Cryptocurrency is now being accepted at a farm in Southwest Florida, believed to be on the cutting edge of the newest way to pay.
Nicole Cruz’s farm in Felda, called Circle C Farm, is raising meat and eggs in contrast to traditional factory farming.
“We’re coming into our 6th year, we launched our eggs and chicken in 2015.” Cruz said, “People want to know where they are sourcing their meats, they want to know that livestock are raised and handled humanely.”
Everything from cows and chickens, to lamb, turkey, and even duck. The farms’ meat gets shipped around the US through their website.
Cruz wanted to make it even easier.
“We started to analyze, what would make it even more simple, to make it so people have access to us?”
Her answer was cryptocurrency, a method of payment that exists only electronically, like bitcoin.
The only difference is that it can be used around the world.
“If you think about it, it’s really no different than going to a foreign country and them accepting multiple currencies,” said Tom Smythe, a Finance Professor from FGCU.
Right now, Nicole’s website accepts about 8 kinds of cryptocurrencies, with plans to add more.
“To my knowledge, there are no other farms doing what we are doing and accepting crypto. It’s the perfect opportunity for people,” Cruz added.
The only catch is that the value of those digital currencies is more volatile than a regular dollar.
“You are going to be exposed to the ups and downs of that currency, depending on how quickly you choose to exit it, if you choose to exit it.” Smythe from FGCU added.