Can Taiwanese supermarkets also buy coins?
Taiwan has the highest concentration of supermarkets in the world. Paying and shopping at supermarkets in alleyways has become a daily routine for Taiwanese people. Now, while buying lunch at the supermarket, you can also buy cryptocurrency.
Cryptocurrency payment service provider Alchemy Pay announced on July 9 that Taiwanese users can now use New Taiwan dollars to purchase cryptocurrencies at major supermarkets in Taiwan such as 7-Eleven, FamilyMart, OKmart and Laifu.
Alchemy Pay's service breaks the barriers for users without online banking or credit cards to enter the market, and uses supermarket services that Taiwanese are very familiar with, allowing users to purchase cryptocurrencies using New Taiwan dollars more simply and securely, without having to deal with exchanges or exchanges. Supermarkets share personal bank or credit card information.
How to buy cryptocurrencies with cash using Alchemy Pay?
According to Alchemy Pay’s official tutorial, the process of using cash to purchase crypto assets in Taiwan is as follows:
Step 1: Choose Fiat or Cryptocurrency
First, open Alchemy Pay's payment platform and select the New Taiwan Dollar as the legal currency, then select the cryptocurrency you wish to purchase.
The currencies currently available for purchase are quite diverse. In addition to mainstream currencies such as Bitcoin and Ethereum, Binance Token (BNB) and meme currency FLOKI are also available.
Step 2: Choose cash payment
Click on the cash payment option and get the ID number for offline payment. It can be seen that the familiar supermarket payment machine logo has been placed among the current cash payment options.
Step 3: Offline payment
Go to the supermarket and enter the payment ID number you just obtained into ibon (or each payment machine), get the receipt, and pay cash at the counter.
Step Four: Obtain Cryptocurrency
After completing the payment, you will receive a confirmation message on the payment platform and transfer the purchased cryptocurrency to your personal wallet.
Who is Alchemy Pay?
Alchemy Pay was established in Singapore in 2017 and is a payment platform that seamlessly connects cryptocurrencies and traditional fiat currencies. According to the official website, Alchemy Pay has more than 300 payment channels and supports more than 50 legal currencies in 173 countries around the world, with special focus on emerging markets in Southeast Asia, South America and Africa.
After taking office this year, Peng Jinlong, chairman of the Financial Supervisory Commission, announced the four major stages of future cryptocurrency industry supervision. Currently, VASP operators who engage in business without registering in accordance with regulations can be sentenced to fixed-term imprisonment of up to two years and a fine of 5 million yuan, and the industry will be further managed in the future.
Although the Alchemy Pay platform requires users to undergo real-name authentication (KYC), Alchemy Pay has not yet completed registration in Taiwan or passed the Money Laundering Prevention and Control Statement, and is still an overseas operator. It remains to be seen whether the Financial Supervisory Committee will take the next step.
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