A SECOND-HAND exchange is replacing the pound with virtual currency Bitcoin for three days in its Glasgow store, making it the first retail outlet in the UK to let customers receive the virtual coins for products.

CeX, the high street chain that buys, sells and exchanges technological and electronic products, is switching from the pound to digital currency Bitcoin exclusively in its store on Sauchiehall Street.

While using Bitcoin to buy products is becoming increasingly common in stores and online in the UK, CeX will be the first outlet to pay out in the currency, meaning customers can earn the currency for the first time, by selling goods.

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David Butler, commercial director at CeX said: "It's exciting to be at the centre of such an innovative trial. In our store, the staff and customers live and breathe technology so it's appropriate we looked at Bitcoin as a way for our customers to buy and sell electronic goods. Not only does Bitcoin have a number of security and access benefits, but it is also gaining popularity among consumers the world over."