Burger King In Venezuela Initiated Acceptance Of Bitcoin For Payments
Kenny Stevens – Cryptocurrency Enthusiast
Like many businesses exploring the possibility of blockchain technology, Burger King has started to accept Bitcoin BTC along with 5 other cryptocurrencies as payment. This new partnership has brought the first fast food chain to this industry. No doubt, it is an impressive initiation. It is further informed that 40 outlets of the chain will follow this.
Some other cryptocurrencies that will be accepted along with Bitcoin are Altcoins Ethereum (ETH), Litecoin (LTC), Binance Coin (BNB) and Dash (DASH), as well as the stablecoin Tether (USDT). All these crypto’s can currently be purchased through our platform, BC Bitcoin. A tweet shows that a single branch of Burger King in the Sambil area of Caracas is accepting all the above mentioned cryptocurrencies.
However, previous trials with the new payment method have not gone as smooth. Similar initiatives in Russia and Europe were not able to survive for very long and cryptocurrency as a payment method was dropped, with the main reason being the fluctuating prices from week to week.
The Venezuelan government has reportedly restricted cross-border payments through foreign currencies. It was due to significant economical commotion which has sparked a series of people buying and selling Bitcoin throughout the nation. Later, it awarded the boost in cryptocurrency practice.
Moreover, Petro, the official cryptocurrency of the state has gone through many complications and controversies to reduce the suffrage of crisis. As Cointelegraph reported, Petro is now the only currency accepted for some essential services, such as passports.
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