Did you know that some fast food restaurants now accept cryptocurrencies as payment in certain regions? Now you can get your favorite burger or milkshake with more options than just paying with your country’s fiat currency!
Even other companies in the global industry, such as those in casino industry, also accept cryptography. Whether it’s a fast food restaurant or a casino, check their payment terms to find out how you can finance your restaurant meals and your favorite casino games.
Why some businesses now accept crypto
It turns out that paying with cryptocurrency has fewer transaction fees than paying with a debit or credit card. Credit or debit cards typically incur a transaction fee of $0.25 or more with each swipe, and then the company is responsible for paying an additional 2-4% of the customer’s total transaction total.
Crypto transactions are typically 1% or less of the transaction total. Therefore, the more customers who use crypto as a payment method, the lower the business fees the company has to pay.
Foreigners visiting the United States from another country may not have acceptable debit and credit cards for payment. The use of crypto helps increase sales for merchants because these people can pay with crypto and still get the goods they need.
Using cryptocurrencies is also more secure than using a debit or credit card. While fraudsters can use card skimmers to obtain debit and credit card information, this cannot be done with crypto, meaning it better protects customers’ payment methods.
1. Burger King
Burger King in Paris, France has been accepting crypto payments since March 2023 with machines connected to Binance Pay and Alchemy Pay accounts for crypto payments to be accepted. Their most popular accepted cryptocurrencies are Bitcoin and Ethereum and even Dogecoin.
There was also a crypto promotion that the fast food chain ran in connection with Robinhood in 2021. You had to make a $5 purchase on the Burger King app and get a reward code to place in your Robinhood crypto account .
2. KFC
In 2018, KFC Canada ran a limited time promotion where they embraced crypto when they released a chicken bucket containing crypto coins. The Crypto Bucket was a $20 featured meal featuring 10 original recipe recipes, one side of waffle fries, another medium side of your choice (like mashed potatoes, mac and cheese, coleslaw , etc.), a medium sauce and two dips. .
No further news has been released since then regarding whether or not KFC continues to accept Bitcoin as payment in different parts of the world. One of the others Yum! Brands, like Pizza Hut, accept cryptocurrencies in Venezuela. We’ll wait and see.
3. Starbucks
In 2016, Starbucks also placed the iPayYou crypto wallet within the Starbucks app to make it easier for regular visitors to pay for their favorite cup of Joe with their crypto investment if necessary. Around 24,000 Starbucks stores are now compatible with this integration to pay with crypto using the mobile app.
Starbucks entered into a partnership with crypto company Bakkt in 2018, where they can now accept crypto payments in certain regions where they can convert those payments to US dollars. Therefore, on average it costs around 0.0068% of Bitcoin to get a latte.
4. Metro
In 2022, Subway locations in Berlin, Germany were testing customers paying with crypto via the Lightning Network. Layer 2 Bitcoin payments make it more secure for the customer patronizing the establishment. Prior to this, Subway attempted to see how Bitcoin acceptance would work at three chain stores in Moscow, Germany.
Lipa is the operating system that connects clients to the Lightning Network. Lipa charges just 1% fee per crypto transaction, compared to debit and credit card payments more than double that figure, at just 2.5%.
Conclusion
Many food businesses now accept crypto to increase the convenience of additional payment options for customers and pay fewer fees when processing transactions. Which crypto-accepting fast food restaurants have we missed? Let us know in the comments.
This article was written in cooperation with HighRiser Digital Marketing
