. So the mix of interest among its young population coupled will a lot of ICO projects, maybe in just 5 years those Baltic states will become the Bitcoin Tigers of Europe.

[davis196]

I would be happier if the crypto payments were widely accepted in Sweden,Finland and Norway.The baltic countries are just too small and too poor,so they  can`t influence the entire EU to accept more cryptocurrency payment gateways for buying&selling products and services.Estonia is a country that is very open to tech innovations and I`m not suprised that they are using cryptos on a daily basis.

[1Referee]

I'm not surprised by the news as Estonia is one hell of a crypto friendly nation you can find.  They might not be as rich as West Europe but with the rate on how they adopted crypto in general, I wouldn't be surprised if one day they will become of the top crypto hub center in the world. I'm comparing Estonia to Singapore, if you are not aware, Singapore is one of Asia's IT hub and it all started in early to mid 2000's when it economy suddenly bloom because of widely accepting IT technologies. So the mix of interest among its young population coupled will a lot of ICO projects, maybe in just 5 years those Baltic states will become the Bitcoin Tigers of Europe.

Estonia is very smart in that regard, yes. Another thing Estonia is doing right, is allowing all people in the world to become an Estonian e-resident, which is all based on blockchain technology. It's insane and very promising at the same time how one little country is wiping the floor with larger nations in terms of technology and an open minded vision. Imagine a time where the only thing that's fiat related, are the prices we end up seeing in stores or when you buy real estate and whatnot, where you settle the transaction in Bitcoin. The longer we keep that up, the more normal Bitcoin becomes as payment instrument.

2025

Customer; Hello, Can I have one latte please?

Cafe employee; Sure, that's 0.00003BTC

Customer; But I have only Euros.......

Cafe employee; We have a BTM where you can exchange your Euros for Bitcoins.

[Granxis]

The Baltic countries have been making very eager innovations in technology and internet in recent years. Eastern european countries had to work on crypto moneys, as a result Bitcoin and other crypto moneys will be effective in europe.