In the Baltic states, where there are no proper regulations yet introduced on cryptocurrencies, digital currencies are increasingly gaining popularity. Almost all business-sectors are allowing crypto payments.
In Lithuania, Latvia and Estonia, buying a cup of coffee these days with Bitcoin is nothing special. Local media reports say that cafes, restaurants, bars, hotels souvenir shops and even orthopedic clinics all are now accepting cryptos as forms of payments for goods and services. The Baltic Tigers of the EU are gradually becoming the “Bitcoin Tigers” of Europe.
Novaya Gazeta reports that crypto payments have been introduced in the real estate business by several companies selling parcels of land and housing units in the Baltics. It is expected that soon, potential buyers will have the liberty to use cryptocurrencies to buy land and homes in the Auriai cottage settlement; an area currently under construction in the vicinity of Vilnius, the capital of Lithuania.
You could also find crypto-priced real estate being sold in the surroundings of Latvia and Estonia. Penthouse suites in Jurmala in Latvia are now being put on the market and the asking price is in Bitcoin.
The Estonian realtor LAAM Kinnisvara also announced that it is accepting cryptocurrency for apartments in a town called Maardu, located 15 minutes drive from Tallinn, the country’s capital. Already, one third of the 44 units built by the company have been sold out. The next Bitcoin deal has already been scheduled.
Coinmap reports that more than 30 locations in Vilnus accept crypto payments, in Tallin; you have 26 and 21 in Riga. According to Coinatmradar, you can find Bitcoin ATMs in the capitals of Estonia and Lithuania. The majority of businesses accepting Bitcoin as a form of payment are in the hospitality industry; cafes, bars, restaurants, souvenir shops, hotels. However, other sectors are also following the lead.
The United Colors of Benetton franchisee in Lithuania announced few months ago that they would be accepting cryptocurrencies. The fashion brand is partnering with CopPay, the cryptocurrency payment platform to allow it accept Bitcoin, Ethereum, dash, NEM and other cryptos.