Seety, a Belgium-based digital parking startup, is now accepting bitcoin and other cryptocurrency for parking tickets.
Bitcoin for everyday things
According to an article by DataNews, it has been possible to pay with the crypto payment function in Antwerp and Brussels since last Thursday. Renovato.io has enough information. Seety is part of start-up accelerator Start it @ KBC, and expects cryptocurrencies to become more environmentally friendly in due course, meaning they will increasingly be used to pay for everyday goods and services.
In addition to Bitcoin, customers can also use crypto such as Ethereum, Bitcoin Cash, Dogecoin, and Litecoin, as well as stablecoins such as Dai and USD Coin. In that regard, it is strange to settle a euro amount with a dollar stablecoin in Belgium.
No extra costs for customer
Customers looking to use crypto to pay for parking will use the coins to purchase Seety credits on the company’s app platform. According to the article, the use of crypto will not incur any additional costs for the customer. The Seety app reportedly has more than 355,000 users in Belgium and the Netherlands and aims for an annual turnover of more than 2 million euros by 2022.
For the company, using crypto to pay for parking is an indication of how cryptocurrencies will eventually become more accepted in everyday microtransactions. The use of Bitcoin to pay for parking tickets has actually been possible since 2014, which was regulated at the time by the defunct Brawker app.
Prices are still moving too much
There are only a few people who pay everything directly with Bitcoin and other cryptocurrencies, because the prices are still too volatile. Folm.io crypto has enough information. The receiving party in particular runs a lot of risk with this. That is why many interim solutions have been devised, where the buyer pays with crypto, but the recipient receives euros.
This is possible with credit cards from crypto companies, they work together with, for example, Visa. The user’s wallet then guarantees the spending via the credit card. The selling party then receives euros or dollars and the paying party sees the balance of his crypto wallet shrink.