110 French shops will accept cryptos tomorrow

In Paris, in the 15th arrondissement, the shopping malls of the Beaugrenelle shopping center will experience a major change tomorrow. Bitcoin, ether, and 19 other cryptocurrencies are invited in the means of payment for the 110 shops present on site. A great first in France, which did not have shopping centers open to digital currencies.

The period is delicate, with the gloomy weather on cryptos for several weeks, but innovation does not wait. And for a shopping centre, such a novelty can have its strategic announcement effect. Especially since in order to be able to accept this new means of payment, the Beaugrenelle center has gone through a not so complicated solution.

How do crypto payments work at the Beaugrenelle center?

To achieve acceptance of cryptocurrencies in its various shops, the Beaugrenelle center has teamed up with the French startup Lyzi, which specializes in payments in bitcoin, ethers, and others. And to make it even simpler, payments are only accepted by purchasing a gift card from the mall, thus using store credits.

It is therefore not possible to pay directly with a crypto payment card in the shops of the center (Nike, H&M, Fnac and others), but through the Lyzi payment system set up for card purchases. present. With the French startup, Beaugrenelle recovers the advantage of a cashback plan (part of the payment amount is yours), of the order of 5 to 10% for customers who choose to go through this means of payment. This should interest more than one.

Make no mistake about it though, even with Lyzi, a conversion of your cryptocurrencies to euros is always practiced to make a payment. In other words, with each purchase, you will take part of your funds from decentralized finance to a fiat currency, which will have repercussions on your taxes in the event of capital gains.

Crypto payment cards

Elsewhere, it is quite possible to pay “in cryptocurrencies” thanks to special cards, marketed by trading platforms such as Binance, Bitpanda, Coinbase or Crypto.com. In a short time, all the companies got involved, including the French Ledger. The cards are issued to them by Visa.

As with Lyzi, the solution does not allow you to pay a merchant in bitcoin but to do the conversion automatically at the time of payment. Most of the time, users of crypto cards are mainly motivated by the advantages they find in terms of cashback and promotion. At Binance, for example, depending on the number of cryptocurrency tokens you own, your cashback will vary from 1 to 8%.

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