The bear market does not affect the adoption of cryptocurrency to make payments in the Croatian supermarket Giant Konzum!

Croatia leads the European Union in terms of cryptocurrency adoption.

The cryptocurrency market crash that occurred in May certainly caused enormous damage to the market. Many countries have seen cryptocurrency adoption decline rapidly, and as a result, cryptocurrency values ​​have further declined. While the bear market has persisted and is wreaking havoc among cryptocurrency players, according to a study, it is interesting to note that the cryptocurrency adoption rate in Croatia actually increases during downturns. According to the study, it was noted that Croatia leads the European Union in terms of the adoption of cryptocurrencies.

The rise of cryptocurrency in Croatia.

Konzum, which appears to be the leading supermarket chain in Croatia, then announced its acceptance of cryptocurrencies as customer payments in 2021. Since then, one of the largest supermarket chains has breached the cryptocurrency market, the adoption rate of cryptocurrencies among Croatians has also started to grow rapidly.
According to the announcement, the supermarket chain began by accepting nine types of cryptocurrencies, including Bitcoin, Ethereum, Ripple, and many others.

Cryptocurrency adoption even during a potential cryptocurrency winter.

Credits: Bitcoinist

Despite the winter of cryptocurrencies, Konzum, Croatia’s largest grocery chain, this year saw an increase in payments made in cryptocurrencies such as Bitcoin (BTC). Kozum also has a vision to make cryptocurrency a revolution for the financial sector of the economy. The supermarket chain is looking to make payments via cryptocurrencies available in all of its stores and has also continued to integrate with Electrocoin. The collaboration with Electrocoin is expected to bring the availability of cryptocurrency payments to all physical branches in Croatia.

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The Konzum spokesperson said that although the cryptocurrency payment option poses a certain degree of risk, there are still widespread doubts about the cryptocurrency transaction in the market with respect to security.

Opinions of the writer:

The growing adoption rate in Croatia, even during a bear market, is definitely news that any cryptocurrency enthusiast would want to read. The point to consider is that while the government hasn’t made much progress in regulating the market, local cryptocurrency advocates are believed to have started self-regulating the market. This has certainly helped Croatian citizens to invest more in cryptocurrencies as there are less strict rules and a less stringent framework governing the market.

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Share your thoughts on cryptocurrency and let me know, what do you think about cryptocurrency adoption despite the bear market in Croatia in the comments section.

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