The Old Fitzroy will become the first pub in Australia that will allow customers to buy their beers in Bitcoin.

The pub in Woolloomooloo, Sydney, will start accepting Bitcoin as a form of payment on September 29, with Bitcoin Sydney on hand to help new-timers to the crypto-currency.

The pub, which has been around since at least 1907, will use QR codes to handle transactions. With Bitcoin wallets able to be accessed via smartphones, customers simply scan the QR code and authorise the transaction in order to pay.

Beers should cost customers around 0.05 Bitcoins, around the equivalent of AU$7 at the current value of the currency.

"I am interested in Bitcoin because it is progressive," Fitzroy proprietor Garry Pasfield said in a statement.

"I know a lot of people will like the opportunity to steer away from the big banks, and [Bitcoin] will have a lot of legs if it can establish itself."

Bitcoin Sydney will also be at the event to assist customers in making transactions and provide an introduction and overview to the currency, as well as help those new to Bitcoin purchase their first coin.