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Dundee building and construction services contractor McGill will now accept cryptocurrency as payment for services delivered.

The company has partnered with payment gateway provider CoinGate to accept payment in over 50 different crypto coins.

These include Bitcoin, Ethereum, Litecoin and Dogecoin.

McGill is one of the first building services companies in the UK to accept cryptocurrency payments.

Ms Craig says: “Our decision to accept cryptocurrency was an easy and obvious one.

“Many consumers now hold this form of currency, so we will accept it as payment.

“We expect interest from the domestic or private market, though I don’t believe it will be too long before local authorities and other public sector organisations start to explore crypto as a payment option.”

McGill was bought from administration two years ago and has won several housing and local authority contracts continuing its recovery.

McGill modernise with cryptocurrency

It is estimated that there are over 20,000 businesses around the world where cryptocurrency is an accepted form of payment.

The Financial Conduct Authority recently announced that approximately 2.3 million people in the UK hold cryptocurrency, and they expect this to rise by around 400,000 over the year.

Despite the growing popularity of cryptocurrency, there are under 1,000 businesses accepting the currency in the UK.

McGill commercial director Douglas Smith says: “There is a lot of cryptocurrency in the UK, but hardly anywhere to spend it; why wouldn’t people want to pay for their new boiler, or the installation of an new alarm, with cryptocurrency?

“Accepting cryptocurrency is just one of the ways that we are modernising the business to secure long-term future success.

“We have grown this business quickly, by being bold and pushing boundaries, and we continue to look for the next new thing.”

The price of Bitcoin rose from £21,000 to more than £28,000 per coin on Monday.

The surge follows an announcement from Amazon revealing it was hiring an expert in the field.

This content was originally published here.

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