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Budapest Taxi teams up with CoinPay to accept bitcoin

Through its partnership with Hungarian start-up CoinPay, Budapest Taxi will be able to accept payments for fares made with bitcoins as of February, the company announced yesterday, according to Hungarian news agency MTI.

According to CoinPay deputy-CEO András Lövy, Hungarians have approximately HUF 8 billion in bitcoins, a peer-to-peer digital asset and a payment system.

Following the start-up’s statement, the National Bank of Hungary issued an announcement yesterday, warning about the possible risks of using bitcoin, MTI reported. Using virtual payment instruments, particularly bitcoin, is far more risky than using conventional electronic payment solutions, such as bank cards, the central bank said, according to MTI.