Bitcoin Cash (BCH) Extends Merchant Domination in Burger Wars
Bitcoin Cash (BCH) was adopted by a Burger King restaurant in Slovenia, making it the first cryptocurrency to be transactable in physical Burger King stores.
A video posted to social media on Friday shows two Bitcoin Cash users pay for their food using BCH from their mobile wallets.
Burger King Goes Crypto
Slovenia has become a cryptocurrency hotspot in recent years. Already over 300 merchants accept BCH as a payment method.
The adoption of BCH in Slovenia was sped up by the efforts of GoCrypto – a firm which specializes in providing merchants with the tools needed to accept crypto payments.
The video was posted to Twitter by Dejan Roljic, CEO of Eligma, which oversees CryptoGo. Roljic announced Burger King’s adoption of BCH, tweeting:
It’s official BurgerKing just accepted BitcoinCash and GoC token as a payment option in Slovenia. BurgerKing is now part of GoCrypto family and it’s the first physical BurgerKing location in the world accepting crypto.
CryptoGo operates out of Slovenia, and has been pushing crypto adoption within its domestic boundaries in recent years. The country’s largest shopping mall in Ljubljana contains one third of all the nation’s stores which accept cryptocurrency.
Bitcoin Cash -The Merchant’s Favorite Crypto?
As for why Burger King decided to accept Bitcoin Cash, and not the more well-known bitcoin (BTC) – the reasons are two-fold.
First, bitcoin remains unwieldy and impractical as a quick payment method due to high fees and long confirmation times. Imagine a coffee shop at rush hour where customers have to wait 20 minutes after paying just to make sure the transaction succeeds.
Bitcoin’s Lightning Network attempts to bridge this gap by introducing instant BTC payments. But according to the Lightning Network Stores website, just 360 merchants accept bitcoin Lightning Network payments worldwide at the time of writing.
Second, Bitcoin.com – supporters of BCH – previously invested $4 million in Eligma/GoCrypto. That’s according to former Bitcoin.com CEO, now Executive Chairman, Roger Ver. Reacting to the news that Bitcoin Cash had been accepted in Burger King, Ver tweeted:
That $4M Investment BitcoinCom just lead in @eligmacom is really starting to pay off! BurgerKing is now accepting BitcoinCash with more locations to follow!
Despite a market cap 40x smaller than BTC, Bitcoin Cash remains a popular choice among merchants thanks to low fees and near instant transaction times.
Data from Bitcoin.com’s own merchant map show 197 Australian merchants who accept Bitcoin Cash. In October 2019, BCH transactions accounted for 92% of the value all cryptocurrency payments made within the country.
This article was edited by Sam Bourgi.