[2018-07-20] Samsung Stores in the Baltic States Now Accept Cryptocurrencies

[ivanpoldark]

On Friday, Samsung stores in the Baltic States have announced they will be accepting seven different cryptocurrencies for merchandise. Through a partnership with the payment processing firm Coppay, customers shopping at the Samsung stores in Tallinn, Riga, Vilnius, and Kaunas will be able to pay with BTC, ETH, DASH, NEM, STEEM, XRP, and LTC.

Samsung Stores in Three Baltic States Accept Cryptocurrencies

The platform Coppay is a European fintech firm that offers payment gateways for cryptocurrency paying customers throughout 31 merchant locations. Now the company has announced that Samsung is truly embracing its slogan to “Turn on Future” by accepting seven different cryptocurrencies. The digital currencies the Samsung stores will be accepting for payments include bitcoin core (BTC), dash (DASH), NEM (XEM), steem (STEEM), ripple (XRP), litecoin (LTC), and ethereum (ETH).

“Customers in Tallinn, Riga, Vilnius, and Kaunas can buy Samsung smartphones, tablets, laptops, TV-sets, and more with digital money,” explains Coppay’s announcement.

There is a growing trend toward business digitalization and allowing customers to pay for goods and services in cryptocurrency, whether at global retailers or local restaurants.      

Read more: https://news.bitcoin.com/samsung-stores-in-the-baltic-states-now-accept-cryptocurrencies/

[1713855926]

1713855926

[1713855926]

1713855926

[Rahar02]

Noted: Cryptocurrencies, in particular, have been extremely popular in the Baltic states and digital assets have broad acceptance in states like Estonia, Latvia, and Lithuania. There is a great variety of merchants that accept bitcoin payments for coffee, apartments, bars, restaurants, hotels, specialty shops, clothing stores, and massage parlors.
and Now Samsung in Baltic states gets into the business, although they cooperate with CopPay to convert crypto into euro, imagine if Samsung will accept bitcoin payment in global scale even though through a partnership with several fintech platforms. But of course, bitcoin need more acceptance and regulation will play the role to set it up.

[felixesteban]

This could be a good start on the way to recognition of cryptocurrencys. Similar companies can take steps in this direction, There will be very positive effects in the long run.

[veleten]

Noted: Cryptocurrencies, in particular, have been extremely popular in the Baltic states and digital assets have broad acceptance in states like Estonia, Latvia, and Lithuania. There is a great variety of merchants that accept bitcoin payments for coffee, apartments, bars, restaurants, hotels, specialty shops, clothing stores, and massage parlors.
and Now Samsung in Baltic states gets into the business, although they cooperate with CopPay to convert crypto into euro, imagine if Samsung will accept bitcoin payment in global scale even though through a partnership with several fintech platforms. But of course, bitcoin need more acceptance and regulation will play the role to set it up.

the thing is that there is a very convenient and legal gateaway to service the exchange and merchants-CopPay
if it wasn't for that,I doubt Samsung would bother
you can argue that Baltic states are more cryptofriendly than Europe in general,Estonia even went as far as to offer e-residency
not exactly only crypto oriented,more focused on regular businesses
but if you look at the total population of the countries,which is dropping every year significantly due to immigration
it is only 6 million or so across three countries

[mazdafunsun]

Noted: Cryptocurrencies, in particular, have been extremely popular in the Baltic states and digital assets have broad acceptance in states like Estonia, Latvia, and Lithuania. There is a great variety of merchants that accept bitcoin payments for coffee, apartments, bars, restaurants, hotels, specialty shops, clothing stores, and massage parlors.
and Now Samsung in Baltic states gets into the business, although they cooperate with CopPay to convert crypto into euro, imagine if Samsung will accept bitcoin payment in global scale even though through a partnership with several fintech platforms. But of course, bitcoin need more acceptance and regulation will play the role to set it up.

