Project D Bitcoin doughnut

Source: Project D

Luxury doughnut specialist Project D is now accepting payment via cryptocurrencies including Bitcoin.

The Derby-based company believes the move will help make online payments easier for its customers.

Digital currencies such as Bitcoin, Ethereum and Dogecoin are increasing in popularity, both as methods of payment and investment opportunities, although their value can fluctuate wildly.

“We pride ourselves on being forward-thinking and we think we could be the first company in Derbyshire to accept virtual payments, but we certainly won’t be the last,” said Project D co-owner Max Poynton.

“The fact that some of the biggest companies in the world now accept the many forms of cryptocurrency indicates that it will play a significant role in the future of purchasing, possibly because it’s cheaper, faster and more secure.”

Project D, which makes handcrafted, highly decorated doughnuts, says the decision to accept cryptocurrency was “the next logical step” after it moved its business online in response to Covid-19 restrictions.

“We were quick to realise that adapting our website, which was only a landing page originally, could help Project D survive lockdown and we were able to get this up and running within a week,” said Poynton.

“It’s clear that today’s customers are tech-savvy and prefer to do their shopping and browsing online. The natural progression from this is to start offering cryptocurrency and we’re really looking forward to seeing just how many people are willing to purchase in this way.”

As well as moving its business online, last year Project D opened a distribution centre in Leeds, creating 20 jobs, and moved to a new 11,000 sq ft production bakery in Spondon, Derby. The company’s delivery service now covers areas including Birmingham, Derby, Doncaster, Leicester, Loughborough, Nottingham, Rotherham and Sheffield.