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Cryptocurrency payments in Croatia – everything you need to know

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In addition to the usual card or cash payments, the number of companies adopting cryptocurrency payments around the world is higher than ever. If cryptocurrencies confuse you, you’re not the only one. Check out our introductory article.

Bitcoin’s volatility (drastic price change in a short time) is well known to everyone, but this has not discouraged companies and businesses around the world from accepting cryptocurrencies as payment options. Companies that accept Bitcoin or other cryptocurrencies include a multitude of fast food restaurants (Burger King, Popeyes, Pizza Hut and others), technology companies (PayPal, Microsoft) and others such as Coca Cola.

Who in Croatia accepts cryptocurrencies as a payment method?

If you thought no one would accept cryptocurrencies as an official payment method, you were wrong.

Although cryptocurrency payment slots in Croatia is still a relatively new phenomenon, today you can pay with cryptocurrencies at more than a hundred locations. Such payments are made by Electrocoin (with PayCek) and Fima Plus (with FIMA Pay).

With the help of the PayCek system, you will be able to pay with cryptocurrencies in a multitude of hotels, Tifon gas stations, Greyp electric bikes, the largest Croatian webshop In addition, cryptocurrencies are accepted by Alpha Luxe Nekretnine, car dealerships (Grand Auto and Autokuća Vuko), media such as Lider and Poslovni dnevnik and many others.

Through the FIMA Pay system you can buy in individual cafes in Zagreb (Orient Expresss), Varaždin (Elephant, Baseball Bar, Ritz Caffe Bar, student restaurant), Bim sport, in restaurants Stari Hrast in Čakovec and American Bar Dollar in Osijek.

iNovine has become the first newsstand chain in Croatia that allows cryptocurrency payments.

Croatia’s LAQO introduced cryptocurrency payments on its webshop and thus became the first insurance in Croatia to enable such a payment method.

But wait – there’s a catch

One of the largest retail chains is Konzum and it is in it that natural and real people can buy and pay for household goods, groceries and practically all products from Konzum’s offer (over 12,000 items).

Still – there’s a catch. Cryptocurrency payments are currently only available in the online store. Paying with cryptocurrencies with numerous advantages also has a couple of disadvantages. One of them is a non-permanent price that is difficult to predict and the result of this is reflected in unpredictable commissions on every purchase.

In addition to commissions, another reason why cryptocurrency payments are not available in real outlets is the waiting time for transaction processing. It largely depends on the cryptocurrency with which you pay. For example, bitcoin payments could take up to 40 minutes (depending on the payment commission), while currencies like Cardano or Solana can be processed almost instantaneously.

Furthermore, precisely because cryptocurrency payments are so different and largely dependent on the cryptocurrency you have chosen, it is difficult that in the near future there will be a standardization of payments that would allow paying bills on the spot. However, companies such as Croatian Electrocoin could turn this dream into a reality.

Konzum has no direct contact with cryptocurrencies at any time and, when it comes to volatility that is specific to them, customers have no risk because Electrocoin has taken the risk upon itself.

In fact, the exchange rate is fixed at 15 minutes as long as the warranty period for making a payment in Konzum’s online store.

Where to buy cryptocurrencies in Croatia?

Did you know that cryptocurrencies can be purchased at some Croatian Post offices? ? Pretty unusual!

In addition, there are two most popular sites through which you can safely buy cryptocurrencies – Bitcoin Store and Kriptomat. Details of the purchase can be found on their official website.

Both pages work in a similar way. First, register, confirm your account, create a crypto-wallet , and you’re ready to buy.

The current state of cryptocurrencies

It is obvious that blockchain technology as well as cryptocurrencies is something that is slowly integrated into society and existing systems, and is likely to have an increasing level of acceptance over time.

It is interesting that Croatia does not have an established law on cryptocurrencies so far, but that does not mean that trade in them is not regulated. The existing income tax law treats cryptocurrencies as a form of investment.

Consequently, the change of cryptocurrency to fiat money is taxed at a rate of 10% + surtax of the municipality / city where you live. In addition, the state of cryptocurrencies in Croatia is in a somewhat grey zone.

As cryptocurrencies have advantages such as significant privacy and decentralization, but also disadvantages such as volatility and unpredictability, it is worth assessing profitability before investing in cryptocurrencies. Yes, buying two ham clips with 0.0000068 Bitcoin is really cool, but is it worth it? ?