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Bitcoin Cash to Be Accepted by Thousands of Physical Shops in South Korea

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Tue, 08/13/2019 - 14:47
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Alex Dovbnya
More and more merchants are embracing BCH, but does it matter?    
Bitcoin Cash to Be Accepted by Thousands of Physical Shops in South Korea
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As of recently, the merchant acceptance of Bitcoin Cash has been steadily growing around the globe. According to Roger Ver, South Korea will become the latest hotbed for the controversial Bitcoin fork with ‘thousands’ of physical stores around the country accepting BCH.

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Is BCH on the verge of mass adoption?

South Korea has been keen on Bitcoin Cash for a long time. During an interview that dates back to 2018, Ver claimed that there was a lot of excitement about BCH in the Korean market. During the peak of the cryptocurrency market in December 2017, BCH would record incredibly high trading volumes on local exchanges due to FOMO.   

The retail adoption of Bitcoin Cash has also substantially increased in North Queensland (Australia) and Japan, but the two regions still lag behind Slovenia where the fourth-biggest coin already boasts more than 343 locations.

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A sobering criticism 

Still, some Twitter users took the recent expansion news with a grain of salt, claiming that BCH will never the US dollar as an exchange of value. The more scalable Bitcoin would have a hard competing with fiat currencies (or even with the crypto king).     

  As reported by U.Today, Bitcoin is now accepted by major US merchants, such as Whole Foods and Starbucks.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.