Timeout Singapore covers Bitcoin Bars and Cafes
The scene in Singapore is growing!
They went about 5 cafes and bars to look at their bitcoin acceptance and their experiences
Ah bitcoins! The currency of the internet (some say the future) and the tender of choice for the hip and modern-minded. Are you an early adaptor? Didn’t lose bitcoins to the Mt Gox debacle. Lucky you, you tech-savvy thing. If the news of Singapore receiving its first bitcoin ATM was music to your ears, you’ll be similarly pleased to learn a selection of tech age adept bars and cafés have already become bitcoin enabled, and readily accept the currency over the counter.
Good news: Everyone’s favourite laid back, al fresco coffee joint on Haji Lane is also now bitcoin enabled. You can pay for your morning bircher muesli, your lunch Panini or your Saturday night craft brews with nothing but your phone. No stranger to having laptop doting 20-something’s crowding their stools, it makes sense really. For some, a drawcard may be that the café has no cap on spending limit using the currency, however they make sure they monitor the current value relatively closely. ‘We’ve thought about placing a limit on bitcoin spending,’ says Chad from CAD. ‘The biggest transaction with bitcoin we’ve had so far has been about $100. The thing is, given the until recent fluctuations in value, that money could then be worth $300 the next day, or it could be worth $50,’ he continues. ‘But it’s not too much of a concern given most of our transactions are a bit lower than that: more a coffee and breakfast kind of price range.’