Categories: Bitcoin Business

Bitcoin, Litecoin Now Accepted at New Jersey Restaurant

Click here to view original web page at www.livebitcoinnews.com

An Italian restaurant in New Jersey has become the latest business in the area to accept payments in Bitcoin and Litecoin.

Italian Eatery Accepts Cryptocurrency Payments

Residents of Pompton Lakes, New Jersey can now buy their favorite Italian dishes with cryptocurrency. Monica’s Restaurant on Lakeside Avenue has added a new method of payment. Customers can now pay in Bitcoin and Litecoin as reported by NorthJersey.com.

Owner Atila Ajdinovski, who has a personal interest in cryptocurrencies, commented on the decision:

Right now, we have an older clientele. Hopefully, it brings in the younger crowd.

Crypto Adoption on the Rise in New Jersey

Jon Moore, of payment processing company Nationwide Merchant Solutions, has been helping merchants in the New Jersey area embrace cryptocurrencies. According to Moore, the addition of Monica’s brings the number of businesses he has helped to implement digital currency payments to 20, out of which many are e-commerce businesses.

Moore explained:

Credit cards are based on the honor system. […] When you’re dealing with people across the world you don’t know, honor systems don’t work. We’re seeing it already not work with all the fraud in the payment system.

Pointing towards the fact that a growing number of online retailers and walk-in stores now accept Bitcoin, Moore believes that a restaurant receiving cryptos is different as it provides an opportunity for the average person to get accustomed to virtual currencies.

“It’s an exciting place to have it. Most places aren’t as visible to the public,” said Moore, elaborating that in the next six months he plans to help 50 to 60 New Jersey retailers to start accepting cryptocurrencies. These include Sendai Sushi in Emerson and Giovanni’s Deli in Secaucus.

Paying with Crypto is Simple

Moore explains that paying with cryptocurrency at Monica’s is convenient for customers than paying with cash or credit cards and good for the merchant as well. The restaurant has a QR code that customers can scan with their cryptocurrency wallets. Once scanned, customers can transfer money from their wallets to Monica’s.

The process, according to Moore, helps the restaurant know in an instant the amount paid and tipped. This helps the business avoid disputes as well.

Talking about the benefits – transparency, anonymity, and security provided by crypto transactions, Ajdinovski said:

When they have your credit card, they have the expiration date. They have all the codes. They can turn around and rob your credit card without you knowing.

Helen’s Pizza in Jersey City was the first eatery in the area to accept Bitcoin payments back in 2014. Bitcoin ATMs have been installed in the area for people to exchange fiat money for the cryptocurrency. Some of the businesses hosting Bitcoin ATMs are Royal Fried Chicken in Elizabeth, T-Bowl Smoke Shop in Wayne and George’s Market on Hamburg Turnpike in Pompton Lakes.

Although slow, the adoption of cryptocurrencies among merchants in New Jersey area seems to be on the rise. As virtual currencies mature with better infrastructure, less volatility, and well-defined regulations, the pace of adoption can be expected to pick up.

Would you like to have restaurants in your city accept cryptocurrencies? Let us know in the comments below.

Images courtesy of Shutterstock, David M. Zimmer/NorthJersey.com

Residents of Pompton […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

The Entire Bitcoin Dynamic is Changed by the Lightning Network, Says Samson Mow

Samson Mow, BTCC Exchange’s Founder and Magical Crypto Friends and Blockstream’s present CSO, recently shared his views on Bitcoin’s status… Read More

2 hours ago

Bitcoin History Part 15: Silk Road Is Born

Silk Road launched in February 2011 as the darknet’s first bitcoin-based marketplace. Within four months, it would be the darknet’s… Read More

2 hours ago

Sunday Digest: Bitcoin Price, Pantomime Season, More Craig Wright Lies

Share Tweet Send Share This week, US President, Donald J Trump, decided that he would like to buy Greenland, thereby… Read More

2 hours ago

Bitcoin Twitter Is Daydreaming About a Hong Kong Bank Run

Crypto-fever dreamers cheered as Hong Kong protesters suggested organizing a bank run, but apparently rioters didn't flock to bitcoin. |… Read More

2 hours ago

World Bank issues second tranche of Ethereum blockchain kangaroo bond

'Kangaroo bond' is the name given to a foreign bond, issued in the Australian market and denominated in Australian dollars.… Read More

2 hours ago

What the Theft of a BBC Reporter’s $30,000 in Ethereum Shows About Cryptocurrency

Last week, BBC contributor Monty Mumford lost $30,000 of Ethereum . This came after a logical thought process: invest in… Read More

2 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More