There are many places in Hungary where you can pay with cryptocurrency

In Hungary, you can pay with Bitcoin or other cryptocurrencies at nearly a hundred locations. You can use this means of payment at dog schools, cafés, cabs, apiaries or charities, among others.

You can pay with cryptocurrency at nearly a hundred locations

The development of digital payment systems and the spread of cryptocurrencies is creating more and more opportunities for those interested in the field, writes Portfolio. Cryptocurrency payments are becoming increasingly popular in Hungary, too, for a growing range of products and services. According to Binance, which operates as the world’s largest crypto exchange, in Hungary, you can pay with bitcoin or other cryptocurrencies at nearly a hundred locations.

Where can you use this payment method?

Among other places, there are more and more catering establishments on the list of locations, such as pubs, restaurants and bars around the country. What’s more, an increasing number of hotels and pensions also accept the most popular cryptocurrencies. The list also includes dog associations, beekeepers, flower shops and hairdressers, but it is also becoming widely popular among lawyers. In addition, several hosting providers, server hosting networks, software development companies and online marketing companies also accept bitcoin, the statement said. In addition to for-profit organisations, the SOS Children’s Villages Foundation is also involved in the collection, where Bitcoin and Ethereum can be used to support orphans.

Cryptocurrency brings efficiency

“The adoption of bitcoin and cryptocurrencies in general in Hungary has gained momentum recently,” said Kiril Khomiakov, head of the Central and Eastern Europe region at Binance. He added that the decentralised nature of cryptocurrencies and the fast transaction speed allow businesses to operate more efficiently and reach new markets. They expect further growth in the number of acceptance points in the coming period.” – believes Changpeng Zhao, CEO of Binance.

Changpeng Zhao said earlier this year that he expects the crypto market to recover in 2023. In 2022, big players such as Tesla, McDonald’s, Sony, Nike, KPMG and Mastercard introduced solutions based on blockchain technology. And in Hungary, the number of Bitcoin ATMs is growing, with currently 46 machines in operation.