Isle of Man News - POSTED Fri 07-10-2016

Manx business scores Bitcoin first

by MR

Chips Cheese Gravy Media has become the first media and PR consultancy on the Isle of Man to accept Bitcoin payments.

The Douglas-based company now accepts the crypto-currency when clients make bookings via its website

From today, customers can select Bitcoin when offered payment alternatives at the online checkout.

Bitcoin is a digital currency that uses encryption to verify transactions independently of banks.

The Isle of Man government is currently investigating ways of regulating the virtual cash system to allow Manx license-holders to use Bitcoin in their operations.

CCG Media founder, Jason Roberts, said: “It’s a fantastic leap forward to be able to accept Bitcoin, especially given government’s enthusiasm to make the Isle of Man ‘Bitcoin Island’.
“It took some work to set up, but brings a number of advantages: clients can make instant transfers rather than waiting for banks or other institutions to process payments, and there’s no need to worry about foreign exchange rates if people want to pay in currencies other than sterling.
“It also allows us to offer an extra service to clients when setting up ecommerce websites –
presently most people opt for PayPal or other payment processing system, but Bitcoin allows instant payments from anywhere in the world without currency exchanges."

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