food

How to buy food with Bitcoin?

Users can pay bills with cryptocurrency directly from their crypto wallet or using a payment processor acting as an online crypto payment gateway.

Bitcoin (BTC) is a dynamic monetary asset with the potential of being both — a commodity and a currency. For instance, the Securities and Exchange Commission (SEC) classified BTC as a commodity, whereas El Salvador made Bitcoin a legal tender in 2021. 

So, does this make BTC a store of value or a medium of exchange? It can do both — On one hand, BTC can be added to treasuries as an inflationary hedge. On the other hand, it could also serve the retail purpose of paying for routine expenses. 

Almost over a decade ago, the first person to utilize Bitcoin for a business transaction was Laszlo Hanyecz, who spent 10,000 BTC on two pizzas, or as the crypto community addresses it, the Bitcoin pizza. However, that is not the amount of BTC anyone needs to actually buy food in the real world now. Why? Because customers have realized to only pay the amount for which the product is worth, not more or less. 

This article will discuss different ways by which one can buy food using Bitcoin. From crypto debit cards and gift cards to crypto food delivery portals, this article will lay down all possible options to efficiently use cryptocurrency for grabbing a meal. 

Various ways to buy food using cryptocurrency

There are a few ways to buy food with Bitcoin, depending on the user’s needs and interests. Following this, these are the three most common ways to use cryptocurrency for daily expenses like food:

Crypto cards

Crypto cards are like regular debit or credit cards, but crypto cards let the customer use their crypto to make payments. They essentially deduct crypto from the user’s wallet and transfer fiat at the merchant’s end. 

It helps users pay their routine bills through crypto without the complexities of finding outlets that accept crypto payments. Moreover, nowadays, numerous crypto card companies offer mobile apps that make it easy for the customer to spend Bitcoin anywhere. 

Crypto gift cards

Customers may purchase gift cards for several food and delivery services using cryptocurrencies. They can then redeem said gift cards to pay for their meals in digital currencies. Crypto gift cards facilitate the sale and purchase of items from participating merchants to customers using cryptocurrency. There are a number of companies that offer gift cards, so it’s easy to find one that fits user needs.

Crypto food delivery portals

Crypto food delivery sites are connected to many food and beverage outlets across various regions. It is like a website or application for ordering food from nearby restaurants and paying the platform via crypto instead of paying the food vendor. 

How to buy food using a crypto card?

Crypto cards allow Bitcoin transactions on various items in the physical world. However, in order to spend BTC via a crypto card for daily needs like food, consumers need to follow certain steps:

  • The first step is to set up a digital wallet, along with a merchant account. Given there are several crypto cards available in the market. Hence, it is ideal to research the options and choose one that meets the respective user’s needs and budget.
  • Sign up by downloading the app and completing the Know Your Customer (KYC) requirements. Registering for the card and creating an account with the provider will allow the user to efficiently access their funds and make purchases online or in-store.
  • Users may set up a spending limit along with scheduling regular deposits into their accounts. 

Almost all crypto cards allow customers to instantly convert crypto to fiat. Nevertheless, how to choose a crypto card that suits an individual’s goals? While some customers may prefer cash-back rewards, others may gravitate toward yielding services. 

Many cards are suitable for regular shoppers since they work as purchase reward cards that allow users to earn money back on purchases. Following this, some cards also allow users to earn interest on crypto held in the account. 

Furthermore, while accessing the utility of a crypto card, make sure to check for multi-coin support. The crypto card should ideally support several cryptocurrencies, such as BTC, Ether (ETH) and Litecoin (LTC), among others. 

Companies offering crypto credit cards include BlockFi and Gemini. However, more companies offer crypto debit cards, such as Coinbase, Crypto.com, BlockCard, Binance Visa Card and BitPay. 

How to buy food using a crypto gift card?

Crypto gift cards are loaded with digital funds that can be used at any participating restaurant or retail store. They’re straightforward to use and provide a way for customers to spend their cryptocurrencies in a convenient manner. Here are some steps on how to get started: 

Steps to buy food with a crypto gift card

Brands like Amazon and Walmart don’t accept Bitcoin directly, but they do accept crypto gift card services. Following this, to directly pay for food in BTC using a crypto gift card, users may use Bitrefill. It is a website that offers gift cards, prepaid mobile refills and Bitcoin Lightning Network services for over 1600 products in 170 countries.

