Second-Hand Electronics Retailer CeX Will Accept Bitcoin Across the UK

Journalist:
October 22, 2014

Second-hand electronics retailer CeX will support Bitcoin for purchases and sales at all of its centrally-owned shops in the UK from Wednesday, which it claims is the largest adoption of the digital currency on the UK high street so far, The Telegraph reports.

CeX will also pay out Bitcoin as an option when purchasing used devices from customers.

Bitcoin is not a passing fad but the beginning of a fundamental shift

David Butler, CeX commercial director, said:

“For us, Bitcoin is not a passing fad but the beginning of a fundamental shift in the way people think about digital money. Our customers are always looking for new and engaging ideas and innovations and this attitude is not restricted to a new game or phone but also true of their approach to payment choices.”

Also read: Marc Andreessen: Bitcoin Will Work in a Spectacular Way

In order to responsibly support the stabilization of Bitcoin, CeX will hold bitcoins at a central level, instead of immediately exchanging bitcoins for British pounds or other fiat currencies.

The announcement follows a pilot project in Glasgow including the installation of Scotland’s first Bitcoin ATM. In May, CeX became the first national UK retailer to adopt Bitcoin, and celebrated the online launch by turning their Glasgow store store into a pound free zone from 13 to 15th May and introducing Scotland’s first Bitcoin ATM, only the 4th in the UK.

“We live and breath technology so it’s only natural we looked at Bitcoin as a choice to offer you when you buy and sell games, phones, gadgets and films.”

CeX was founded in London in 1992 and has stores in the UK, Spain, USA, Ireland, India, Australia, Portugal and the Netherlands. They buy, sell and exchange a range of technology and entertainment products including mobile phones, video games, DVDs and Blu-ray movies, computers, digital electronics, TVs and monitors, and music CDs. In recent years, the “CeX” name moved away from “Computer eXchange” into an acronym for “Complete Entertainment Exchange.” The company now has over 300 stores worldwide including over 220 stores in the UK, 15 stores in the USA, 28 in Spain, 19 in Ireland, 12 in Australia, 13 in India, 5 in Holland and 1 in Portugal.

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Images from CeX.

Giulio Prisco @giulioprisco

Science writer, software developer, Bitcoin/crypto enthusiast.