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Maryville Mattress Store Adds Cryptocurrency to Payment Options

MARYVILLE, Tennessee (WATE) – You can now buy a mattress in Maryville without touching your bank account. Beds To Go started accepting cryptocurrency less than a week ago. On Thursday we were there because they made their first real sale with virtual money.

David Bissett, in search of a new mattress for his vacation rental, was the first to take advantage of the new payment option.

“The future is all about change,” Bissett said. “The future is a question of innovation, and we must open ourselves to it. ”

Bissett believes decentralized money is part of that future. He decided to invest in HEX, a form of cryptocurrency. The mattress was his first purchase.

“I try to think in an innovative way so I’m always open to new ways of thinking,” he added. ‘

Store owner Brooks Cunningham agrees. This is why he decided to start accepting cryptocurrency as a means of payment. He has been learning and buying cryptocurrency for a few years.

“I have finally reached the point where I have confidence in the future of crypto, and I see by offering it as a payment option, we are helping to advance that future,” Cunningham said. “But we’re also expanding our customer base to a whole new audience. ”

He sees this move as a way to save clients time and allow them to monetize their earnings by investing in cryptocurrencies. Aside from the need for a mattress, this is the only reason Bissett chose the Beds To Go store over the others.

The mattress he bought was around $ 1,000. A HEX is worth around 20 cents on the dollar, at least at the time of purchase. So he sent 5,000 HEX. Cunningham received it less than five minutes later. Cunningham could either convert the HEX to USD immediately and get the full value of the sale, or hold it and hope for gains in the market.

“It’s a risk you have to be prepared to take,” Cunningham said.

We spoke to James Reeve, professor emeritus at the Haslam College of Business at the University of Tennessee, about this six months ago. He explained that the value of a currency is determined by demand. This demand is largely driven by parts of the world where people do not have access to credit or to banks.

Reeve also noted that the cryptocurrency does not have an owner or central location, like a bank. Transactions are stored in digital ledgers, verified, and then duplicated on a program called a blockchain. He said investors should exercise caution and do their research as values ​​change often.