I am from Riga,Latvia. And this is a big overstatement regarding the wide acceptence of cryptos. This is very rare adn I would say that not much different then in other EU countries, I have to note that the ICO number could indeed by higher than in other regions.

Regarding the Samsung shops, I was rather suprised that there is even offical Samsung shops. After this article i checked , there are 2 of them in Riga, i will probably check them out and check the possibilty of crypto payments- how they work in reality.

[orions.belt19]

Noted: Cryptocurrencies, in particular, have been extremely popular in the Baltic states and digital assets have broad acceptance in states like Estonia, Latvia, and Lithuania. There is a great variety of merchants that accept bitcoin payments for coffee, apartments, bars, restaurants, hotels, specialty shops, clothing stores, and massage parlors.
and Now Samsung in Baltic states gets into the business, although they cooperate with CopPay to convert crypto into euro, imagine if Samsung will accept bitcoin payment in global scale even though through a partnership with several fintech platforms. But of course, bitcoin need more acceptance and regulation will play the role to set it up.

I am from Riga,Latvia. And this is a big overstatement regarding the wide acceptence of cryptos. This is very rare adn I would say that not much different then in other EU countries, I have to note that the ICO number could indeed by higher than in other regions.

Regarding the Samsung shops, I was rather suprised that there is even offical Samsung shops. After this article i checked , there are 2 of them in Riga, i will probably check them out and check the possibilty of crypto payments- how they work in reality.

If that were the case, may I ask whether there are many crypto users within your area as well? It would be strange if there is wide acceptance if cryptos is not so popular nor widely used. I don't see why other merchants would bother into adding crypto as a payment if people within the area don't use it so much anyway. Although this would add to good promotion for crypto. Also, why would Samsung make the move of accepting crypto as a payment if it's not so popular within the area?

[gentlemand]

Who manages and owns these stores? Presumably not Samsung themselves.

A cool little development all the same. Let's see it integrated into Samsung pay itself for some real arousal.

[mazdafunsun]

If that were the case, may I ask whether there are many crypto users within your area as well? It would be strange if there is wide acceptance if cryptos is not so popular nor widely used. I don't see why other merchants would bother into adding crypto as a payment if people within the area don't use it so much anyway. Although this would add to good promotion for crypto. Also, why would Samsung make the move of accepting crypto as a payment if it's not so popular within the area?

Not realy , there are not many crypto users. I mentioned the ICO number because in my mind this is the only thing that is more developed in Baltics compared to other EU countries. Periodicaly i hear that some company has started to accept cryptos but in the end it seems to be just a merkting trick to get more exposure in media. Some time back Latvian airline " Airbaltic" was in the news for accepting BTC https://www.airbaltic.com/airbaltic-worlds-first-airline-to-accept-bitcoin , recently red that they are not accepting after all.

Hope that Samsung stores will actually do it.

Who manages and owns these stores? Presumably not Samsung themselves.

A cool little development all the same. Let's see it integrated into Samsung pay itself for some real arousal.

It seems that in Latvia, the 2 stores are owned by authorised retailer and the company is only few years old.

[richardsNY]

Bitcoin Core.... Oh right, it's a Ver camp article. I wonder what he will call Ethereum once Bcash will become a token platform somewhere in November. Ethereum Casper? Ethereum Plasma? Ethereum Sharding?

Either way, I am happy to see more and more adoption take place when it comes to brick and mortar stores accepting Bitcoin. It's cool to pay online for stuff, but it's way cooler to use Bitcoin locally as money. The local aspect has been lagging behind and it's time to change. I am ready to use Bitcoin as money locally, and I'm willing to tip generously as well, all to show appreciation and to let them know that there are way more people like me....

[entrepmind23]

Either way, I am happy to see more and more adoption take place when it comes to brick and mortar stores accepting Bitcoin. It's cool to pay online for stuff, but it's way cooler to use Bitcoin locally as money. The local aspect has been lagging behind and it's time to change. I am ready to use Bitcoin as money locally, and I'm willing to tip generously as well, all to show appreciation and to let them know that there are way more people like me....

