Are you looking for a restaurant in Los Angeles, California that accepts cryptocurrency payments? If so, you're in luck! There are a number of French restaurants in the area that accept payments in the form of Bitcoin, Ethereum, and other digital currencies. At CamboFlare, an Asian-fusion restaurant in Big Lake, Minnesota, customers can pay with cash, credit cards, and the main cryptocurrencies. The eatery even offers discounts of 10 to 50 percent to those who pay with crypto. In a small city like Big Lake, with 10,000 inhabitants, some people are realizing that they can afford fried rice with a small payment in bitcoins.
Across the country, some restaurants have recently adopted cryptocurrency as a payment method. Others are taking the crypto craze a step further by accepting digital assets such as bitcoins through the integration of Bakkt into the Starbucks app. Independent restaurants that accept cryptocurrency often place price limits on purchases due to market volatility and focus more on their potential benefits in the future. Ocean Blue, an oyster restaurant and bar in Utica, New York, only receives a few crypto transactions a month.
Owner Francis Pezzolanella said that accepting cryptocurrency has allowed the restaurant to re-prioritize its time. However, paying with cryptocurrency can be expensive due to transaction fees called gas fees. These fees compensate cryptocurrency miners for the energy needed to verify transactions. Typical crypto wallets lack the “security and accessibility” that many are used to in banks. To encourage diners to pay with bitcoins, the payment service provider BitPay has partnered with dozens of larger restaurant chains such as Ruth's Chris Steakhouse and Red Lobster, as well as smaller establishments such as Formento's and The Bristol in Chicago. Merrick Theobald, vice president of marketing at BitPay, said that more and more restaurants have adopted crypto payments because they tend to be fast and cost little in fees. People who pay with cryptocurrency are also more likely to tip generously.
Varona stated that, in a perfect world, the restaurant would operate solely with cryptographic payments. The restaurant will soon have an ATM where diners can buy cryptocurrency with cash. The restaurant continues to accept cryptocurrencies as an “experiment” due to their volatility and problems with transactions, and has set price limits for larger bills that are paid with cryptocurrency. As more people understand the safety and usefulness of cryptocurrencies, more restaurants will adopt them as a payment method. Subway in Buenos Aires began accepting Bitcoin in exchange for its delicious sandwiches.
Stable coins which are cryptocurrencies linked to an external asset such as the US dollar are becoming a “huge complement” to other payment methods. According to the latest reports, more than 15,000 restaurants in France allow paying with cryptocurrency. Even in less developed markets, you might be lucky enough to find at least one chain of restaurants or an individual restaurant that allows you to pay with Bitcoin. Safari Comedor is a Mexican restaurant located in Tulum's residential area called Aldea Zama.