Essential Insights
- By 2025, you can prepare your digital wallet to make purchases with Bitcoin at 15,000 merchants and dining establishments worldwide.
- Whether utilizing your personal Bitcoin wallet for direct payments or making purchases through card services, there are numerous options available for buying food using Bitcoin.
- Since the first food buy by Laszlo Hanyecz, Bitcoin has transformed significantly, leading to new payment systems that allow innovative uses for purchasing food.
- Global recognition has grown for Bitcoin payment processors like Bitrefill and BitPay, which manage thousands of monthly transactions.
As Bitcoin’s acceptance increases around the globe, more retailers, restaurants, and food delivery services are adopting it, allowing patrons to settle their food bills using Bitcoin (BTC).
You can still enjoy your meals with Bitcoin, even if certain merchants don’t accept it directly. You can employ tools like crypto cards or gift cards for your purchases.
Bitcoin is not only a reliable store of value but also has broader potential. As the world steadily moves towards decentralization, Bitcoin is increasingly positioned to disrupt traditional payment systems that rely on intermediary approval. Essentially, Bitcoin was designed to bypass banks and financial institutions to enable direct transactions free from censorship or confiscation.
The originator of Bitcoin, Satoshi Nakamoto, developed a peer-to-peer electronic cash system to promote independence from financial intermediaries. So, it makes sense to start applying the cryptocurrency in the way it was intended.
This guide will illustrate how to spend Bitcoin on food, detailing different approaches for grocery stores, restaurants, and food retailers, both in-person and online.
Fun Fact: The inaugural Bitcoin transaction for food was completed by Laszlo Hanyecz on May 22, 2010, now famously celebrated as Bitcoin Pizza Day. He spent 10,000 BTC for two pizzas that would have cost $40 at that time.
Is it possible to purchase food with Bitcoin?
The brief answer is yes, absolutely. Your options might vary based on your country.
The advantage of using Bitcoin for your food purchases directly is circumventing intermediaries and higher costs associated with traditional transactions, remaining true to Satoshi’s vision.
While many merchants still do not accept BTC, Bitcoin cards, gift cards, and food delivery services that accommodate Bitcoin, either directly or indirectly, are widely accessible.
The process is simple: load your card with cryptocurrency, and the payment processor will seamlessly convert Bitcoin into local currency at the point of sale.
1. Direct Payments for Food Using Bitcoin
Although the number of businesses accepting Bitcoin continues to grow, very few fully embrace the cryptocurrency as a payment method. When Bitcoin is accepted, transactions typically use a Lightning wallet for quick payments and minimal fees.
You can explore to locate Bitcoin-friendly dining establishments globally. Just select your area to discover where you can use the digital currency.
In various jurisdictions, fast-food chains such as Burger King and Subway accept Bitcoin. McDonald’s has fully embraced BTC as a payment option in El Salvador and is piloting it in Lugano, Switzerland.
Specific restaurants also accept Bitcoin directly, including select Mastro’s locations in the US and Tahini’s, a Canadian-Middle Eastern establishment with some presence in the US, which even holds Bitcoin as an asset reserve.
Accepting Bitcoin for online orders is less common unless the merchant collaborates with a delivery service that supports it. In the US, food delivery companies like Manufy directly accept Bitcoin for orders.
Many Bitcoin-friendly grocery stores enable buying groceries directly with crypto. Whole Foods locations in the UK, US, and Canada accept BTC through the Flexa network’s Spedn app in certain areas. In South Africa, Pick n Pay has implemented Bitcoin payments across many of its stores after a successful trial.
El Salvador has rightfully earned its status as a Bitcoin nation, with restaurants, grocery stores, and online retailers generally allowing direct Bitcoin transactions.
Numerous small towns are adopting Bitcoin as a widely used currency. Apart from El Salvador, locations like Lugano in Switzerland and Mossel Bay in South Africa see many small retailers accepting Bitcoin as an authentic payment method.
How to Make Direct Payments with Bitcoin
- Download a custodial or non-custodial Lightning wallet on your smartphone.
- Transfer some Bitcoin to it to cover daily expenses.
- Position your wallet to scan merchant QR codes.
- Complete your transaction in just a matter of seconds.
Fun Fact: Subway was the first major fast-food chain to embrace Bitcoin, with its inaugural Bitcoin purchase occurring in 2013 in Moscow, Russia.
2. Bitcoin Cards: A Different Way to Pay for Food
Numerous services provide Bitcoin-funded debit cards that convert Bitcoin into fiat currency at the point of sale. Well-known providers include BitPay, Wirex, and Binance. They enable Bitcoin and crypto payments at grocery retailers like Walmart and can also exchange cryptocurrency for various local currencies.
The advantage of Bitcoin cards lies in their instantaneous fiat conversion, eliminating the need for stores to accept Bitcoin directly. These crypto card providers partner with networks like Visa and Mastercard to ensure their cards are widely accepted.
How to Use Bitcoin Cards for Payments
- Register with one of the available crypto card services.
- Link your Bitcoin wallet to your account.
- Load funds onto the card.
- Use the card at participating merchants by swiping it like you would any standard card.
- Connect the card to your Apple or Google Pay for direct mobile payments.
Using Bitcoin Gift Cards for Food Purchases
Bitcoin gift cards are vouchers that can be purchased to order food from popular delivery services such as Uber Eats, DoorDash, or Grubhub. Platforms like BitPay, CoinGate, and Bitrefill allow you to order food online using Bitcoin.
These gift cards are also a popular option for grocery shopping at stores like Walmart, Whole Foods, Safeway, and Lidl. They can be redeemed for both in-store and online purchases, including pick-up or delivery.
How to Use Bitcoin Gift Cards
- Purchase the gift card with Bitcoin at designated stores or platforms.
- Receive the digital gift card.
- Select the merchant where you want to use the gift card.
- Complete your purchase at checkout using the gift card.
Utilizing Bitcoin gift cards is one of the most widely accessible options, particularly useful when the chosen restaurant or merchant has yet to accept crypto directly.
Precautions When Using Bitcoin for Food Payments
While Bitcoin provides a convenient and decentralized way to pay, it’s important to take specific precautions to ensure safe and seamless transactions:
- Wallet Security: Always use a reliable and secure Bitcoin wallet, whether custodial or non-custodial, to keep your cryptocurrency safe. Protect your wallet’s private keys from unauthorized access.
- Transaction Fees: Although Bitcoin transactions are generally cheaper than traditional payment methods, fees can still apply, especially when using the Lightning Network for rapid payments. Keep yourself informed about the fees associated with each payment method.
- Merchant Credibility: Verify that the restaurant or vendor you are purchasing from is reputable and accepts Bitcoin via trusted payment processors. Steer clear of unknown or unverified third-party services.
- Bitcoin Volatility: Be aware that Bitcoin’s value can fluctuate quickly, so be prepared for potential price changes from when you make the payment to when the merchant processes it. This is particularly relevant when converting Bitcoin into local fiat currencies.
- Regulatory Environment and Acceptance: Different regions may have various regulations regarding Bitcoin payments. Make sure to understand local laws regarding cryptocurrency and whether merchants in your vicinity are legally authorized to accept Bitcoin.
Always remember that protecting your assets is as crucial as how you utilize them. Taking precautions now can help ensure your funds remain secure as you enjoy the ease of using Bitcoin for payments.