Do You Want a Bitcoin? Go to a French Tobacco Store

Do You Want a Bitcoin? Go to a French Tobacco Store

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Is the regulation ready for a mass-escalation of Bitcoin? You might not think so, but cryptocurrencies are moving faster and faster, no matter how slow the political sphere is. Now, Tobacco shops are selling Bitcoin for cash following a Keplerk initiative.

France based fintech and wallet provider group Keplerk launched a project in around 24 tobacco stores around Paris where customers can buy Bitcoins with fiat traditional currencies in a value of 50, 100 or 250 euros.

The customers get a ticket with QR and alphanumeric codes that can be used to obtain the cryptocurrency in the Keplerk website. The company charges a 7% fee on each payment, including a 1.25% that goes to the tobacco shop.

The project expects to enrol 6,500 “tabac” stores by February. “Some people find it complicated to get bitcoins online,” Adil Zakhar, Keplerk’s co-founders, said. “They trust their local tobacco shop owner more than they would trust some remote anonymous website.”

So, Keplerk is taking advantage of that and from the environment of the crisis among tobacco shops in France.

Following a multi-year crisis with falling sales and increasing competency, Tobacco owners decided to diversify their business to other industries such as cell phones, money transfers and even candies and lottery.

Well, now Keplerk is giving them a new possibility of merchandising. “Tobacco shop owners are the best channel as they are trusted by customers and they are used to sell vouchers such as credit for mobile phones,” Zakhar said.

The company has been working on the project for around two years.

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