A PILATES instructor based in Dublin 15 has become one of the first women in fitness to accept Bitcoin payments for her classes.
Sinead Nic Clamha (29) has embraced the new technology, which uses an internet-only currency in exchange for goods and services.
Bitcoin works by installing a
‘wallet’ on your computer, which then generates a unique Bitcoin address. In turn, this address can be used to make or accept payments.
Sinead, a mother of one year-old twins, came across the digital currency by association.
“I initially became aware of Bitcoin through my fiancé and my brother-in-law, who both did some bitcoin mining in the past. My fiancé, Ross, is my web developer and he set it up for me.
“I’m using an Electrum wallet to receive any bitcoin purchases through the site.
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The Carpenterstown resident concedes that her knowledge of the system is limited, but the financial benefits are clearly apparent.
“I don’t have too much insight on how the technology behind Bitcoin actually works,
? she admits.
“But I was interested in using it as I’m always looking to lower my overheads. I currently pay about four per cent on my credit card fees through Stripe, so I jumped at the chance to have much lower transaction fees.
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However, despite the ambitious move the uptake of Bitcoin transactions has yet to get off the ground.
“To date, I have yet to receive a payment in Bitcoin,
? says Sinead.
“While some of my customers are tech savvy, Bitcoin may not be mainstream enough for my customers to actually hold any coins themselves.
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Despite this, Sinead believes it’s only a matter of time before Bitcoin payments become more widespread.
“I think its popularity will pick up, especially seeing as a lot of payment processors like Stripe are now integrating it into their platform as standard,
? she says.
“Price fluctuations are a big issue at the moment along with access. I think the general public still aren’t sure how to get their hands on coins and what the benefits are.
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Sinead attained her Advanced Diploma in Matwork Pilates after a four-year stint as an airhostess in Dubai. After finding that flying took its toll on her heath she returned home, retrained and hasn’t looked back.
“I love Pilates and when I see how it improves clients’ posture and strength it fuels my desire to bring it to more peoples lives.
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