Kaeleb Mckay, a CEO of a Glasgow roofing company, recently told the British press that his company had seen rising numbers since customers started paying in crypto. In addition, he said that more of his customers, including retirees, are willing to pay with crypto.
Retirees pay in crypto
Kaeleb Mckay, who runs a roofing company with his father Cameron, also said he was surprised by the people using cryptocurrency with his company’s crypto client base, including retirees.
The 20-year-old Scottish entrepreneur from Wishaw in Lanarkshire has said he has been accepting crypto for a while. Since 2014, he has had a personal interest in trading cryptocurrency, which is ideal for businesses because the payment is instant.
The young businessman said he had carried out a roof repair in November for around £500 for a pensioner in his late 60s in Glasgow, and she said she was willing to pay Bitcoin. Other retirees have also shown a lot of interest. Another person also paid £180 in Ethereum for an urgent roof repair in recent weeks.
ASAP Roofing and Building Ltd started accepting cryptocurrency last year and is now taking several major coins including bitcoin (BTC), ethereal (ETH), bitcoin cash (BCH), dogecoin (DOGE), litecoin (LTC), and XRP, according to its website.
Crypto Adoption Simplifies Payment
Most Scottish companies that accept cryptocurrency payments are large technology companies. However, many small businesses, such as ASAP Roofing, have also decentralized digital money to replace fiat money.
Tech expert Guy Cocker recently said that more and more companies would adapt to the tender.
He added that several people and emerging companies are more than willing to take these types of payments to increase their success. But for many, it ticks a lot of boxes as a payment method.
It’s here to stay
Cryptocurrencies are traded over the internet without a central bank. Instead, it uses decentralized technology that enables secure payments and public transaction data, making it difficult to use them fraudulently.
Cash from retirees, also known as the gray pound, is increasingly being targeted by crypto companies.
At the beginning of the year, the Advertising Standards Authority banned Coinfloor from an ad targeting retirees investing in Bitcoin, calling it “irresponsible.”
Kaeleb added that people should spend some time researching their options, but he had personally made some significant investments in cryptocurrency. Their value can fluctuate wildly, creating huge winners and losers, but they are here to stay.
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