Burger King Venezuela Starts To Accept Cryptocurrency in First of 40 Stores
The biggest news about cryptocurrency adoption this month: A Venezuelan Burger King has begun accepting bitcoin and altcoins through a partnership with Cryptobuyer.
A December 30 tweet by Cryptobuyer, a Panama-based cryptocurrency merchant gateway and leading platform for trading crypto in Latin America, first announced the news. The tweet claimed that a Burger King store in the Sambil area of Caracas had started accepting bitcoin along with ether, litecoin, binance coin, dash, and tether.
However, according to a post by a Dash executive Ernesto Contreras, Burger King will be using Dash as its pilot crypto payment, and not multiple currencies as the Cryptobuyer’s tweet claimed. The team choose Dash because they’ve seen significant demand for it from Venezuelan users and merchants.
Cryptobuyer’s PoS systems has been rolled out as a pilot initially in Burger King Caracas at the Sambil store, but Cryptobuyer and Burger King are aiming to serve all 40 locations nationwide by the end of 2020. Ultimately, they plan to accept all the other cryptocurrencies in Cryptobuyer’s portfolio.
“We are happy to collaborate with Cryptobuyer to keep growing the Dash ecosystem and serve Burger King and its customers,” said Ryan Taylor, Dash Core Group CEO.
As for Burger King Venezuela, it hasn’t publicly acknowledged its Venezuelan foray into crypto.
In a similar move, also this month, Burger King has started accepting Bitcoin Cash and GoCrypto Token (GOC) as payment in its store in Ljubljana, Slovenia. The reasons why Burger King decided to accept BCH, and not the more well-known bitcoin (BTC) are: bitcoin remains rather impractical due to high fees and long confirmation times; and investors from Bitcoin.com in GoCrypto, who previously invested $4 million, are obviously in favor of BCH.
It’s worth reminding that Burger King’s experiments with cryptocurrency acceptance have fallen flat in the past. Its initiatives in Russia and Europe were short-lived, and BK stores stopped accepting crypto soon after launch.