Cedar-Lee businesses to accept digital Bitcoin payments

CedarLee18 Apr 2014 / CLEVELAND HEIGHTS, Ohio –- Cedar-Lee will soon become the second “Bitcoin Boulevard” in the world, accepting the the controversial digital payments.

Sweetie Fry, Mitchell’s Fine Chocolates, Shawn Paul Salon, The Tavern Company, Revive, Parnell’s Pub, The BottleHouse and The Katz Club Diner all will begin accepting Bitcoin May 1, according to Cleveland Heights-based Bitcoin consultant Nikhil Chand.

Bitcoin is a digital currency created in 2009 and not regulated by any government. You can use an app on a smartphone to pay with your account, generally kept in a third-party online service called a wallet.

The Wine Spot first started accepting Bitcoin in February, becoming the first business in the Cleveland area to accept the digital currency. The only other Bitcoin Boulevard in the world is in The Netherlands.

“The Wine Spot’s experience generated interest by neighboring businesses, and soon a vision was shared,” Chand said.

He said businesses can save money buy using Bitcoin because the 1 percent processing fee is less than the 2-5 percent charged by many credit card companies.

Chand said the Bitcoin transactions also are safer for customers.

“When you hand someone your credit card, you are giving them all your personal information,” he said. “You don’t do that with Bitcoin.”…. Read more


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