BCX and Lova have created a unique, modern, multifunctional mobile android and iOS application and thus combined all their services under one application and one brand called Lova. You can find out more about the Lova application on the website www.lova.ba

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Crypto payment: what are the advantages and how can we pay with cryptocurrencies in BiH?

In recent years, cryptocurrencies have emerged as a groundbreaking innovation, revolutionizing the way we conduct financial transactions. As a digital form of currency, cryptocurrencies offer numerous advantages over traditional payment methods. In this article, we will explore the advantages of crypto payments and how they are transforming the financial landscape.

Advantages of crypto payments

1. Enhanced Security:

One of the most significant advantages of crypto payments lies in the enhanced security they provide. Cryptocurrencies utilize cryptographic encryption techniques to secure transactions, making it nearly impossible for hackers to manipulate or steal funds. The decentralized nature of blockchain technology ensures that transactions are transparent, tamper-proof, and resistant to fraud.

2. Faster and More Efficient Transactions:

Crypto payments eliminate the need for intermediaries, such as banks or payment processors, resulting in faster and more efficient transactions. Traditional cross-border transfers can take several days to complete, involving high fees and complex procedures. With cryptocurrencies, transactions can be processed within minutes, regardless of geographical location, and at a fraction of the cost.

3. Accessibility and Financial Inclusion:

Traditional financial systems often exclude a significant portion of the global population, particularly those in underbanked regions. Crypto payments provide an opportunity for financial inclusion, as they can be accessed by anyone with an internet connection and a digital wallet. This empowers individuals who lack access to traditional banking services to participate in the global economy and manage their finances securely.

4. Lower Transaction Costs:

Cryptocurrencies significantly reduce transaction costs compared to traditional payment methods. Cross-border transactions, for example, often incur hefty fees, including conversion fees and intermediary charges. Crypto payments eliminate or minimize these costs, making it an attractive option for businesses and individuals engaged in international trade or remittances.

5. Innovation and Financial Opportunities:

The advent of cryptocurrencies has spurred a wave of innovation and financial opportunities. Blockchain technology, the underlying infrastructure of cryptocurrencies, has the potential to revolutionize various sectors, including supply chain management, healthcare, and voting systems. Furthermore, cryptocurrencies have opened up new avenues for investment and wealth creation, enabling individuals to participate in decentralized finance (DeFi) and Initial Coin Offerings (ICOs).

How and where in BiH can we pay with cryptocurrencies?

As far as BiH is concerned, payment with cryptocurrencies is possible in over 120 locations. To be able to use this form of payment, you need to install the Lova application. Our BCX platform is a partner with Lova, a contactless BAM payment application or crypto wallet.

After downloading the application, from Google Play or the App Store, you need to register through a few simple steps, and the entire registration process is explained in this tutorial.

Payment with your crypto wallet is done in the same way as when you pay with a BAM wallet - by simply scanning a QR code with your mobile phone and charging a commission of 5%. Of course, it is necessary to have in your wallet a certain amount of one of the six cryptocurrencies available on the BCX exchange: Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Litecoin (LTC), Bitcoin Cash (BHC) and Ethereum Classic (ETC). It is important to note that service billing is done again in BAM because the application converts from crypto to BAM before payment, and you can view the locations where you can pay with cryptocurrencies here.


Cryptocurrencies have introduced a new era of financial transactions, offering numerous advantages over traditional payment methods. Enhanced security, faster transactions, accessibility, lower costs, greater control, and ownership are just a few of the benefits that come with crypto payments. As the world embraces digitalization, cryptocurrencies have the potential to reshape the global financial landscape, fostering financial inclusion and unlocking new opportunities for individuals and businesses alike.


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