At a new cafe on Aungier Street, Dublin, you can pay Cryptocurrency for coffee and cake. Investors can now let go their euro and make payments from their crypto wallet through phones; explicitly Ethereum and Litecoin.
Nash Basel, the owner of new crypto cafe set up on Dublin’s Aungier Street at January end has investment in cryptocurrencies, using his gains to fund the cafe.
Basel began his cryptocurrency investment roughly half a year ago and calls himself a bit lucky after selling his holdings ahead of the dramatic crash.
“I got a bit lucky”.
This is not the first of its kind in hospitality sector, Basel already owns Jerusalem restaurant on Dublin’s Camden Street. He was influenced by the Prague’s Bitcoin Coffee that only accepts Bitcoin payments. As he had first thought of opening a standard cafe later on hits by accepting cryptocurrencies.
At present, the Aungier Street cafe has become a place for all crypto things with a Coinbase screen. It gives a complete update for customers regarding currency prices. Also, “Hodl 4 Life”, the wall proclaiming a type of “Hold” that has become a motto for bitcoin investors. The cafe is now well-known for crypto and blockchain meet-ups.
Having an option of Ethereum and Litecoin payment, less than 20 customers have paid with the currency till date. Therefore, by the fluctuating value of digital currencies people holding onto their lives.
“This is one of the quirks – and attractions – of the cafe. When you’re winning [on cryptocurrency investments] you’re spending, as the coffee might be less than €1 at the time; but if you’re losing 50 per cent, the coffee might cost you €6”.
However, Mr. Nash Basel has the option of either converting Ethereum or Litecoin back to euro, else keeping it in cryptocoins. Currently, the payments are in coins with the intention to use it for further development.
“Cryptocurrencies are here to stay. It definitely will be a standard currency; it’s gotten too big already to ignore”.