A Canton hair salon is now permitting prospects to pay for services and products by utilizing the cryptocurrency Bitcoin.
DryLand Salon in Canton is one of some retail companies in Maryland that permit prospects to pay utilizing the cryptocurrency.
Kate D’Alleva, who co-owns DryLand together with her sister, Lynnae, stated rising curiosity in Bitcoin inspired her and her sister to start accepting it as payment.
“Increased interest in cryptocurrency by everyone, and the increasing cost of credit card processing, makes accepting Bitcoin a logical next step for businesses,” Kate stated in an announcement. “Looming inflation due to U.S. stimulus payments also makes a fixed-quantity currency like Bitcoin, a better place to keep your funds.”
DryLand’s introduction of Bitcoin as a payment choice can even permit the salon to market their upcoming line of curly hair care merchandise to prospects around the globe with out having to fret about forex exchanges, the homeowners stated in a press launch.
An unknown individual or group, working beneath the alias “Satoshi Nakamoto,” created Bitcoin in 2008 and launched it for public use in 2009. Bitcoin has no bodily kind like a greenback invoice or penny, with the cryptocurrency current solely on the web.
People are in a position to purchase and promote cryptocurrency on digital marketplaces known as “exchanges,” the place one Bitcoin is valued at greater than $42,000 as of this text’s publication.
The Bad Decisions bar in Fells Point, which closed in 2017, was the positioning of the area’s first Bitcoin ATM in 2014.
Todd Conner’s restaurant in Fells Point additionally has a Bitcoin ATM, which individuals can use to commerce in Bitcoin for bodily cash to pay for meals.
Offering Bitcoin payment was a pure step to maintain DryLand forward of the technological curve, Kate stated.
“Baltimore is consistently recognized as the best city for women in tech,” she stated. “As a business that caters to a lot of women, it would be silly not to embrace technology whenever we can.”
Some Bitcoin transactions are accompanied by “mining fees,” which DryLand will offset by providing a $3 low cost any time a buyer pays with Bitcoin.
Kate stated that she and Lynnae listened to prospects’ wishes to have the ability to pay with Bitcoin, and determined to implement the payment technique on the salon.
“We were surprised to find that many of our customers had an interest in using Bitcoin to pay for services. As a retailer that relies on a loyal and growing customer base, we are always looking for ways to be on the cutting edge of retail business operations.”
The cryptocurrency can even assist cut back prices for each the salon and its prospects, Kate added.
“Bitcoin will decrease costs for consumers and businesses due to the impact of inflation on the dollar and increasing credit card fees,” she stated. “As more businesses accept Bitcoin payment and more consumers make purchases using Bitcoin, its adoption and value will increase. We are excited to be on the forefront of this.”