How to use crypto food delivery portals?

Crypto food delivery portals are not drastically different from using crypto gift cards. Both connect the user to merchants that accommodate the use of crypto services for payments. Following this, the steps are also fairly similar — choosing a platform, signing up and loading the wallet with funds.

Furthermore, customers have different options for using a crypto-delivery portal to buy food. From simply buying food with cryptocurrency to purchasing groceries on credit and then paying off those purchases with cryptocurrency, both make crypto delivery portals convenient for making crypto payments. 

Platforms that allow users to order food directly from restaurants and then pay for it in cryptocurrency, like Hungry? in the United Kingdom, Sprigz in the United States, BiteMyCoin in Australia and Eats24/7 in Canada, can be an alternative way of ordering food using cryptocurrencies.

Should you buy food with crypto?

There is no black-and-white answer to whether or not users should choose crypto payments to buy food. However, there are both benefits and drawbacks to using cryptocurrency for food purchases.

On the plus side, cryptocurrency transactions are generally quick and straightforward. Following this, given that cryptocurrency transactions are recorded on the blockchain, it makes the process of tracing the history of transactions efficient. Furthermore, crypto payments directly connect the customer to the merchant, eliminating the need for intermediaries such as banks.

On the flip side, crypto payments pose a threat of monetary loss via hacks. Additionally, the digital asset class is also highly volatile, which may cause difficulty in pursuing daily transactions. So users must do their research before using cryptocurrency as a medium of exchange for daily expenses. 

Food companies secure trademarks to enter metaverse

Major food brands seem to be indicating that they plan to launch virtual food, drink and restaurant services in the future.

A number of food companies have recently begun to position themselves within the Web3 ecosystem by filing trademark applications for the Metaverse and nonfungible tokens (NFTs). 

Licensed trademark attorney Mike Kondoudis shared in a tweet that Kraft Foods Group had filed a trademark for its iconic hot dog-shaped Weinermobile on Oct. 12. The filing revealed that the brand plans to expand into NFTs, digital tokens, virtual goods, NFT marketplaces, virtual food, drink and restaurants.

The trademark application suggested that Kraft Foods Group also has plans to operate a virtual restaurant, as well as feature virtual goods for home delivery in both real and virtual worlds.

On Oct. 6, the popular food brand and fast food chain, In-N-Out Burger filed a similar trademark application with plans to operate an online retail store featuring virtual goods; namely, food, beverages and merchandise associated with the brand for use in online virtual worlds.

According to the trademark application, In-N-Out Burger plans to provide, “temporary use of online non-downloadable software for users to access, transmit, exchange and establish ownership of virtual goods, blockchain tokens, nonfungible tokens, digital media, digital files, and digital assets in the field of food, beverages, restaurants, and merchandise.”

Related: McDonald’s starts to accept Bitcoin and Tether in Swiss town

On Oct. 10, Mike Kondoudis also reported that Del Monte Foods had filed eight trademark applications for its underlying brands “Del Monte” and “The Del Monte Sheild,” with plans to create NFTs, NFT-backed media, online virtual marketplaces, virtual restaurants, stores, foods and drinks.

The trademark application also disclosed that Del Monte Foods intends to expand into the Web3 software space. According to the application, the brand will produce “software for uploading, transmitting, publishing, storing, managing, verifying, authenticating, and communicating digital currency, crypto-collectibles, digital tokens, digital files, images, sound recordings, video recordings, virtual objects, and virtual products and services.”

In September, Cointelegraph reported that the number of U.S. trademarks filed related to cryptocurrencies, nonfungible tokens (NFTs), Web3 and the Metaverse has grown exponentially within the past year.

Canadian taco franchise uses NFTs for customer loyalty program

A Canadian restaurant franchise is putting their customer loyalty program on the blockchain through a new Tenacious Tacos NFT collection.

