Subway is accepting Bitcoin payments on three of its stores in Berlin

While several big names are embracing the cryptocurrency industry, Subway, an international American fast food restaurant chain, joined the movement as well. Three of its Berlin-based locations have begun accepting bitcoin as payment.

Crypto aficionados are in for a treat as three of Subway’s Berlin locations have begun taking Bitcoin as payment. It is a part of a crypto network experiment and has received positive feedback from its users.

“Five years ago, I started to deal with cryptocurrencies; and in the last two years, I have dealt very intensively with the topic of Bitcoin. With that in mind, I’ve decided that [Bitcoin] could be the better money system”, said Daniel Hinze, the owner of the Subway outlet.

By providing a 50% discount for a week when customers pay with Bitcoin, he has attempted to spread the news about the new payment method. 

Notably, Hinze has partnered with Switzerland-based Lipa to build a point-of-sale solution in his store using a QR code allowed by Lightning, which consumers may scan, and the transaction takes place in a quick and easy manner.

Germany feels rise in Bitcoin adoption

Bastien Feder, the CEO of Lipa, asserted that the 1 percent fee Lipa charges its merchants is significantly cheaper than other conventional payment methods. While Bitcoin and other cryptocurrencies may be extremely volatile, he anticipates a gradual increase in crypto payments, which has already occurred in many areas of Germany, Switzerland, and other countries. He stated:

“It’s 2.5% to 4%, depending on the contract from the merchant. If it’s a business card, there’s 0.5% on top of that. […] And if it’s a foreign business credit card, you pay up to 7%, and you don’t know until the end of the month.”

A large number of internet users have been using the hashtag #usingBitcoin while posting on social media in Germany, which is reportedly the most crypto-friendly nation. Since cryptocurrency acceptance is still at a very early stage in Europe, experts have praised this initiative as it would undoubtedly help the sector flourish.