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Terminal One, a very popular bar in Elizabeth, New Jersey has stepped up its payment portfolio to include a cryptocurrency option that will allow customers to pay for their drinks in digital currencies.
A Litecoin merchant ambassador, Jon Moore, posted a tweet in which he held out a sticker of cryptocurrencies, Bitcoin(BTC)trade and Litecoin (LTC)trade, that will be accepted at Terminal One. The bar happens to be a really popular destination for many passersby mainly because of its proximity to the Newark International Airport.
From October 2nd, these customers will be able to pay for their drinks in digital currencies. Initially, only Bitcoin and Litecoin and a couple of other digital coins will be accepted. But the owners of the bar plan to add more cryptocurrencies to the digital payment pool.
Moore believes that this was a smart move. The locality where Terminal One is situated is a busy area and is often crowded with millennials who are the right age group for cryptocurrency use.
Cryptocurrency Payments Are Spreading
Cryptocurrency is beginning to establish its writ in many sites around the globe. VPN services, pizza deliveries, home goods and many more services and products can be bought in cryptocurrency. Location is an important factor for all these businesses that allow digital currency payments.
Two years ago, a parking provider in Denver International Airport announced that they would be accepting payments in Bitcoin. Brett Hardwood, the founder, claimed that Denver was an open-minded city when it came to technology adoption and so the decision, he hoped, would find approval by their customers.
In London last year, a leading brewery announced that it would start accepting payments in Bitcoin(BTC)trade and Bitcoin Cash (BCH). The bar is located at Canary Wharf on the Isle of Dogs which is a major financial center in United Kingdom and an ideal sandbox for launching payment options in Bitcoin.
Many business owners, in order to reduce risk, introduce cryptocurrencies as payment options in areas which are popular financial zones with high intensity of commercial activities.
In Elizabeth, New Jersey, local merchants are pushing CoinFlip to install a crypto ATM near the Newark International Airport as Moore stated as well. Currently, there are over 5,700 crypto ATMs across the globe according to Coin ATM Radar. In the United States alone, there are approximately 3,800 of these. Back in 2016, there were less than 500 Bitcoin ATMs around the world.
These numbers alone suffice to make a claim that Bitcoin adoption specifically and cryptocurrency adoption in general is really taking off. Folks at Terminal One were smart enough to identify this trend and rightfully made the bold decision of accepting cryptocurrency as payment options.