Everyone’s talking about BUYING Crypto, but who’s actually spending it?
Investors who followed Doge to the moon or invested well in other online currencies, Bitcoin, Ethereum, XRP, Tether or others might like the opportunity to cash-in their investments, and one Twitter user posted this pic claims that a Dubai caf now accepts different types of online currencies for payment. (*The location and date of this image is not verified).
This wouldn’t be the first time a venue in Dubai accepted Crypto for payment. Back in 2014, The Pizza Guys, a Business Bay pizza place pioneered small Crypto transactions when they started accepting Bitcoins for payment (The Pizza Guys has since closed).
Trading your lunch: Restaurants taking Crypto for payment
One early judgment for the online currencies is the fact they are not yet a substitute for cash
While supporters of Crypto will argue that we are very much in the development stages of digital currencies, and that will all change and Dubai, in particular, is at the forefront of Crypto in the region with more and more industries jumping in to take Crypto for payment.
Kiklabb, a government-owned licensing entity, started accepting certain types of Crypto for payment in February 2017.
And in May this year, a UAE property developer announced they would accept Dogecoin as payment; Samana Developers said they would also offer a 5% discount to investors who pay using Dogecoin for a development in Jumeirah Village Circle.
A pizza place in Business Bay became the first place to accept Bitcoin for purchases back in 2014
Possibly one of the very first spots to accept the Crypto in the entire region, they had three bitcoin transactions in the first week of opening.
“We had no way of anticipating the response and interest this story has generated. We knew we were the first in the UAE – restaurant or otherwise – to accept bitcoin. We still have a hunch that we are the first in the Middle East.” Former owner Amber Haque
via Coin Desk
The Pizza Guys, Business Bay has since closed its doors. (Image below via Zomato)
3 years ago, a restaurant in Abu Dhabi announced it would accept Crypto as a form of payment
The Skinny Genie restaurant in Khalifa City, Abu Dhabi has also now closed its doors.