With 19 locations across Canada and a plan for expansion into the United States, this $6 million taco franchise wants to capitalize on their growing customer base.

The collection, Tenacious Tacos, allows holders to receive both Web3 and real benefits. Moreover, for those who wish, they can stake their nonfungible tokens (NFTs) to earn additional digital rewards.

According to the official statement, staked Tenacious Tacos can be redeemed for rewards such as the chance to win a lifetime of free food or monthly payouts in ETH/WETH.

Previously Landry’s restaurant group, which includes Bubba Gump Shrimp Factory and Rainforest Cafe, introduced a Bitcoin loyalty program. However, in that instance, customers were able to earn rewards in Bitcoin (BTC), such as $25 worth of Bitcoin for every $250 spent at one of many restaurants in the brand.

StrEAT’s method simultaneously adds additional value to traditional loyalty programs and utility to NFTs.

A Canadian-based restaurant franchise is adding more utility to the growing number of NFT use cases. The StrEATS franchise plans to utilize NFTs in their new customer loyalty program. 

Related: NFT utility to remedy ticketing dilemmas? Experts weigh in

Joe Klassen, CEO of Joeys Group of Restaurants and founder of the Tenacious Tacos NFT project, highlighted the importance of their community: “The vision with this project is to become closer with the community while simultaneously creating the opportunity for them to share in our growing success.”

The loyalty program’s real-life NFT benefits include 20% off at all StrEATS locations, VIP event access and voting rights on new menu features.

In June of this year, the major burrito and taco chain Chipotle introduced cryptocurrency payments at nearly 3,000 locations across the U.S. Last month, the chain also announced a crypto giveaway to customers through a digital game.

Chipotle takes ‘buy the dip’ literally with new $200K crypto giveaway

The restaurant chain will give away Bitcoin, Ether, Solana, Avalanche and Dogecoin through an online game.

United States-based fast casual restaurant chain Chipotle has started an online game which will give customers the chance to win more than $200,000 in crypto.

In a Monday announcement, Chipotle said that, through July 31, fans would be able to play its “Buy The Dip” game using their rewards accounts. The company will give away $45,000 in Bitcoin (BTC), $10,000 in Ether (ETH), $13,750 in Solana (SOL), $14,250 in Avalanche (AVAX) and $14,250 in Dogecoin (DOGE) via the game.

“We want to build the next generation of Chipotle fandom by connecting with the Web3 community,” said Chipotle chief marketing officer Chris Brandt.

The restaurant chain gave away $100,000 in BTC in April 2021 as part of a promotion for National Burrito Day. In June, Chipotle announced its roughly 3,000 restaurants in the United States would accept 98 cryptocurrencies as payment through digital payment provider Flexa.

Other major fast food chains in the U.S. have organized similar crypto giveaways as the space grew. In November 2021, Burger King partnered with Robinhood to give away BTC, ETH and DOGE as part of customers’ purchases. McDonalds’ China arm started a campaign for customers to win 188 nonfungible tokens in celebration of its 31st anniversary, while its U.S. operations later filed multiple trademark applications suggesting an entry into the Metaverse.

Related: How can the Metaverse help the food industry?

Many users have been buying dips in the price of Bitcoin following significant volatility in the entire crypto market. Chipotle said it would give prizes based on the exchange rate on the day of the award rather than at the end of the campaign. ProShares, on the other hand, recently began offering investment vehicles with exposure to shorting BTC amid many reports a crypto winter had arrived.

Bear market delivery! Bitcoiner rejoins DoorDash to buy more BTC

A software developer from Ohio is taking on extra work at DoorDash to grow his stack of Bitcoin.

What did you do in the 2022 bear market, anon? For one Bitcoiner, the opportunity to take on a second job to “stack sats” (buy more Bitcoin (BTC)), was too great. Isaiah, the founder of the Cleveland Bitcoin Meetup, is delivering food to Ohio residents to earn cash on the side.

Isaiah told Cointelegraph “I joined DoorDash 2 years ago. But I only recently started doing it again once the price fell into the 20[K]s.” DoorDash is an American food delivery service (similar to Glovo or Deliveroo), where riders pick up food from restaurants to take to people’s homes. 

