How many bitcoins for a bath bomb? Lush is now accepting cryptocurrency

Cosmetics retailer Lush is introducing the ability for online customers to pay using cryptocurrency Bitcoin.

The brand said that accepting the currency was "part of a wider strategy to delve into the Blockchain community and provide an ethical viewpoint on its possibilities". 

It added: "It will allow us to develop new ways of working within our business, with our global suppliers (often based in small local communities, in developing countries) and with charitable donations, allowing more transparent and secure transactions, with no hefty charges, exchange rates or fees."

Those choosing to pay by Bitcoin will be taken to payment service BitPay, where the price of the basket in GBP is converted to the equivalent Bitcoin value in real time.

Customers will be entitled to a refund on the same basis as usual, but the amount will be the value of the purchase in GBP, meaning it may be either less or more in Bitcoin.

In the last 24 hours, the value of one bitcoin has fluctuated between £1,806 and £1,856. This means the currency is worth more than three times what it was a year ago, and around ten times its value two years ago. But it has fallen somewhat from its peak of £2,272, recorded on 11 June this year.

At current exchange rates, one of Lush's £3.95 Dragon's Egg bath bombs would cost 0.002187 bitcoin.

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