Brazilian Supermarket Oasis Supermercados Chain now Accepts Bitcoin Payments

Oasis Supermercados, a supermarket chain set in the Brazilian state of Rio de Janeiro, has started to accept crypto payments recently. You can pay the company with Bitcoin (BTC), Bitcoin Cash (BCH) and Litecoin (LTC).

Starting this week, the supermarket decided to accept the three cryptos as well as payments with fiat currency, debit and credit cards. According to reports from local media outlets, the company will use Coinwise as a payment processor.

In order to avoid volatility, all payments are processed as soon as they are made. The client pays with crypto but the supermarket receives the money in fiat currency, which is sent in real (BRL) to the market in about three days later.

As expected from most of the places that are already accepting cryptocurrencies as payment, the owners of the supermarket chain are Bitcoin enthusiasts. The owner Douglas Andrade and his brother, the co-manager Thiago Andrade, picked up the idea from a video they had found online and took it to a crypto brokerage firm to see if it was a feasible idea.

The brothers were already Bitcoin investors, having learned how to invest from a former employee some time ago, and they both think that using crypto is very much like using a simple credit card.

According to them, the payment process is actually very simple. People only need to tell which crypto they want to use, they use a QR code and then it’s done.

The annual revenue of the supermarket chain is about $25 million BRL (around $6.45 million USD) and they operate two stores with 90 workers in total, which have been prepared to deal with crypto payments.

More and More Businesses Now Accept Cryptos In Brazil

While cryptocurrencies are not as prominent in Brazil as they are in some other countries like the United States, Japan or South Korea, some establishments are already starting to offer a growing number of services and letting the clients pay using Bitcoin.

A bike shop called Las Magrelas was a pioneer in crypto payments and it accepts payments in cryptos since 2013, way before Bitcoin was popular.

There are many others, though. For instance, Viação Garcia, a Brazilian road transport company, has also started to accept payments in the same three cryptos as Oasis Supermercados. Initially, only Bitcoin was accepted there, but the company decided to expand the offering to other similar tokens.

Other places that now accept crypto payments include Metrô Brasília, the subway system of the country’s capital and Tecnisa, a major construction company that gives the clients a discount of 5% if they make their payments using BTC.

Nobile Plaza Hotel, the ecommerce site and Imperius Food are also companies that are currently accepting payments.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Gabriel Machado
Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Kraken Exchange Onboards Swiss Bank InCore to Help Euro Clients Buy Crypto With Fiat

Swiss Bank InCore has just become the first banking institution in the nation to provide banking services to Kraken crypto exchange. The deal, which was...

Bank Of Japan (BoJ) Launches ‘Technical' Study to Experimenting CBDCs

The race to launch a sovereign digital currency is heating up as Japan became the latest country to venture into a central bank digital...

This Top Coin, Being the Worst Performer of 2020, Is A Disappointment to the Crypto Market

The fourth-largest cryptocurrency by market cap is currently trading at $0.176 in green by 1.66%, like the majority of the market. With 8.61% losses In...

Cryptocurrency Payment Processor BitPay Finally Announces Support for SegWit

Bitpay, the crypto payment processing giant, has finally integrated the segregated witness (SegWit) protocol, a second layer scalable solution to make bitcoin processing cheaper....

Crypto Hardware Wallet Ledger: ‘Funds are Safe' After ‘BigSpender' Vulnerability Found

A vulnerability was recently discovered by ZenGo in popular cryptocurrency wallets Ledger, Edge, and BRD. Named BigSpender, the vulnerability could lead to a double-spend...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today