London Taxi Driver Sells Bitcoin in His Cab
Believe it or not, crypto adoption is rising and one better illustration comes from the story of a London-based vendor who sold Bitcoin at the back of his cab.
Dave Jenkins reportedly used a processing device supplied by U.K.-based FastBitcoins. The touchscreen device is able to process cash-based transactions, allowing Jenkins to exchange fiat for BTC, all in real time.
The interesting thing about his business is that the cabbie is able to print a paper receipt for his customers. It works similarly to what you’d expect when you use a credit card to buy coffee at your local coffee shop.
The taxi driver has become a popular figure in the streets of London, who fondly refers to himself as the “first cab driver” to offer such a service in the world.
While Jenkin’s offer isn’t actually involving payments for goods and services using cryptocurrency, the mere fact that a growing number of people are finding it easier to buy bitcoin from him illustrates the potential his endeavor has for further growth.
It could be among the many steps that eventually see the common person on the street begin to use cryptocurrencies to make everyday payments. He said his customers find it easy to use his service due to the challenges many encounter when trying to open accounts on exchanges like Coinbase and Bitstamp.
With FastBitcoins providing him with a point-of-sale device, Jenkin’s work has become a lot more fulfilling, while the firm’s founder Danny Brewster thinks the same can be used in retail stores to aid in further crypto adoption.
Currently, FastBitcoins is in the process of installing its devices in about 20,000 locations across the world. The London cabbie is just one among thousands of bitcoin maximalists and enthusiasts who would do anything to get hold of cryptocurrency and when possible, spend it.
Those seeking to buy bitcoin from Jenkins contact him via his Twitter account; he then proceeds to sell BTC in exchange for the pound, the euro, and the dollar. Buyers can redeem their bitcoins using the receipt Jenkins provides on FastBitcoins’ website.
Jenkins, who works the regular 9-5 shift with his cab, earns a commission on the transactions. They aren’t as huge as what Coinbase or Binance make, but the fun is in seeing people want to buy from him.