Isaiah “originally joined DoorDash to make extra side hustle money,” but he’s now making roughly “36,000 sats per order” ($7) as per this tweet:

For Isaiah, who knows a thing or two about being underwater, thanks to training as an open water diver— the “price levels are too great not to stack more.” Driving for DoorDash compliments his full-time job as a software developer to save more in Bitcoin. He told Cointelegraph:

“When Bitcoin is back above the 200 weeks, I’ll likely stop door dashing and continue stacking Bitcoin with my regular day job. Doordash is just extra sat stacking money for me.”

The price of Bitcoin has languished under the 200-week moving average and the $20,000 price level for weeks.

The Bitcoin price is under the 200wSMA (blue line) and has been since the 13th June. Source: Trading View 

He shares the same view as former congressman Ron Paul, that “Bitcoin is money,” and thanks to its deflationary supply schedule, it’s also a savings technology. Natalie Brunell, the host of Hard Money, shares the same view; Bitcoin can preserve time and wealth: 

“Bitcoin is my money. It’s what I save in (and occasionally spend). Being able to store the value of my labor outside the control of any corporation or government is incredible.”

Related: Trader puts faith in crypto despite the failed first investment

As for beating those bear market blues, Isaiah organizes and attends the monthly Bitcoin meetup in Ohio while sharing Bitcoin-related advice for readers:

“For all the people getting caught up in the price. Focus on your Bitcoin stack instead of the fiat price. Seeing the amount of sats you own go up will help keep your mental health better during these rough times.”

Looking after mental health is particularly pertinent. Despite Jim Cramer, who lashed out by saying that crypto has “no value,” here is a Bitcoin meetup held at a wildlife park.

The business of a Bitcoin standard: Profit, people and passion for good food

Here’s how the co-founder of a Middle Eastern restaurant convinced his colleagues to upgrade their franchise to a Bitcoin standard.

The Canadian restaurant franchise Tahini’s serves Middle East-inspired food with a Bitcoin-inspired twist. 

Since August 2020, when the price of Bitcoin (BTC) was under $20,000, the group has operated on a Bitcoin standard, with any profits it makes swept into BTC.

The Tahini’s Twitter account has since argued that Bitcoin is the “most Islamic” thing Muslims can do with their wealth, and the group educates its customers on sound money. It has even become a niche bear market meme, with Michael Saylor famously saying he might apply to work night shifts at Tahini’s during January’s price correction:

Cointelegraph spoke with Ali Hamam, co-founder and chief marketing officer of Tahini’s, to understand the whys, hows and unintended consequences of operating under a Bitcoin standard. Hamam was the driving force of the Bitcoin adoption in the Middle Eastern chain.

Hamam (top left) and the Bitcoin ATMs in Tahini’s franchises. Source: Twitter

Hamam first learned of Bitcoin in 2016 or 2017 but discarded the innovation as a Ponzi scheme, or “rat poison,” as he was dissuaded by its negative press. It took the COVID-19 pandemic and its real-world consequences for Hamam’s Bitcoin lightbulb moment to take place.

“In March of 2020, we got hit with the lockdowns and the fear. Our sales at the restaurants dropped like 70% in a week. And yet, there was more money flowing around with our employees, our fellow Canadians. Everybody just had more money.”

Inspired by the writings of Robert Breedlove — a Bitcoin influencer and entrepreneur — sound money in the form of BTC dawned on him. Hamam said that he and his company needed to find a better way to store value. “Money is going to be worthless,” he said.

“It sort of clicked for me that this is a once-in-a-multigeneration type of breakthrough and invention. The idea of absolute fixed money is something that we’ve never seen in history.”

Hamam was hooked. He went all in, devouring Bitcoin-focused books, podcasts and, in some cases, not sleeping as he educated himself and fell deeper down the rabbit hole.

“It grew into a way of life where it’s like, okay, this is something that I should be integrating with every single aspect of my life, from my kids’ education funds to my business.”

