File image: IOL

CAPE TOWN - Online classified and community website Gumtree has revealed that many South Africans are wanting payment in Bitcoin for goods on sales. 

Bitcoin has become very popular and many more stores and businesses are accepting bitcoin as payment. 

Also read: Watch: SA's first business school now accepts Bitcoin payments

“This is particularly true for high-value items like cars, bikes and boats,” says head of Core at Gumtree Claire Cobbledick.

“Many sellers are willing to take a gamble with their assets in hopes of a large pay-out.”

Also read: Bitcoin Cash may kill Bitcoin

While Gumtree does not allow the advertising of cryptocurrency miners or services, buyers and sellers can use Bitcoin as a currency of exchange.

Cobbledick warns users that they must be aware of the risks involved with using Bitcoin. 

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“Bitcoin is a volatile currency, so while you could easily see a 50% increase in your investment, you could just as easily end up with nothing. It’s up to the seller to decide if they are willing and able to take a gamble,” she says.

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- BUSINESS REPORT ONLINE