4 Ways To Pay With Bitcoin For A Cup Of Coffee
I literally can’t live without coffee. Until I get my double espresso in the morning, I feel like a zombie—and not even the fun kind of zombie. So, as both a coffee addict and a crypto enthusiast, I got a great idea to buy a cup of coffee for Bitcoin. Turned out, it’s not as easy as it looks.
My path to the coffee bought with Bitcoin was long and full of obstacles. But, as Master Yoda has said: “Patience you must have, my young padawan.” At the end, I found 4 different ways to buy a cup of coffee with my Bitcoin.
Exchange Bitcoin for coffee directly
There are some places where you can pay for coffee directly with Bitcoin. They may be as common as pink space-faring unicorns, but they do exist. And they even charge you a transaction fee that exceeds the cost of the cup itself!
It’s important to keep in mind that nobody knows how much time the transaction will take, so there is a possibility that you will wait three hours in a coffee shop to complete your payment. Only then you will be able to enjoy your coffee, covered with ice. Or, if you are lucky and barista hasn’t yet lost all trust in humanity, they might believe that you really have sent Bitcoin and will let you go.
Where to find such cafes? Well, lucky Singaporeans, for example, can go to the сafe Ducatus, that accepts no cash, only credit card and cryptocurrencies. The cafe also provides a cryptocurrency ATM, where clients can make cash-to-Bitcoin deposits.
There are restaurants that accept Bitcoin in other countries as well. For example, you can check the list of the US cafes that accept Bitcoin.
A search of coffee shops where you can pay with Bitcoin is time-consuming and performing the transaction may be quite challenging, but you get to use cryptocurrency directly and that’s great!
I give this method 4 out of 5 stars.
Buy a Starbucks Gift Card with Bitcoin Cash
You can buy a Starbucks gift card with Bitcoin Cash. Then use it in a coffee-shop and you will get your cherished latte in a Siren logo cup. Just be careful when using the internet there—Starbucks is so cryptocurrency-friendly, that you will start mining coins without even noticing it! Seriously, there were incidents when their network was hacked and visitors smartphones connected to the Wi-Fi were used to mine Bitcoin. Representatives of the company announced that this issue was successfully resolved, but you know what they say: better safe than sorry.
Like many others, this method is unsuitable if you want coffee right here, right now. Also, such gift cards are available only for Starbucks and only in the US, so this method doesn’t apply to people who don’t like this coffee-shop (yes, we do exist) and want to buy coffee at another place.
I give this method 3 out of 5 stars.
Trade Bitcoin for fiat money
Another way is to convert Bitcoin into fiat money, and then pay with cash in any coffee shop. The most interesting part in this method is converting. Many people wonder how to sell Bitcoin. Basically, there are two options:
Choose a fiat-friendly exchange that offers the option of cashing out. Create an account and shift some Bitcoin there. Enter the amount of fiat you want to get, then the system will automatically calculate the number of Bitcoin it will cost. Place the orders. When the market allows the purchase of your coins, the funds will become available in your account. Now you can withdraw that funds into the linked financial account. Transactions on such exchanges may be processed for quite a long time, so you will have to wait until you get so desired cup of coffee.
Use services that create a marketplace, where people who want to sell Bitcoin and those who want to buy it can find each other. If a buyer and a seller, that were destined to meet, have found each other and agreed on conditions that satisfy both, they decide what payment method to choose. They can meet in person and perform a transaction, use Western Union or any other way of sending money. But using P2P marketplaces is quite dangerous, as no one controls how the operation is going on and whether all conditions are met. There were incidents when thieves bought Bitcoins, sending money with a credit card, and then just canceled the transaction, getting both the money and Bitcoins. What is even worse, some sellers were robbed, when they came to the personal meeting with the buyer: they were threatened with a gun and forced to send Bitcoins.
Also, this way you don’t pay with Bitcoin directly—when you are actually buying coffee, you use fiat. That’s why I give this method 2 stars out of 5.
Use a special card
There is another great way to buy coffee with Bitcoin. You don’t have to move to the country where Bitcoin cafes exist. You don’t have to wait until the Starbucks gift card will finally arrive. There is no time-consuming cash out of Bitcoin using exchanges. Are you ready to hear what is it?
A card. Yes, it’s that easy. A special card that is loaded with the digital currency. When you purchase something, the card instantly converts coins into fiat money. You can use it wherever a usual Visa or Mastercard are accepted (pretty much everywhere). Shopping with Bitcoin is not a challenge anymore, you can pay for whatever you want. Such cards will be available at the beginning of this summer thanks to Bonpay. You can make pre-order right now to get such card one of the first.
Paying for coffee with Bitcoin using a Bonpay Card is simple, quick and convenient, so it certainly gets 5 stars out of 5.
Why bother paying with Bitcoin?
Many will ask what is the point of paying for coffee with Bitcoin. After all, for them it’s an investment, not a currency! And they would be kind of right. And kind of wrong.
Imagine being stuck on another planet surrounded by aliens. Would your dollars have any value there? I doubt so. And it’s the same concept with Bitcoin.
See, any asset has value only when you can actually use it. Buying something for cryptocurrency proves that it is a real payment method. Using Bitcoin in real life is a crucial step on the way of its global acceptance. It is a proof of Bitcoin’s value. Also even buying a cup of latte with Bitcoin will give you a whole range of emotions. You will understand that the future is already here and get one hell of a kick out of it!