I didn't expect that Utrust can go this far. It was a great project and it's good to know that it's continuously pursuing its goals.
However, this kind of cryptocurrency adoption is really an advantage because there are lots of football fans who will also support Bitcoin and other altcoins like Utk and Eth.
Topic: Bitcoin Begins to Be Used in the Football Industry - page 5. (Read 842 times)
Why did they accept this random token(EnergiToken) as payment though? Now it just looks like a sponsor, pretty much like how PornHub accepted Verge(XVG).
EDIT: Nvm. They accepted UTK not ETK. And yes, confirmed it's sponsored.
Source: https://www.coindesk.com/s-l-benfica-is-the-first-major-european-football-club-to-accept-cryptocurrency
EDIT: Nvm. They accepted UTK not ETK. And yes, confirmed it's sponsored.
Source: https://www.coindesk.com/s-l-benfica-is-the-first-major-european-football-club-to-accept-cryptocurrency
Sponsored?? May be!! But does it make the entire story look bad?? I believe no!!
This kind of adoption is actually very helpful to the crypto growth! Even though it doesn't have much worldwide appeal but still it is a great deal to have a major EU football club accepting cryptos.
Majority of the human population lives under the shadow of Banking industry where they believe cryptocurrency is a illegal iteam which is mostly used by criminals. If you don't believe me, just speak to 10 random people, you will understand the reality.
Such kind of deals are actually helpful to clear such confusions out of the minds of common mass! Doesn't really matter what crypto they are accepting, but the mention of cryptocurrency is enough to do good to the market and win back at least some trust of common mass!
Why did they accept this random token(EnergiToken) as payment though? Now it just looks like a sponsor, pretty much like how PornHub accepted Verge(XVG).
EDIT: Nvm. They accepted UTK not ETK. And yes, confirmed it's sponsored.
Source: https://www.coindesk.com/s-l-benfica-is-the-first-major-european-football-club-to-accept-cryptocurrency
EDIT: Nvm. They accepted UTK not ETK. And yes, confirmed it's sponsored.
Source: https://www.coindesk.com/s-l-benfica-is-the-first-major-european-football-club-to-accept-cryptocurrency
It is SL Benfica, a Portuguese soccer giant who has decided to accept payments using bitcoin (BTC) in each transaction. In addition to BTC, fans can buy tickets, t-shirts, and all club accessories using special tokens named Ether (ETH) or UTK. The historic decision was announced by Benfica through the club's official website some time ago.
To help realize this plan, Benfica has partnered with a company called Utrust which later acted as a money changer and was tasked with exchanging crypto money from fans to conventional money instantly. Thus, it is expected that the club can mitigate the potential for price reductions that could occur due to the relatively high volatility of the crypto exchange rate in the spot market.
To help realize this plan, Benfica has partnered with a company called Utrust which later acted as a money changer and was tasked with exchanging crypto money from fans to conventional money instantly. Thus, it is expected that the club can mitigate the potential for price reductions that could occur due to the relatively high volatility of the crypto exchange rate in the spot market.
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