The Venezuelan branch of Burger King started cooperating with the Cryptobuyer company and as a result of this, one of the branches located in Caracas began accepting payments via a few popular cryptocurrencies.
Burger King in Caracas accepts as many as 6 types of cryptocurrencies!
Cryptocurrencies are enjoying quite a popularity recently. For this reason, more and more often retailers decide to accept cryptocurrencies in order to gain more interest from their potential customers.
A trend like this is rather noticeable among fast food chains. Some time ago, Burger King located in Ljubljana, Slovenia started accepting payments in Bitcoin Cash (BCH).
And even more positive news is appearing now: the Venezuelan branch of Burger King accepts transactions in six cryptocurrencies! Moreover, for the 2020 an expansion to 40 locations throughout the country is planned.
As the message published by Cryptobuyer on the 30th of December, 2019 informs, the Burger King branch at the Sambil shopping center located in Caracas accepted: Bitcoin (BTC), Ether ( ETH), Litecoin (LTC), Binance Coin ( BNB Coin), Dash (DASH) and Tether ( USDT). All this thanks to the Cryptobuyer company, which provides a platform allowing the conduction of this type of transactions.
Ernesto Contreras proudly announced that thanks to this cooperation, the Venezuelan Burger King restaurant will be supporting cryptocurrency belonging to his company.
"The growth of Cryptobuyer in South America, especially in Venezuela, is another example of how this region is ahead of the curve in adopting cryptocurrency as a real method of payment."
- we read on the Dash blog.
The initiative was also mentioned about by Changpeng Zhao (the CEO of Binance Cryptocurrency Exchange).
Jorge Farias (the CEO of Cryptobuyer), on the other hand, praised South America and Venezuela for its forward-looking approach to cryptography.
A difficult situation in Venezuela
Doubtlessly, Burger King's initiative will enjoy a high interest in Venezuela, considering that the country is still in hyperinflation. Hiperinflation is, in turn, prompting its citizens to use alternatives such as cryptocurrencies.
It is worth noting here, that Venezuela issued its own virtual currency (which, in addition, has oil coverage) called Petro (PTR) which was perceived as hope for the improvement of the economic situation in this country.
According to media, the Venezuelan government is trying to force its citizens to use PTR. The country is not properly prepared for the mass adoption of this cryptocurrency, however. With a population of nearly 32 million people, in Venezuela there are only 4,800 companies actually accepting payments in Petro.