The phenomenon of cryptocurrency enters our lives in the year 2008. While it wasn’t a big hit at the time and people didn’t regard cryptocurrency as real money, nowadays the cryptocurrency market is quite popular and quite impactful in the daily lives of people. In 2009, Bitcoin’s first price was $0. Back in the day, people didn’t understand the phenomenon of cryptocurrency and didn’t want to invest their money in something so suspicious and so abstract. Even though Bitcoin is on the decline nowadays, the price of Bitcoin reached as high as $68.000. While some prudent people became billionaires and are still active in the cryptocurrency market, some people came from behind and tries to participate. Nonetheless, people are not interested in Bitcoin merely for investment, they also accept it in places like Burger King.
Due to the pressure that stems from the constant race in the cryptocurrency market, almost all big businesses accept cryptocurrency as they receive payments. One of these businesses was Burger King. Approximately 40 franchises of Burger King started to accept cryptocurrencies like Bitcoin in 2020. As a matter of fact, the very first payments with cryptocurrency were made in a franchise in the Netherlands in the year 2016. However, due to the fluctuating nature of the cryptocurrency market, most of the branches of Burger King ended their policy of receiving payments via cryptocurrencies like Bitcoin.
Which Burger King Franchises Still Accept Bitcoin?
Most Burger King franchises in Germany still accept Bitcoin as payment. Nevertheless, don’t expect to walk into the store and try to make your payment there. You need to use a company called Lieferservice to be able to make your payment via Bitcoin. In addition to that, in order to pay with Bitcoin and use the Lieferservice, you need to order online. While you cannot merely walk into the store and make your purchase with Bitcoin in Germany, you can do it in Venezuela. Burger King in Venezuela aims to increase the number of its branches to make the payment with Bitcoin more common than usual. For the time being, only some of the branches of Burger King in Germany and Venezuela seem to be accepting Bitcoin as payment.
Burger King Crypto Program
Even though they stopped receiving payments via Bitcoin and other cryptocurrencies before 2021, Burger King launched a program to give out three particular cryptocurrencies to their loyal customer; Dogecoin, Ethereum, and Bitcoin. In 2021, Burger King offered a promotion to their loyal customers under the name of the Burger King Crypto Program. Among the currencies that lucky customers would get there are two million Dogecoin, 200 Ethereum, and 20 Bitcoin. After participating in it, you would get a 6-digit code which was called MyCode and for the rest, all you needed to do was to use your code when you pay for an item for at least $5. They collaborated with Robinhood App when they launched this program and the participant needed to do all the processes in this particular app. This particular program has contributed to the flow of Burger King’s own currency which was called Crown. Thus, in a sense, Burger King tried to have full control over the customer’s desire to pay via different currencies by implementing their own currencies.
The Fate of Cryptocurrencies as Payments
Our line of vision toward the future of cryptocurrencies is as fluctuating as the cryptocurrency market. With the explosion of the popularity of NFTs and the notion of the Metaverse, it is safe to say that cryptocurrency will not be out of our lives. As Bitcoin started to gain popularity and left other cryptocurrencies behind, investors gravitated towards less popular cryptocurrencies than Bitcoin and eventually made them popular as well. Companies that didn’t want to fall behind in this mad rush tried to educate people about cryptocurrency and started receiving payments via these currencies. Not all companies could bear the inconsistencies and the obscurities that dwell on the future of these cryptocurrencies. Nevertheless, a number of companies remain in the market with complete faith in the gainings from the distant future.
Conclusion:
All in all, the constant rise and fall of the cryptocurrency market limited the prevalence of cryptocurrencies, resulting in the shortness of Burger King’s journey of receiving payments via Bitcoin and such currencies. In spite of the fluctuating cryptocurrency market, a number of Burger King branches in Germany and Venezuela continue to receive payments via Bitcoins and other cryptocurrencies. The rising recognition of the existence of the Metaverse and Blockchain offers a future where cryptocurrencies could be replaced by all the other monetary units. Even though the majority of the branches of Burger King ended their cryptocurrency policies, Burger King aimed to popularize their currencies called Crowns. This specific program which was their collaboration with Robinhood App is also a potentiality that Burger King might return their policy of cryptocurrencies.
