Bitcoin has recently gained attention after businessman Elon Musk decided to invest $1.5billion in the cryptocurrency, which saw its unit price soar. With the cryptocurrency market gaining traction, one brand has decided it will accept the method of payment for its range of products. Whites Beaconsfield, which specialises in cosmetics and teeth-whitening, has now joined a handful of UK companies to accept payment through Bitcoin and other cryptocurrencies.
It has allowed transactions on Blockchain to take place without significant charges, exchange rates or fees.
Overall, it is seen as a global currency, and is expected to take off even further in the future as more people explore alternative payment methods.
Whites Beaconsfield was just one of many companies who found themselves struggling amid the lockdown.
At the start of the pandemic, similar to other businesses, the organisation looked for ways they could sell without direct contact with customers.
The sibling co-founders, Ollie and Toby Brittan, decided they would set up a website in order to sell their stock, alongside their partner Tom Jansons.
The target was one thousand pieces, but within a matter of days, the brothers found their units were sold out in their entirety.
From then on, Whites Beaconsfield experienced a lockdown boom, with revenue at the end of 2020 totalling £3.5million.
A move to accepting Bitcoin and other cryptocurrencies, then, could help the business to further expand.
The organisation hopes cryptocurrency will facilitate plans to grow the business across Europe and America.
The decision by the company may also spur other businesses on to adopt a similar approach when it comes to payment methods.
Dr Ali Hussain, an NHS and private dentist, also offered a glowing recommendation of the brand.
He commented: “I love how the Whites Beaconsfield products all contain natural products and ingredients and ingredients that help brighten people’s smiles as well as strengthen their teeth.
“Peroxide based whitening gels can cause irritation to the gums they can cause sensitivity during the whitening process especially if they’re done incorrectly.
“So, using a non peroxide such as the Whites Beaconsfield formula you eliminate that risk but still get the end result of a brightened smile. So, overall its a gentler way to brighten your smile.
“My personal experience with the new formula has been positive I’m happy with the results that I achieved and I would highly recommend it.”