The gas company allows to face electricity and gas with cryptos through EurocoinPay.
In mid-June, Naturgy became a pioneer in Spain by allowing the payment of electricity and gas in cryptocurrencies. Through an agreement with EurocoinPay, a company that offers immediate payment systems with digital currencies, customers of the gas company’s services have the option of paying their bills with Bitcoins, Ethereums or any other central bank digital currency or stable currency. A means of payment that is “simple, safe, instant and transparent”, assures ‘Bolsamanía’ Herminio Fernández, CEO of EurocoinPay.
How Crypto Payment Works
Naturgy has implemented the EurocoinPay Virtual POS in its payment options, which gives its customers the option of paying their bills with cryptocurrencies within their customer area. The subscriber, for his part, has the option to pay with the cryptocurrency he wishes and the company, or any other business that implements this service, receive said payment in any ‘crypto’ or in legal tender (fiduciary).
As for possible commissions, the manager of the cryptographic payment company clarifies that the client is exempt from these charges in each of the movements made. Likewise, you can follow the trail of each transaction made with cryptocurrencies, since it is registered in the private EurocoinPay Blockchain and in the public Tangle IOTA network; being like an immutable daily accounting book.
Of course, Fernández points out that “the payment with cryptocurrencies does not vary from another payment made in cash, credit card or transfer, it is counted as an expense, and as such it must be declared to the Treasury.” As a company that charges with cryptocurrencies but receives its payments in euros, in the face of the Tax Agency, “it is the same as charging your sales with any other form of payment,” he continues. “If you receive payments in cryptocurrencies, you must declare these as assets and if you sell them and obtain profits, you must declare these profits as such,” he clarifies.
Given the doubts that the amounts received by the company may be affected by the volatility of the prices of Bitcoin and other cryptoactives, the person in charge of EuroCoinpay clarifies that “companies that use our POS terminal and that receive payments with cryptocurrencies, do not see affected by volatility, since the operation is carried out instantly. If your company decides to receive euros, if you sell a product worth 20 euros, you always receive 20”. However, he points out that if you decide to receive Bitcoins, you do participate in the volatility of the asset. “Also, companies have the option to use stablecoins if they wish, although it does not always have to be the best course of action.”
Future of Payments with Crypto Assets
Fernández maintains that “the use of cryptocurrencies must be implemented gradually; innovation and technology must be implanted in the daily life of Spanish payments”. EurocoinPay has a POS that can be applied to both physical and online stores.
“Furthermore, our POS has been selected twice by the Bank of Spain Sandbox for its disruption and innovation”, he highlights.
EurocoinPay is a Service Provider for exchanging virtual currency for fiduciary currency and custodian of electronic wallets. “And these are the levers of trust that should encourage businesses and companies to integrate these payment methods to expand their sales channels and reach more than 6 million cryptocurrency users in Spain and 300 million worldwide” , concludes the CEO of the crypto payment company.
By Audy Castaneda
