Now tell me one more time you can't buy anything with Bitcoin! Chipotle Now Accepting Cryptocurrency Payments at US Locations The Tex-Mex chain’s partnership with Flexa allows customers to pay with 98 different digital currencies, including BTC, ETH and SOL. By Elizabeth Napolitano Jun 2, 2022 at 12:56 p.m. CDT Updated Jun 2, 2022 at 2:42 p.m. CDT 0 seconds of 5 minutes, 44 secondsVolume 0% Fast-casual chain Chipotle Mexican Grill (CMG) has begun accepting cryptocurrency payments through Flexa, a digital payments platform. Customers can pay for their burritos and other Tex-Mex favorites using Flexa at any Chipotle restaurant across the U.S. The Flexa platform supports 98 digital currencies, including bitcoin (BTC), ether (ETH) and Solana's SOL. Customers must download the Gemini or SPEDN app, which store digital assets, to use Flexa for in-store purchases. To celebrate its new payment options, Chipotle is giving 10% off to customers who make their next purchase with any digital currency in a Flexa-enabled app. This isn’t Chipotle’s first move into digital currency. Last year, Chipotle announced it would give away $100,000 in free burritos and $100,000 in bitcoin to celebrate National Burrito Day. This year, Chipotle launched its own in-experience currency, Burrito Bucks, on Roblox (RBLX) to accompany the launch of its Burrito Builder game on the same platform. Players could exchange Burrito Bucks for a free entrée code at participating Chipotle restaurants. Chipotle joins a growing list of fast-food restaurants experimenting with cryptocurrency payments and promotions. In March, Shake Shack (SHAK) announced customers would receive 15% of their purchases back in the form of bitcoin on any Shake Shack purchase made with Block’s (SQ) Cash App debit card, Cash Card. Nearly a year earlier, sandwich shop Quiznos partnered with Bakkt App to launch a pilot program to accept payments in bitcoin at select Quiznos outlets in Denver. Flexa co-founder Trevor Filter says expanding digital currency payment options benefits both customers and companies. “Chipotle benefits from reaching customers where they are through the new payment methods they want to use,” Filter told CoinDesk. “And, at the same time, Chipotle’s customers benefit from greater payment flexibility, faster checkout and a more seamless experience at the fast casual restaurants they already love.” Read more: Gucci to Accept Crypto in Some US Retail Stores: Report
The problem, is most Westerners are going to cringe at the thought of spending BTC on fast-food. If they haven't paper-handed out already, then they are die-hard HODLers.
Are the prices in crypto or in US dollars. I'm guessing US dollars So when you buy a burrito you will be paying the US dollar price plus the spread plus whatever charge the card company levies.
They would accept dog crap if they could find a third party to handle the transaction and give them dollars.
Is there a comparison of the fees the store pays for crypto purchases versus a regular CC (e.g., Mastercard or Visa)? CC fees are burdensome and keep increasing. I wouldn’t be surprised if stores pay lower fees on crypto sales, in which case crypto adoption by big chains makes business sense. I always pay cash for small purchases, especially from mom and pop stores, many of whom have minimums to use a CC. I see folks buying a cup of coffee with a CC. The idea of having “walking around money” seems to have died a while ago.
The time to sell Chipolte stock (CMG) is NOW. BAD decision by CMG management. Too bad @vanzandt won't see this salad advice, because he has me on ignore. Alas.
Yup, that's the stupid part. US government doesn't allow BTC to be used as a currency. So every fucking little transaction you do, you have to do tax calculations and adjusted cost basis bullshit. At least in Germany you don't pay taxes on crypto. Though I'm not sure if that's only after you HODL it for a minimum of one year first. I'm pretty sure a lot of early-bird crypto investors are packing their bags for Europe these days. Can you blame them?