Cryptocurrency, Technology

This is the world’s first retailer to accept cryptocurrency only

Written by Talha Hameed ·  47 sec read >

A café in Prague is the world’s first retailer to accept cryptocurrency only. Compared to other modern retailers, accepting both digital and fiat currency, Bitcoin Café has firmly rejected the conventional currency and accepts cryptocurrency as the only form of payment.

Cryptocurrency offers anonymity to its users through a decentralized system. The founder of the cafe, Ztohoven, a group of ethical hackers, promotes the decentralization of power.

According to Bitcoin Café’s online statement “While Bitcoin Coffee is the first cafe where only Bitcoins are paid, you do not have to worry about anything. We will be happy to explain everything and help you become a proud Bitcoin owner.” Customers at Bitcoin Café, who are not familiar with cryptocurrency, are given a new Bitcoin wallet and are facilitated to convert fiat currency to bitcoins.

Alžběta Svobodová, a barista at Bitcoin Café with virtual wallet implanted in her wrist, says “Coffee is just a tool to introduce people to cryptocurrency and decentralization.” Litecoin, another cryptocurrency, has also been introduced as accepted form of payment at Bitcoin Cafe.

Since its availability, cryptocurrency has seen a meteoric rise in its acceptance. While Bitcoin Café accepts cryptocurrency only, other companies have started to accept cryptocurrency along with conventional currency. Earlier this year Starbucks also started accepting Bitcoins as a payment method.

Featured Image — IBTimes