Inside the CRYPTO cafe: New restaurant accepts Bitcoin and Ethereum as payment – and even the menu is inspired by the currency
- An Australian cafe is accepting cryptocurrency as a form of payment
- Crypto Coffee in Brisbane offer an all-day menu and dishes named after coins
- Customers can also get $20 worth of Bitcoin by signing up to Swyftx platform
- Cryptocurrency, such as Bitcoin and Ethereum, is a form of digital currency
A local café is the first of its kind in Australia to accept cryptocurrency as a form of payment.
Crypto Coffee in Brisbane has embraced the growing trend and named menu items after popular digital coins – including Bitcoin, Ethereum and Ripple.
Unlike cash, cryptocurrency is completely digital and can be used to buy goods and services – but is often exchanged for a profit online if the price has increased.
Customers can also get $20 worth of Bitcoin after visiting the café and signing up to the new cryptocurrency platform, Swyftx.
Crypto Coffee in Brisbane is one of the first cafes in Australia to accept cryptocurrency as a form of payment
Unlike cash, cryptocurrency is completely digital and can be used to buy goods and services but is often exchanged for a profit online if the price has increased
The all-day menu includes XRP (Ripple) smashed avo on toast, Doge BLT sandwich and ETH (Ethereum) ham, cheese and tomato toastie.
Fresh salads with avocado and chicken, fruit smoothies along with speciality coffee is also available.
Prices range from $6 for two slices of Shiba toast to $18.90 for a huge Crypto breakfast complete with two poached eggs on sourdough toast, mushrooms, sausages, avocado and bacon.
But in order to buy, trade and use cryptocurrency, consumers need to use specific platforms, like Swyftx which is the newest in the country.
Customers can also get $20 worth of Bitcoin after visiting the café and signing up to the new cryptocurrency platform, Swyftx
In order to buy, trade and use cryptocurrency, consumers need to use specific platforms, like Swyftx which is the newest in the country
Open seven days a week, Crypto Coffee will likely pave the way for future cafes to start using the digital currency as an alternative payment option.
The café also accepts cash and eftpos.
Unlike physical currencies such as the Australian or US dollar, cryptocurrency is completely digital and ‘decentralised’ – meaning it’s not controlled by any banks or government.
In a YouTube video, finance expert Queenie Tan said crypto’ comes from the word cryptography, the art of solving puzzles, while ‘currency’ is a means of exchange for goods and services.
Queenie uses Swyftx which has relatively low fees of 0.6 per cent and no deposit or withdrawal fees – though some alternatives include CoinSpot and Crypto.com.
Before diving into how to buy cryptocurrency, it’s essential to understand what it is and why it’s a popular talking point in the digital sphere.
What is Cryptocurrency and how do people make money from it?
Cryptocurrency is digital form of money that’s based on blockchain technology
The two biggest and most popular versions of cryptocurrency are Bitcoin and Ethereum, but there are more than 5,000 different cryptocurrencies in circulation
A cryptocurrency is a medium of exchange that is digital, encrypted and decentralised
Similarly to the stock market, owners of different cryptocurrency can sell their crypto for a profit if the price increases
But cryptocurrency is deemed to be a risky investment due to the constant daily fluctuations it undergoes