Cryptocurrency is slowly but surely becoming more mainstream in the world we live in. It was only a couple of years ago when most people had no idea what cryptocurrency is. However, things have changed a lot since then. More publicity in the media about Bitcoin and some of the other less popular cryptocurrencies has helped people to learn more about what they have to offer. Now it seems like cryptocurrency is about to take one more huge step towards being embraced by the general public. Starbucks has recently announced that they will soon be accepting Bitcoin as payment.
There have been other companies that have been accepting Bitcoin for a while now. However, they were not large companies that are worth billions of dollars like Starbucks. This is by far the largest company to date to embrace Bitcoin as a form of payment. It will be interesting to see how many customers take advantage of this payment option. There are many other large chains that have hinted about getting involved with Bitcoin as a payment method. However, none have done it until Starbucks. Many of these large companies were most likely nervous about going into uncharted waters where cryptocurrency is concerned. Therefore, they wanted to wait for another huge company to do it so they can learn from their mistakes.
There is no question that the amount of Bitcoin transactions at Starbucks will be small at first. However, the amount of people who buy coffee at Starbucks will only serve to raise the public awareness of Bitcoin. This will most likely encourage some Starbucks customers to find out more about Bitcoin and start using it in the future. It all depends on how much marketing that Starbucks decides to put behind their new Bitcoin venture.
Starbucks are located in many countries around the world. However, the experience of paying for your coffee at Starbucks with Bitcoin will be limited to the United States at first. The company wants to see how it goes before they decide if and when Bitcoin payments will be rolled out in other countries. Starbucks will use new software to convert all Bitcoin transactions into U.S. dollars when a customer chooses to pay by this method. They will use a special card that can be swiped at the register. Starbucks might be opening the door to a Bitcoin revolution. Only time will tell if that happens.
