Frictionless Transaction: UK-based LubeStore’s BTC Success

If you thought Bitcoin acceptance was being spearheaded by the more ‘niche’ sections of the consumer market, you may now think again.

Bitcoin acceptance among merchants is booming, and its potential as a marketing tool is being realized by an ever-increasing number of merchants. And while we’ve recently carried stories about escorts in Las Vegas, Bitcoin is now the domain of less ‘exotic’ (but no less exciting) outfits in its bid to integrate into as many consumer demographics as possible.

Enter UK-based LubeStore, an online sex shop which this week announced on Reddit its intention to allow Bitcoin payments. Its founder, who told me they would prefer to keep their identity a secret in the true spirit of Bitcoin, was impressed by the reaction of Redditors to the news especially.

“We saw an awesome response on the r/Bitcoin subreddit and it seemed like people took a real liking to us,” he said, “We had over 3000 unique visitors to our store in 2 days solely from Reddit and a few people bought some items.  All of whom used Bitcoin of course.”

“A real necessity”

Overnight success stories such as this are a noticeably far cry from the scenario of even just one year ago, when merchant infrastructure for cryptocurrencies was considerably more lackluster. LubeStore, like others, can sense the changes in the client base.

“One thing I love about the Bitcoin community is that there is a large chunk of people who want to kickstart spending and start using their coins,” its founder continued, “so it seemed like a natural decision to open my doors and offer the option to people who may want to use that payment method.”

The comments echo those of several UK Bitcoin adopters such as the commercial director of software marketplace CeX, which trialed BTC-only payments in its Glasgow store earlier this month.

For LubeStore, however, the change could well be permanent with the success of the Reddit post leading to the announcement of a 20% discount scheme for Bitcoin purchases, also released on Reddit. Moreover, the company sees the long-term benefits of digital currency acceptance and propagation more clearly than ever.

“People like that anonymity when buying things online, it's safer and cheaper in most cases and I think a real necessity in the world of today,” its founder said, “I think the future is still bright for Bitcoin.”

Making the leap in reputation from ‘niche-alternative’ to ‘necessary’ is something which digital currency has not yet managed, but with supporters like LubeStore coming out of the woodwork with increasing frequency and optimism, there remains much cause for excitement about it in the retail sector.

(With thanks to the Reddit community for the title of this article).

Follow us on Facebook