Carrefour and Kruidvat offer cryptocurrencies on their shelves

At Carrefour and Kruidvat, customers can now purchase cryptocurrencies. The retailers are adding cryptocurrency gift cards to their lineup of gift cards. In doing so, they are introducing a high-risk investment product into a familiar retail environment, investment advisors warn.

17,500 retail locations

Alongside gift cards for Netflix, Zalando, and other services, Carrefour and Kruidvat now also offer gift cards for Bitcoin and other cryptocurrencies. Carrefour has been offering these cards since October 9 in all its Belgian stores. Press Shop, gas stations, and convenience stores are also already selling them. In total, this amounts to approximately 17,500 retail locations in Belgium.

With these new cards, retailers are responding to the growing interest in digital currencies. Customers can purchase a gift card worth between 25 and 500 euros, which they can then convert online into Bitcoin, Ether, or Solana. To do so, however, they must create an account and verify their identity. The minimum age requirement is 18.

Accessible, but Expensive

These cards are offered by the Swiss-Austrian company Cryptonow, which aims to reach a wider audience through brick-and-mortar stores. For retailers, this represents an expansion of their prepaid card offerings without having to provide cryptocurrency-related services themselves.

This accessibility, however, comes at a price. Cryptonow charges a 4.9% commission and a 2.90-euro activation fee for the Bitcoin Starter Kit. Thus, on a 25-euro purchase, approximately 4 euros in fees may be deducted immediately. Additional fees may also apply when selling.

Cryptonow holds a European MiCA license, but the Belgian financial supervisory authority, the FSMA, continues to warn of the risks associated with investing in cryptocurrencies. The presence of these cards on the shelves of major retail chains makes cryptocurrencies more accessible, but not necessarily safer or more advantageous.