U.S.: Terra Exports now accepting payments in Bitcoin

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U.S.: Terra Exports now accepting payments in Bitcoin

U.S produce distributor Terra Exports accepted its first Bitcoin transaction in early November this year, when a customer in Singapore casually mentioned they were looking into using cryptocurrency at a business level.

“We’re all about entrepreneurial thinking and embracing change, so if that means we need to innovate on how we get paid, we are happy to do it," company president Nils Goldschmidt said.

Since then, Terra Exports has received Bitcoin payment on three other occasions, from customers both in the U.S. and in India.

“Personally I see cryptocurrency as a game-changer that’s here to stay, and what our customers need today. Our role as Terra Exports is to simplify and stream-line our customers’ purchasing needs, so they can in turn focus on what really matters to them. If accepting Bitcoin facilitates this, then we are happy and proud to say we are already making it happen," he said.

The company said offering the ability to be paid in Bitcoin goes hand in hand with its entrepreneurial vision but it’s not something it is pushing onto customers.

When asked about the currency’s stability, Goldschmidt said: “I’m not nervous about a bubble at all, because we’re not holding the coin and speculating (that’s not our business)."

"As soon as we receive payment, we convert it to USD immediately and deposit the funds into our bank account. While we’re all about embracing change and innovation, we’re also quite risk-averse and fiscally conservative."

Bitcoin is described as “a peer-to-peer electronic cash system”, an “electronic coin” that would replace money transfers that are currently controlled by the financial system.



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