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Category Archive: method of payment

5 ridiculous things used as a method of payment

5 items you can sell for your shopping

Some days ago Go Compare website published an interesting article about the weirdest currencies from all over the world.
In this funny list, they quote some incredible items used as a method of payment in several countries, including China, Siberia and more.
Read below the list of the 5 ridiculous things used as a method of payment.

Rai Stones

These particular kinds of stone are huge circular stone disks you can find in the Yap island, Micronesia.
Their value is based not only on its size, but also on its history. If many people died when the stone was moved or a famous person brought it in, the Rai stone value increases thanks to the anecdots related to it.
The greatest part of these stones are too large to move, so transactions are based on oral agreements.
rai_stones_method_of_payment

Mobile phone Minutes

Egypt, Nigeria, Tanzania and Ghana, people began to buy and sell mobile phone minutes for small transactions. This method of payment works this way: you need to trade with prepaid cards or use mobile apps that let users send minutes to other people.
This method started to be used in 2011 and one minute values 1 unit of currency. 

Seashells

In coutries such as Langa Langa Lagoon and Solomon Islands, seashells are used as a method of payment. 
These seashells – that are very rare because of their value – are used to create jewels that can be sold to tourists.
Each string values approximately $90. 

Tea

Tea is very popular in countries such as China and Tibet, where tea bricks are used as a method of payment as well.
Created from tea leaves, tea bricks could be used to buy livestock and pay taxes too. In Siberia and Tibet tea bricks could be eaten or used to cure some disorders such as coughs and colds.

Bottle Caps

In 2005 a beer company in Cameroon started to hide prizes under bottle caps. Competitors companies started to do the same and the result was that almost every cap had a prize on it. 
Prizes include free beers, trips and cars, and winning cap became a method of payments to buy goods and service thanks to them. 

Multicurrency Wallet – open it for free 

holytransaction_wallet_free

Among the alternative payment methods there is Bitcoin, and to store this kind of coins you need a wallet.
To read more about how it works and to open a wallet for free, click here. 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Switzerland to accept Bitcoin for Public Services

Zug to accept Bitcoin

Zug, city ubicated in Switzerland, announced it will accept bitcoin payments for public services. 
This is a pilot project to test the efficiency of the digital currency. This test will start on July 1st and will continue for the whole year.
Zug was probably chosen because it is the Swiss financial centre that has a good reputation for its low taxes. 
This project appeared on the official website of Zug. Here the initiative is described as a way to test the bitcoin use for public obligations that cost 200 francs, or almost 0.44 BTC at the moment. 
An official press release of this Switzerland city comments:
“The pilot project of the city government is initially limited to 200 francs on chargeable services the residents of the city train. The end of 2016 we will conduct an analysis of lessons learned. Then…the city council will decide if bitcoins and most other digital currencies are to be accepted as payment for other urban services in the future.”

Will this idea succeed?

This idea is not so new, as several cities and states have tested this method of payment during the last years, but it didn’t succeed. 
Also, it is important to remember that Switzerland has lots of startups in its country: for example Xapo, ShapeShift and Monetas are located in Zug. 

The city mayor is very upbeat 

The city mayor Dolfi Müller commented in a post:
“We want to express our openness to new technologies and expressed early on your own experiences. And we will invite to exchange ideas with the City Council FinTech companies in the region train. Our goal is to meet their needs for optimal development in our living and economic environment in more detail.”

Multicurrencies Wallet – Open yours for free 

To buy and spend your digital currencies, you may need a new wallet where you can store your bitcoin, for example.
On HolyTransaction wallet you can hold several cryptocurrencies including Ethereum, Litecoin, Blackcoin, etc.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio