A burger stand in Brick Lane, London is one of the first UK firms to start accepting cryptocurrency.
BIT Bourbon Steam Burgers owners Oliver Rynkiewicz and Thais Muller opened the stand in January, and have since started accepting payments in the Dogecoin (DOGE) and Bitcoin (BTC) virtual currencies for their bourbon-steamed burgers.
“Bitcoin was worth shit at start, it was worth nothing,” Rynkiewicz told The Guardian.
“Now it’s worth, what, $500 or $600?”
“I was like, alright, Bitcoin could jump so high, why not Dogecoin? And anyway, people have this stuff – Bitcoins, Dogecoins – but there’s not many places to use them.”
Cryptocurrency customers can pay using the Android app Dogewallet, or through the use of a browser-based digital wallet on iOS.
The paying customer scans a QR code for Rynkiewicz’s Dogewallet address and instantly transfers the money.
So far over 100,000 DOGE (£60) has been exchanged, but only one sale has been made in Bitcoin. Rynkiewicz said that the difference in popularity was likely due to Bitcoin’s fluctuating value.
“Bitcoin is jumping so high all the time,” he explained.
“Now if the price is 500 you’re going to buy something, a burger or something else, and you get home and find it’s worth £100 more, two times, three times more.”
“Bitcoin is more like investment, more for greedy people. Dogecoin’s about fun.”