A restobar in our city is now accepting crypto for payments!

[cheezcarls]

It looks like the city I'm living in is now getting started to adopt crypto slowly but surely!

As my long crypto friend visited me here in the city and decided to have dinner together in the restobar where my sister co-owned it with her business colleagues, I immediately noticed something when it comes to accepting cashless payments for their food and drinks.



As you can see in the image above taken by me, they've included Coins PH as one of the payment methods in their restobar. Coins PH is the most popular crypto wallet in the Philippines. I believe that the owner have upgraded its account to Business Level in order to accept crypto transactions of up to 5 million pesos ($100,000) per month.

I'm just happy seeing this to be honest. At least this is just the beginning. Hopefully more establishments will be accepting crypto payments here in the city.

[coupable]

It's important to note that using bitcoin to chop or to eat from bars and restaurants, is not a reliable way because of many reasons related the actual position of  bitcoin (volatility,miners,...)
However,
I feel so glad and excited when i see people using bitcoin for their regular transactions.

[Odusko]

That is great news to have access to a crypto currency payment system in an eaterie within our city is quite a bog relief for crypto lovers as a choice of payment cryptocurrency offers us a wide range of advantages over other payment methods,  Philippines is known for it cryptocurrency adoption most especially among the youths who have discovered a pathway to economic sustainability from cryptocurrency.
But you failed to mentioned which coin their accepting is it Bitcoin or other altcoin that are in stable form such as USTD?

[cheezcarls]

That is great news to have access to a crypto currency payment system in an eaterie within our city is quite a bog relief for crypto lovers as a choice of payment cryptocurrency offers us a wide range of advantages over other payment methods,  Philippines is known for it cryptocurrency adoption most especially among the youths who have discovered a pathway to economic sustainability from cryptocurrency.
But you failed to mentioned which coin their accepting is it Bitcoin or other altcoin that are in stable form such as USTD?

It has a Philippine peso account where transfer fees are zero as this is a government-regulated crypto wallet. On top of that, it also supports the USDC stablecoin, BTC, ETH, XRP, SLP, etc. We just simply scan the QR code or add their account as a recipient for us to easily send payments on the go.

[mk4]

But you failed to mentioned which coin their accepting is it Bitcoin or other altcoin that are in stable form such as USTD?

It's a safe assumption that the business will accept any coin/token that the centralized wallet supports, as the business would very likely immediately sell the coins/tokens for fiat anyway.

[LTU_btc]

It's nice to see business accepting crypto, but from what I understand, in place where you live this isn't regular thing. But anyway, still better than nothing. BTW, how exactly payments are made? Do you simply get QR code with BTC address and amount and pay from whatever wallet you want, or everything happens just through Coins.ph account?

It's important to note that using bitcoin to chop or to eat from bars and restaurants, is not a reliable way because of many reasons related the actual position of  bitcoin (volatility,miners,...)
However,

So, you shouldn't spend your bitcoins for shopping, eating, paying for subscriptions and etc just because it's volatile?

[24Kt]

It's nice to see business accepting crypto, but from what I understand, in place where you live this isn't regular thing. But anyway, still better than nothing. BTW, how exactly payments are made? Do you simply get QR code with BTC address and amount and pay from whatever wallet you want, or everything happens just through Coins.ph account?

It's important to note that using bitcoin to chop or to eat from bars and restaurants, is not a reliable way because of many reasons related the actual position of  bitcoin (volatility,miners,...)
However,

So, you shouldn't spend your bitcoins for shopping, eating, paying for subscriptions and etc just because it's volatile?

I believe it is not direct btc payment per se. It goes thru this 3rd party provider, which, in this case is coins.ph. So you still need to have account in their platform and they require KYC as most legit crypto-related business platform. So you need to have verified account to enjoy their services. But if nothing else, at least it is giving you the opportunity to pay crypto via 3rd party service provider.

[Quidat]

I'm just happy seeing this to be honest. At least this is just the beginning. Hopefully more establishments will be accepting crypto payments here in the city.

Any news or events that do talks about adoption is always been a good one yet merchants do gradually accepting crypto payments and its good to see that Philippines isnt really that
too strict when it comes to crypto knowing on some issues on where government do always push of.For crypto users who do reside into  these places are really finding
these things to be that convenient since they could really make use of their local wallet on paying something aside from cash which is always been a plus.

[Vaculin]

It looks like the city I'm living in is now getting started to adopt crypto slowly but surely!

As my long crypto friend visited me here in the city and decided to have dinner together in the restobar where my sister co-owned it with her business colleagues, I immediately noticed something when it comes to accepting cashless payments for their food and drinks.



