News

In Portugal, Pay for Electricity bills using Bitcoin

A small energy trading company in Portugal has announced they will start accepting Bitcoin as a form of payment for electricity.

Luzboa, a Portugal-based power/electricity distributor, informed a Portuguese news publication that the necessary technological improvements are being taken care of and the payment option will become available by this month.

Their President Pedro Morais Leitão stated, “We know about the volatility of the currency, but we are prepared to assume some risk. There is a new generation interested in cryptocurrencies. We are willing to give them a chance to use new means of payment.”

Serving around 5000 local, corporate and institutional customers, Luzboa stated that the paid Bitcoins will be converted to Euros and an invoice will be generated for the same. These payments will be made via a platform into a special “Luzboa” wallet.

With Bitcoin trending, there has been a growth in transactions with crypto
In an official statement, cryptocurrency is treated as any other currency in Portugal.

Bitcoin and other cryptocurrencies are set to become the new norm. Companies coming up and accepting it help immensely, be it big or small. With more nations accepting and utilizing crypto, it shows immense potential. Will your country be part of this global change too?

Leave a Comment

Your email address will not be published. Required fields are marked *

Close Bitnami banner
Bitnami