The adoption of crypto as a payment method for everyday goods and services has increased in recent months. Digital parking startup Seety has made it possible to pay parking tickets with Bitcoin in some Belgian cities. According to a report released Thursday by DataNews, the Belgian startup has released this crypto payment feature in Antwerp and Brussels.
Related reading | New to Bitcoin? Learn how to trade crypto with the NewsBTC trading course
In addition to Bitcoin, users can also use other digital currencies to make payments. Options include cryptocurrencies such as Ethereum, Bitcoin Cash, Litecoin, Dogecoin, and stablecoins such as DAI and USD.
The company expects cryptocurrencies to become more environmentally friendly in due course, which means they will increasingly be used to pay for everyday goods and services.
How Seety Works
To use encrypted coins to pay for a parking space through Seety, users can purchase Seety Credits on the app. The transaction fees are the same as for payment by credit card.
Seety offers an interactive map on its app that helps users locate the cheapest or free parking spots. In addition, they can determine the prices and parking regulations for any street or parking lot in the city. A community feature alerts a member in case a parking attendant is spotted near their car. With Seety, users can find the cheapest parking zones, avoid parking fines, and pay for their parking in two clicks.
Total crypto market rises to $2.275 Trillion | Source: Crypto Total Market Cap from TradingView.com
The company has also recently introduced its app in more than 100 Dutch towns and municipalities. The application, available for iOS and Android, now has 355,000 active members and expects a turnover of 400,000 euros in 2021. For 2022, the startup is targeting a turnover of 2 million euros.
The startup is one of the companies initiated by the Belgian Start it @KBC accelerator program.
Use crypto for daily transactions
The use of crypto to pay for parking services dates back years. In 2014, a Reddit user posted that he paid for a parking ticket with Bitcoin using the Brawker online marketplace.
Related reading | Visa customers spent over $ 1 billion on encrypted cards this year
Recently, Visa said its crypto cards processed more than $ 1 billion in crypto spending in the first half of 2021.
Featured image from AppWikia.com, Chart from TradingView.com