Burger King Venezuela now accepts crypto payments

by in Cryptocurrency News

Burger King Venezual now accepts crypto payments

All-time famous food chain Burger King has implemented not just Bitcoin but other cryptocurrencies to its system as well. So if you live in Venezuela and have Ether (ETH), Litecoin (LTC), Binance Coin (BNB), Dash (DASH), or Tether (USDT) then you can have access to some great food from Burger King!

Related: Venezuela oil and gold to be sold in Petro coin

It is reported that 40 outlets of the food chain will permit this.

Cryptobuyer is a corporation established in Panama which facilitates newly-built trading businesses. This company owns several ATMs known as Bitcoin ATMs which help in converting cryptocurrencies directly to fiat currencies.

Venezuela is up against some serious financial crisis, this has prompted its administration to implement crypto into their systems. They are also blocking the reach their citizens have over foreign currency and borderless payments.

These measures are taken to give their cryptocurrency Petro the center stage which will help in countering the nation’s financial setback.

On the other hand, Burger King is yet to make an official announcement regarding this. Previously the perception, that people of Venezuela are shifting towards Dash coin is also being inspected.

Former CEO of the Dash Core Group Ryan Taylor stated that Dash coin had the most influence in Venezuela. However, crypto usage amongst the country’s traders is still minimal. 

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Moreover, the critics have suggested that a rise in interest by the Venezuelan people over Bitcoin trading is just because fiat currencies are not strong enough. Not long ago when Burger King implemented Bitcoin in their systems it wasn’t a fruitful experience. In Russia and Europe, this plan failed badly and lost its appeal very shortly after being implemented. When the food chain announced a project in Russia called “WhopperCoin”, it got the food chain in some legal trouble as well.