So, you’ve bought your supply of crypto and you’re feeling good. Now what?
If you’re a trader or a hodler, you might just want to make a quick buck out of your new-found stash. But what if you want to spend your Bitcoin to make an ordinary purchase?
Fear not! With CoinMap now proudly proclaiming nearly 14,000 crypto-friendly venues worldwide, you’re sure to find something to spend your Bitcoin on. We’ve scoured the globe to find five hotels, cafes, and bars that accept crypto.
Bondalem Beach Club – Bali, Indonesia
Trading cryptocurrency for sun, sand, and surf? Yes, please!
Since 2016, Bondalem Beach Club has been listed on all the major coin-mapping sites. It has received many customers who heard of it through its crypto connection. However, not one guest has paid in BTC to date.
Coined Times spoke with the Balinese resort’s founder and marketing director, Max Demenchuk. Perhaps surprisingly, he remains very positive about crypto in his business.
“To my mind, for merchandisers, participation in the crypto industry is first of all about marketing,” Demenchuk told Coined Times. “Even if you do not accept it, you gain. The main idea is not to receive cryptocurrency, but to receive an additional low-cost ad.”
Indeed, crypto has proven to be great marketing for Demenchuk. In 2016, he made headlines by offering to sell Bondalem Beach Club for BTC. He even considered starting his own ICO to sell the hotel. Although these ideas proved too complicated, the publicity they generated was worth it.
“I published several posts that I am ready to sell the hotel for Bitcoin,” Demenchuk said. “Someone recently reposted it, then within one day I received this free ad on 10+ sources connected with the crypto world.”
Bandholm Hotel – Bandholm, Denmark
From the tropical paradise of Bali to the chilly coast of Denmark, crypto is popping up all over the world. Bandholm Hotel – a luxury getaway a few hours southeast of Copenhagen – has been listed on CoinMap since 2013.
General Manager Joseph Kristiansen confirmed to Coined Times that his hotel still accepts BTC. According to him, the hotel treats BTC “just like other currencies, gift cards, or other vouchers.”
So, if you’re looking to spend your Bitcoin on a relaxing vacation, Denmark might be the destination for you.
Breakfast @ Timothy’s – Melbourne, Australia
Perhaps you want to spend your Bitcoin, but you’re not prepared to embark on a luxury holiday. Why not grab a coffee instead?
Nestled in the trendy Melbourne suburb of North Fitzroy, Breakfast @ Timothy’s has just what you’re craving. The cafe’s owner, Tim Curtis, spoke to Coined Times about why he decided to accept crypto.
“We started accepting Bitcoin around 18 months ago off the back of my interest in the technology. At the time, Bitcoin’s value was soaring and we were being asked frequently about it,” Curtis said. “Having come from an IT background, I could see that it would be relatively easy to implement in our business, and in addition act as a talking point amongst our customers.”
The cafe has a dedicated Android tablet with an app that produces a QR code for customers to scan. Customers can see the value of the transaction and pay with a single click. Curtis said many customers who are unfamiliar with crypto find it interesting to see how a real-world transaction works.
While the rate of BTC purchases has dropped slightly since the bull market of 2017, Curtis said his cafe will continue to accept crypto.
“We probably get one Bitcoin transaction a week (on average) which is a little lower than it was at the beginning,” he said. “I definitely feel that we have returning customers who visit not only for the great food, but also to utilize their Bitcoin. Occasionally we see new customers who take advantage of the ability to utilize their crypto.”
Xtracción Café – Lima, Peru
South America is the birthplace of coffee. Now, in Lima, you can combine the ancient tradition of coffee with the modern miracle of cryptocurrency.
Xtracción Café in the Peruvian capital began to accept BTC a little more than a month ago. As seems to be a common trend, the cafe is yet to receive a single payment in crypto.
Alberto Vargas from the cafe said that, despite the slow start, he’s not ready to give up yet.
“Sincerely, at this date, I have not had a client who paid with crypto yet,” he told Coined Times. “I will continue accepting crypto,” he added. “I hope more people use this in the future.”
Dogma Brewery – Belgrade, Serbia
After a long day traversing the globe to spend your Bitcoin, you probably feel like a nice cold beer. Pop into Dogma Brewery in Belgrade, Serbia, and you can exchange your crypto for a tasty craft ale.
Dogma co-founder Mladjen Merdović decided to accept crypto at the brewery after getting involved himself as an early adopter.
“As a pioneer in the crypto world, five years ago I decided to implement crypto payment in my previous restaurant, ‘Appetite,'” Merdović told Coined Times. “That was one of the first places in this part of the region with a Bitcoin payment option. After that, we established the same at Dogma.”
Merdović said his business had found a number of new customers thanks to accepting Bitcoin. While the number of customers actually paying in BTC has dipped recently, he’s not worried.
“At this moment when the market is down, we don’t have too many transactions, but everything depends on trends,” Merdović said. “Definitely we expect it to increase in the future.”
Some local regulatory issues have prevented Dogma from accepting any altcoins at this stage. However, Merdović – who is also the president of Bitcoin Association Serbia – plans to expand this in the future. With his involvement in the Serbian crypto scene, he’s also considering accepting coins with a connection to the region, including Safex Cash.
“We believe that cryptocurrency is the future of payments, so we will continue to accept other currencies as well.”
If our small sample size is any indication of the wider market, there’s a long way to go before we reach mainstream crypto adoption. It seems many small businesses currently accept crypto to help their marketing rather than as a genuine form of payment. However, with some passionate early adopters at the helm, we can only expect more and more venues to start accepting crypto soon.