ForexMinute.com – Hours after Brazil declared Bitcoin gains taxable, the nation’s renowned online merchandising shop Saville Store has announced it will accept Litecoin as one of their payment modes. It is the second news within 24 hours in which the silver currency has been considered liable enough for being used in making purchases.
Earlier, it was California-based auto dealer Benz and Beamer which sold an expensive Tesla model in exchange of Litecoin.
While what Saville Store sells is not definitely expensive like an automobile, but is rather luxurious and imported. The online shop specializes in selling a diverse selection of imported products, related to fashion and beauty industry. Though, cryptocurrencies are considered to be the money for geeks, but they can influentially look over for the stylish product range at Saville Store, especially when it is available in their second favorite currency Litecoin.
Meanwhile, Litecoin is sure enough to garner enough attention in Brazil for being associated with an online brand like Saville Store. Its gradual introduction to the Brazilian cryptocurrency population comes at a time when Bitcoin has come under the lens of tax authorities, and will soon be taxable. Though the lawmakers are still struggling to understand how they will track the transaction involving this untraceable currency, Bitcoin users may try to focus towards other digital currencies that are still untouched by the government.
But at least for now, Litecoin’s increasing popularity in Brazil is still questionable. There are very few businesses that has accepted this digital currency as one of their mode of payments, while Bitcoin comparably is accepted at a larger scale as compared to its counterpart. With a brand store like Saville Store initiating a new phase for Litecoin, it is likely to attract more merchants.
The store is already accepting Bitcoin payments for a very long time.
To contact the reporter of the story: Yashu Gola at email@example.com