Armed with freshly acquired knowledge, Hamam met with his business partners at Tahini’s to pitch the idea of running the business on a Bitcoin standard. The argument behind having the “Bitcoin standard” — a term popularized by Saifedean Ammous, author of the eponymous book, The Bitcoin Standard — is that not Bitcoin is not just a better reserve currency than the U.S. dollar, it’s actually a superior currency.

The author of “The Bitcoin Standard,” Saifedean Ammous (left), dines with Hamam. Source: Twitter

Consequently, the business should carve out a route with profits in Bitcoin in mind. For Tahini’s, that means keeping a working capital of roughly six months of expenses on hand. According to Haman:

“Anything beyond that number is considered treasury, and we sweep into Bitcoin. So, some months we will buy a little bit more aggressively — when the price is down — and then the months after that, we will slow down a little bit. But we kind of have depending on how much the company makes.”

To the doubters, Hamam said, “We always try to manage it in a way where we never have to sell any Bitcoin. That’s the key part.” Hamam claimed that while he has gifted BTC to family and friends, he’s never sold it.

Tahini’s is working to put in place the infrastructure required to accept Bitcoin as payment, but the process is challenging — not due to regulation or payment processors but because the franchise wants to hold the Bitcoin it accepts. “Even if you’re going to accept Bitcoin, work it out in a way where you never have to sell it,” Hamam explained.

The inevitable publicity bump that comes from jumping on the “Bitcoin accepted here” bandwagon is attractive, Hamam said, but “If you’re selling your Bitcoin immediately after you receive it, then you don’t really get Bitcoin, in my opinion.”

Hamam mentioned the Strike Lightning Network integration as an attractive proposition, as it would eliminate the high fees charged by Mastercard, but it’s still “pretty early” to explore payment options when the priority is growing the business.

Ultimately, in a developed economy like Canada with comparably high levels of trust in institutions, Bitcoin is primarily a savings tool. Equally, Tahini’s is not currently exploring paying salaries in BTC, as the franchise does not want to force the cryptocurrency onto its staff.

But that hasn’t stopped Hamam from persuading Canada’s Conservative leadership candidate, Pierre Poilievre, from buying shawarma with Bitcoin on the Lightning Network after Hamam “orange-pilled the heck out of him.” It was the first Bitcoin transaction made at Tahini’s, performed by an increasingly pro-Bitcoin politician.

On a personal level, Hamam and the more devout Bitcoiners among the management team raise questions such as: “Have you heard about Bitcoin?” “Did you know you can buy a fraction of a Bitcoin?” And even “Maybe you should think about putting a few dollars into a Bitcoin retirement plan.”

Inevitably, the orange-pilling is far more successful when the price is on a tear. If the price is dropping, it’s a bit more challenging. When China cracked down on crypto, for example, some of Hamam’s management team “freaked out a little bit.” Indeed, the 300% gains Cointelegraph reported earlier this year have begun to melt away.

Hamam said that his conviction was enough to steer the ship and settle his colleagues’ nerves. Running a restaurant on a Bitcoin standard comes with a side of zealotry. While Hamam sings the premier cryptocurrency’s praises, there’s also a community of passionate BTC aficionados who back Tahini’s investment decision and continue to offer support:

“The amount of love that I have for the Bitcoin community is — I can’t even describe it. People that have never even tried our food.”

Related: KPMG in Canada adds BTC and ETH to its treasury

However, Hamam said that the Bitcoin community has not directly impacted sales, as it’s still a tiny, albeit vocal, community worldwide.

Nonetheless, the business kept its head above water during the 2021 market turmoil and plans to expand to over 25 franchises in 2022. Hamam is resolute in his decision to put the profits into Bitcoin — even in the face of a tumultuous economic backdrop:

“You’re still going to gain the same benefits anyone else would gain, or Michael Saylor would gain, or Elon Musk would gain.”

The company has “aligned itself with the mission of Bitcoin” while, of course, serving “great food” to anyone. More and more companies could follow their lead and operate on a Bitcoin standard, while Hamam joked there might be a Middle Eastern dish that riffs on the cryptocurrency hitting franchises soon.