Big
companies around the world have started warming up to Bitcoin
and now smaller entrepreneurs are incorporating the virtual
currency into their businesses.
The Hester Street
Fair is a meeting place for collectors, artists, and
entrepreneurs that takes place in NYC’s Lower East Side. Starting
on June 15, it will be hosting the NYC Bitcoin Fair, where
you can find “tech enthusiasts, innovative Bitcoin companies,
meetups, trading and thirty plus small businesses selling artisan
quality goods & food for Bitcoin.”
The fair will take place every Sunday until October 26. Suhyun
Pak, who is the creator of the NYC Bitcoin Fair and a co-organizer
of the Hester Street Fair, told Coindesk:
“The fair is the perfect environment for the use of bitcoin. The
small businesses that vend at Hester Street Fair are very
entrepreneurial and flexible and willing to try new things out.
They aren’t burdened by having to go up a chain of command for
permissions to try things. They are also excited to be at the
forefront of this new technology.”
On the West Coast, several restaurants in San Francisco have
started accepting Bitcoin. Most of them use Bitpay, which is the oldest Bitcoin
payment system and can be used for a 1 percent transaction fee.
Curry Up Now is one of the restaurants in San Francisco that has
been accepting Bitcoin for a few months. Darrel Oribello, regional
manager of one of Curry Up Now’s locations in San Francisco, told
the Inside Scoop SF last week:
“My initial reservation was that it wouldn’t be popular or that
it would hold up the line. It has been a smooth process, though.
There is no difference between when someone is paying with bitcoin
or credit cards.”
A third-party like Bitpay is not necesarry though, and
individuals can easily send Bitcoins to one another for no
transaction fee at all. In the U.K.,
one innkeeper is only accepting rent payments in either Bitcoin
or Litecoin.
Businesses on both a large and small scale have started taking
advantage of the many benefits of digital currencies like Bitcoin.
Let’s hope this trend perpetuates itself as Bitcoin’s value
continues to rise.
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