In our country, there are already some brick and mortar stores that accept cryptocurrencies but not as famous as Samsung, although as what is stated above, only a few are crypto enthusiasts in that country but still seeing how the stores are adopting the cryptocurrency payment option in their locality is already a big thing.

I am hoping that other stores and companies would follow suit. They may still be using a platform to accept those cryptocurrencies but sooner or later when it is widely adopted, they would accept it as is but it may still take years for it to happen. Nevertheless, we are moving forward and that is what's important.

[J_Crypto]

For CopPay, the agreement with Samsung is an opportunity to expand its business at the expense of new customers from the retail segment of the trade. The main goal of the company is to disseminate knowledge about virtual currencies and the advantages associated with their adoption.

[elenora]

Samsung Stores To Accept Cryptocurrencies In The Baltic States

There was an announcement on Friday that the Samsung stores in the Baltic states will accept seven different types
of cryptos for the transaction.

The customers who are shopping from the Samsung stores in Tallinn, Riga, Vilnius, and Kaunas will be able to pay in the
digital currencies which includes: Bitcoin (BTC), dash (DASH), NEM (XEM), steem (STEEM),
ripple (XRP), litecoin (LTC), and ethereum (ETH).

Estonia, Latvia, and Lithuania which are also known as the Baltic States are classified as high-income economies and thus they have
broader acceptance towards the digital currency. Cryptocurrencies, for this reason, have been extremely popular in these states.

To continue reading -- https://cointopper.com/news/samsung-stores-to-accept-cryptocurrencies-in-the-baltic-states

[richardsNY]

Interesting twist: Samsung has not partnered with CoPay.

https://www.cryptoglobe.com/latest/2018/07/samsung-denies-partnership-with-lithuanian-blockchain-start-up-copay/

CoPay doesn't yet want to publicly state anything, which is quite weird since it's actually quite important to not mess up your reputation this early on. It's either that CoPay and Samsung were discussing terms and CoPay assumed that it would go through and for that reason announced the collaboration, or it's a hoax after all. I personally think the first option is more likely but we won't find out, even not when CoPay itself will come up with an explanation.

[mazdafunsun]

Interesting twist: Samsung has not partnered with CoPay.

https://www.cryptoglobe.com/latest/2018/07/samsung-denies-partnership-with-lithuanian-blockchain-start-up-copay/

CoPay doesn't yet want to publicly state anything, which is quite weird since it's actually quite important to not mess up your reputation this early on. It's either that CoPay and Samsung were discussing terms and CoPay assumed that it would go through and for that reason announced the collaboration, or it's a hoax after all. I personally think the first option is more likely but we won't find out, even not when CoPay itself will come up with an explanation.

Came here to  post these News here.  Altough I have my suspicions , i hoped that they will accept cryptos in the end.
Also i agree that they should have had some negations or something beacause otherwise this is too specific to be just an imagination.

[gentlemand]

Interesting twist: Samsung has not partnered with CoPay.

I assumed the stores were operated by some franchise or local distributor in which case it had nothing to do with Samsung in the first place. I've no idea why they'd give a shit anyway. If someone pays in horse manure it's still a sale.

[richardsNY]

I assumed the stores were operated by some franchise or local distributor in which case it had nothing to do with Samsung in the first place. I've no idea why they'd give a shit anyway. If someone pays in horse manure it's still a sale.

Samsung has it's own etiquette that every franchise or reseller of their products has to abide by. It's quite an ugly way of doing business since it limits basically every store, but there is not much they can do other than to follow what Samsung think is good or bad. If you think Samsung is bad, then try to sell Apple stuff, it's insanely difficult and barely profitable. I remember a local Apple reseller here having said that they only make around 5% per sold item due to Apple's firm price policy. It's impossible to even list their items at discount prices, even when it concerns older generation hardware and things like USB cables and chargers, cases, etc.