With the Tikebit service in Spain, more than 10,000 stores sell cards to buy cryptoLooks. The system also has two stores authorized in Portugal and another in France. This number of stores has been reached since the creation of Tikebit in 2016.
The project was developed by the Spanish Bit2me Exchange as a way to connect money and cryptoactives without the intermediation of banks. Through this market, customers can exchange their cryptoLook coupons such as bitcoin, ethereum, bitcoin cash, litecoin and dash.
In a comment to CriptoNoticias, the founder of the two projects, Leif Ferreira, confirmed that Tikebit is available in more than 10,000 stores. Although it is unclear whether the milestone achieved in this three-year period or in the last 12 months has been reached, as stated in a press release released on Tuesday, April 23rd.
In fact, already in 2016 he offered a similar number of shops, as we reported then. Similarly, about 11 000 active businesses are mentioned on its website.
The system allows buying coupons from € 20 to € 200 in affiliated stores. On the other hand, in the franchise stores the maximum amount amounts to 1000 euros. A total of 130 of connected stores are below this second digit. The stores that are part of the network receive a commission of 2.5% for each deal, which is paid by Tikebit and not by the buyer, Ferreira said.
Coupons include a 16-digit PIN code that the customer enters into the Bit2me system to replace the cryptobudes he wishes. For this purpose, they have a period of no more than 12 months from the moment of purchase.
Expanding the Latin American market
Similarly, Ferreira said they are planning expansion to reach the Latin American market with their first store at the end of this year or early next. However, he did not specify the country with which this expansion will begin.
Previously, they plan to increase their presence on the European continent. For this purpose, they hope to include stores in Italy and Germany to reach at least five countries in the region.
Ferreira said that amongst her plans for growth is the intention to allow her own business on her network to start accepting payments in bitcoin. This, he says, "will create more traffic for new users in stores."
So far, Tikebit's network has highlighted the Spanish cities of Malaga and Barcelona, which are the top-selling stores, the company's chief executive said.
Cryptosystem in Spain
The growing interest of the Spanish population in cryoptauts and their ecosystems has also given more attention to local authorities. Not only citizens are interested in crypto-active and block-distributed technology.
As recent examples, it highlights Telefónica's interest or some universities in the application of this technology. Also, in 2018 alone, a total of 40 cryptosaires have been installed, exceeding 70 across the country.
In fact, there are other services in Spain, such as Tikebit, which rely on the concept of selling coupons to be redeemable for cryptoLooks. Among them, Bittoin, which last year announced its association with a range of electronic products, has offered Bitcoin coupons payable in euro.
Recently, the Ministry of Finance has begun to officially require Spanish citizens to declare their movements critically via the income tax return for 2019. That is why they are fulfilling the promise to strengthen the rules for crypto-lows this year.
Recommended image by Dmitro Sinelinicko / stock.adobe.com