Despite the uncertainty and doubts surrounding bitcoin, more restaurants across the world are now accepting cryptocurrencies alongside cash and credit cards. Chipotle, the burrito chain is now accepting cryptocurrency, including bitcoin, Ethereum, Litecoin, for purchases at its restaurants.
The technology partner in the move is Flex which provides the payment platform, technology and support for accepting cryptocurrency at the restaurant, and its experience in the crypto space is undoubtedly going to benefit Chipotle.
What is cryptocurrency?
Cryptocurrency is a digital or virtual token that uses cryptography to secure its transactions and control the creation of new units. Cryptocurrencies are often traded on decentralized exchanges like Coinbase or Binance. Bitcoin, Ethereum, and other cryptocurrencies are often traded for fiat currencies like the US Dollar or the Euro. Many people are starting to use cryptocurrencies for everyday shopping, including buying Chipotle with crypto! Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Ethereum is another popular cryptocurrency with unique features such as smart contracts and decentralized applications (dapps).
Chipotle restaurants now accept cryptocurrency as payment
Chipotle restaurants will allow customers to use their favourite cryptocurrencies like Bitcoin and Ethereum in select restaurants. The company hopes to increase sales through this new payment option. Cryptocurrency is still in its early stages and some kinks need to be worked out, but overall this is an excellent move by Chipotle. This is a significant step forward for the fast-food restaurant because it opens up new opportunities.
How to use cryptocurrency at Chipotle restaurants?
Starting this month, Chipotle restaurants are accepting bitcoin and other cryptocurrencies as payment options. This is big news as bitcoin is one of the most popular cryptocurrencies. If you’re looking to use bitcoin at a Chipotle restaurant, you will need to bring your digital wallet. You will then be asked how much money you would like to spend and what type of cryptocurrency you want to purchase: Bitcoin, Ethereum or Litecoin. After entering their payment information, they can proceed to the pick-up line just like any other order.
You can also pay by scanning the QR code on the receipt or using the app available on both iOS and Android devices. Keep in mind that some locations may not accept all cryptocurrencies yet – so check first!
In addition, customers can also use Flexa Crypto Payment Platform to place orders at select Chipotle restaurants. It allows users to buy and sell flexa tokens. The flexa token is designed to solve the problem of low transaction fees, high volatility in crypto markets, lack of liquidity for cryptos etc.
Which restaurants are using cryptocurrencies for payment
Cryptocurrencies are now being accepted at some of the most popular restaurants in the world. Chipotle is the latest restaurant to join the bandwagon, and it is not the only one. Starbucks, Subway, and Mcdonalds’ are just a few of the restaurants that are already using cryptocurrencies for payment.
Why? It’s easier than ever to pay with cryptocurrencies – just bring your smartphone! Additionally, it’s a great way to reduce costs and improve security. Not to mention, it’s a way to reduce fraud and increase transparency.
There’s still some uncertainty surrounding the future of cryptocurrencies, but that doesn’t mean you can’t enjoy a delicious Chipotle meal while you’re at it! On the contrary, accepting cryptocurrency as a mode of payment might improve the business of Chipotle and also provide variety for its customers.