40 Burger King Stores in Venezuela’s to Accept Bitcoin (BTC) Payments

Burger King establishes a new partnership which brings Bitcoin (BTC) on board of the chain of fast-food restaurants.

On December 30 Cryptobuyer tweeted that Burger King stores in the Sambil area of Caracas now accept payments in Bitcoin as well as in several other cryptocurrencies, including Dash, Litecoin (LTC), Ethereum (ETH), Binance Coin and Tether.

Crypto hype in BK is on the way

Dash executives have posted the news in their blog, stating that 40 locations will join the trend in 2020.

Cryptobuyer is a digital asset platform, which operates from Panama. It provides a Point-of-Sale system, operating a bunch of ATM’s, and allows immediate conversion from crypto to fiat.

The company has also tweeted that they are pleased to announce their commercial alliance with Burger King.

Severe crisis continues to rage in Venezuela’s economy, as cryptocurrency gradually penetrates everyday life of country’s citizens. The authorities blocked borderless payment, heavily restricting foreign currency influx.

In an attempt to stymie the crisis Venezuela bids on Petro, its highly disputed cryptocurrency. Now it is the only currency which can be used to pay for several essential services, such as passports.

Success or dog’s breakfast: what are the chances?

In the meantime Burger King Venezuela has stopped to talk about its adoption of crypto. The idea that coins such as Dash are becoming more and more popular among Venezuelans, has been taken with a pinch of salt in recent years.

Some commentators stated that, in spite of the claims made by Ryan Taylor, former CEO of Dash Core Group regarding the altcoin as the most widely used in the country, the amount of cryptocurrency running is low.

When considering the peaks which Bitcoin regularly broke when being traded in Venezuela’s Sovereign Bolivar, they signal the weakness of the national currency, rather than Bitcoin adoption.

Burger King also tried to experiment with Bitcoin in Russia and Europe, but all the efforts failed. Russian branch of the company also tried to introduce a loyalty scheme named ”Whoppercoin”, which attracted attention of Moscow prosecutor.