5,200 tobacco stores in France started selling bitcoins again, but this may not be a good thing.

Earlier this year, the Bitcoin exchange voucher program was forced to suspend, and now the French tobacco store has another opportunity to sell bitcoin coupons.

According to local media reports, the plan was restarted on Thursday, allowing 5,200 tobacco stores to sell tickets that can be converted into Bitcoin. This time, Keplerk, which launched the program, no longer sells Ethereum coupons as before.

Bitcoin

Keplerk sells vouchers worth 50 euros ($55), 100 euros ($110) and 250 euros ($175) in stores across the country.

The plan was launched in early 2019, but Keplerk had to stop in February.

The company said the decision was made because some users had a delay in redeeming their cryptocurrency. Keilrk CEO Adil Zkhar said: "Some people took up to 8 hours to receive Bitcoin."

Bitcoin transaction confirmation time has decreased since February, but no one can guarantee that this trend can continue. Therefore, once the transaction confirmation time is extended again, it is not surprising that the service is suspended again.

In addition to confirming the time, bitcoin transaction costs are also prohibitively high. However, it has been reported that the cost of this 250 Euro voucher has dropped from 7% to 5.5%, which is more attractive than before. But this is not a good idea.

It should be noted that each coupon will be charged a 7% commission, which will be transferred to Keplerk.

The program was first announced in November last year and was criticized by the Financial Market Authority (AMF) of the French financial regulator.

AMF, Bank of France and PSRA (French Prudential Regulation and Disposal Authority) issued a statement in this bitcoin plan that the purchase, sale and investment of Bitcoin is currently not regulated.

French regulators also rightly point out that buying digital assets from physical stores makes no sense. Anyone can purchase cryptocurrency from the trading platform. Although the transfer fee may be similar, the user does not have to pay an additional 7% commission, and the user can choose to purchase on a compliant platform.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Indian crypto exchange lifts ban: trading volume soars 6-fold, is it global buy?

Text | Li Zheweng Sources | PANews The Indian exchange Koinex, which failed to survive the cold winter, fell in the h...

Opinion

Why is selling risk the good business model?

The top companies, the market makers, are the ones who sell risk. They are the giants who have stacked up their finan...

Blockchain

The coin was stolen for the first time, and the 7000BTC was missing.

On the morning of May 8, the world-renowned cryptocurrency exchange currency announced that the currency security was...

Blockchain

Metropolitan Museum of Art in New York to return $550,000 FTX donation

According to Decrypt, the Metropolitan Museum of Art in New York has agreed to return hundreds of thousands of dollar...

News

The currency circle "剿匪": the fund is checked, the exchange is full, and the "catch" has just begun.

Text | Pizza Recently, the People’s Daily, Xinhua News Agency, CCTV and other authoritative media have focused...

Market

Is CoinDesk selling at a loss with a valuation of $125 million after being in business for ten years?

On the occasion of its tenth anniversary and after being held by DCG Group for eight years, CoinDesk, the cryptocurre...