As you can see in the image above taken by me, they've included Coins PH as one of the payment methods in their restobar. Coins PH is the most popular crypto wallet in the Philippines. I believe that the owner have upgraded its account to Business Level in order to accept crypto transactions of up to 5 million pesos ($100,000) per month.

I'm just happy seeing this to be honest. At least this is just the beginning. Hopefully more establishments will be accepting crypto payments here in the city.

That restobar must have taken another leap to level up, and its just nice to think that if ever you run out of funds in the middle of your jam, you can pay crypto as well. This must be a new thing for those who have never been exposed into crypto before, and will be one way that they can start knowing crypto as its already become mainstream in some countries. Another achievement for crypto indeed.

[DoublerHunter]

~snip~
I'm just happy seeing this to be honest. At least this is just the beginning. Hopefully more establishments will be accepting crypto payments here in the city.

^ I don't see that there is BTC accepting payment.
How the process of the payment is made?
It is a centralized wallet and I don't think it will accept BTC as a payment or other crypto, it could be accepting payment from fiat through your local wallet.
Another question, is there someone willing to pay a BTC even if we are in a downtrend situation? All shown above on the picture was an electronic wallet which I have doubt that it is your local currency was been accepted.

[coupable]

It's nice to see business accepting crypto, but from what I understand, in place where you live this isn't regular thing. But anyway, still better than nothing. BTW, how exactly payments are made? Do you simply get QR code with BTC address and amount and pay from whatever wallet you want, or everything happens just through Coins.ph account?

It's important to note that using bitcoin to chop or to eat from bars and restaurants, is not a reliable way because of many reasons related the actual position of  bitcoin (volatility,miners,...)
However,

So, you shouldn't spend your bitcoins for shopping, eating, paying for subscriptions and etc just because it's volatile?

As an ordinary user, i would enjoy it. Actually i am using it (in addition to few other stable alts) in my online businesses as i am in a country where crypto is not legalized.
But , as a merchant, i don't think it's yet suitable to use crypto in my store (i mean real chop not online). This is because it has a volatile price and unstable market.

[mk4]

^ I don't see that there is BTC accepting payment.
How the process of the payment is made?
It is a centralized wallet and I don't think it will accept BTC as a payment or other crypto, it could be accepting payment from fiat through your local wallet.

It's like Coinbase. You can pay using crypto directly off-chain for zero transaction fees (like how Coinbase <-> Coinbase transactions are free), or you can pay on-chain with the typical blockchain transaction fees.

Another question, is there someone willing to pay a BTC even if we are in a downtrend situation? All shown above on the picture was an electronic wallet which I have doubt that it is your local currency was been accepted.

What do you propose? That they put up the Coins.ph logo only when bitcoin is at an uptrend?

[SpenserReed]

As you can see in the image above taken by me, they've included Coins PH as one of the payment methods in their restobar.

Great to see that! And is it tax legal for them?

[xSkylarx]

This is from the Philippines, I am sure. Well, there are a lot of new stores I have seen here in our place, also in partnership with Coins Ph, but mostly of them are restaurants. I believe you can also pay in a convenience store to purchase foods or products. I am really hoping that a lot of stores will accept this kind of payment method. I have also posted here in the forum about how to live using only bitcoin to purchase things. Most of it is about the coins, ph. Also, I think Paymaya will follow this or Gcash and most of the merchants will accept this.

[ilovealtcoins]

Another question, is there someone willing to pay a BTC even if we are in a downtrend situation? All shown above on the picture was an electronic wallet which I have doubt that it is your local currency was been accepted.

What do you mean when the bear market is happening there won't be any bitcoin buying and selling, everything will stop until the bull market returns. I also hold bitcoin but that doesn't mean I will only sell it when it hits the moon, I will sell them when I make a profit or I will sell my bitcoins when I need money to do some important things.

Investing in bitcoin is for us to increase income, save depending on each person's purpose but we should not just hold them forever, but use them when needed.

[mk4]

Great to see that! And is it tax legal for them?

It is totally legal as long as you accurately report the transactions to tax authorities as they should, obviously. In the end they're mostly just receiving Philippine pesos anyway.

[worle1bm]

The businesses nowadays see opportunity to expand their profits through accepting bitcoin as you know market rule says grow with the trend so this is what they are doing.There might be people who will be willing to pay with cryptos at this restaurant and moreover they will be converting it into fiat or plan to hold as they wish but it's good they are accepting and people are happy to see this.