Is Starbucks Accepting Crypto?
As cryptocurrency continues to grow in popularity, many people are looking to use it at their favorite stores and restaurants. However, this can be difficult at times, as customers are not always aware of what companies accept crypto as payment, and which ones do not.
While the increase in popularity of the currency has led to many companies adopting it as a valid form of payment, many still do not accept crypto. One destination that is commonly brought up when questioning whether a company accepts crypto or not is Starbucks. Coffee from Starbucks is a daily routine for some, and many crypto users are looking to pay for their coffee with their favorite currency.
Can You Pay With Crypto at Starbucks?
Thankfully for crypto users, Starbucks does allow for customers to pay for their purchases with cryptocurrency. Specifically, crypto users that own Bitcoin can utilize their coin to pay for their favorite drink from Starbucks.
This was a natural evolution of the company's growth, as Starbucks is all about quick and fast transactions, along with quick and prompt service. Crypto is just another way to reduce the time needed to make a payment, even if the company is not allowing customers to directly pay for their drinks with Bitcoin.
Instead of a direct payment with Bitcoin, crypto users visiting Starbucks will need to have the Starbucks app, along with being a member of Bakkt, a digital banking program. These two companies have formed a partnership in order to allow Bitcoin to become a viable form of payment at Starbucks. Compared to other coffee chains, this method is quick and easy, and crypto users should have no troubles when trying to purchase their drinks with Bitcoin.
How Do You Pay with Crypto at Starbucks?
While the process of paying with cryptocurrency at Starbucks might be more tedious than some would prefer, it still allows crypto users to readily pay with their coin. Customers who wish to use cryptocurrency must be a loyalty member of Starbucks while also having the Starbucks app downloaded on their cellular device.
This loyalty program is a major aspect of the Starbucks sales model, as members are likely to purchase a coffee almost daily. The Starbucks app allows members to pay for their purchases through the app itself, all while racking up more loyalty points for the user compared to a standard cash or credit payment. However, the money that makes up a customer’s Starbucks wallet must come from somewhere, as it is often tied to a bank account of some sort.
Cryptocurrency users now have the option to upload bitcoin into their wallet through a partnership between Starbucks and the digital-wallet company Bakkt. Bakkt allows users to take their Bitcoin and convert it into US Dollars. Once they have converted their currency, they can then add funds from Bakkt into the Starbucks app. This is a process that takes two separate applications, the Starbucks and Bakkt apps, to complete.
Once users begin to do so they should have no problems with transferring over their Bitcoin. Bakkt has been at the forefront of the push to increase the use of digital technology such as Bitcoin, so major retailers such as Starbucks partnering with the company is a great sign of things to come.
For Starbucks, the partnership opens their products up to an even wider audience while allowing them to take on minimal risk. The partnership is a win for both companies, and also a great way for crypto users to utilize their Bitcoin. Bakkt is supported by other major retailers such as Best Buy, and will likely continue to expand their reach into the world of cryptocurrency.
Are There Other Coffee Chains Which Accept Crypto?
The growing influence and use of cryptocurrency around the world has led to other chains across the globe adopting the currency as well. In fact, there is a coffee shop in Prague, Czech Republic that only accepts Bitcoin as payment. This coffee shop, aptly named “Bitcoin Coffee,” is just one example of the changes businesses are adopting in order to keep up with cryptocurrency.
Dunkin’ Donuts is another major coffee chain that now allows customers to pay for their coffee with cryptocurrency. Their method might be even more tedious than Starbucks, but it still allows crypto users to utilize their currency.
Bitcoin users might have heard of the website egifter, which allows customers to purchase gift cards to more than 200 companies in the United States. Egifter offers many different methods of payment, with Bitcoin being adopted recently as well. Through egifter, Bitcoin users can use the coin to purchase a gift card to Dunkin’ Donuts. This gift card can then be given to a friend, or kept to use at any physical location or online.
This is definitely not as simple as using bitcoin to purchase a coffee at Starbucks, but crypto users that love Dunkin’ are still able to buy their coffee with Bitcoin. Other coffee venues are also supported on the egifter site, allowing cryptocurrency users to purchase gift cards to Peet’s Coffee & Tea and Krispy Kreme with Bitcoin.
One interesting addition to egifter is the inclusion of Uber Eats on their platform. It is likely that several coffee chains that do not directly accept Bitcoin will still have Uber Eats integration. This would open up the door for those that are dead set on using cryptocurrency as payment to potentially have many more options when it comes to coffee stores.
Any cryptocurrency users should absolutely look to utilize their coin at Starbucks whenever they have the chance. Major retailers such as Starbucks accepting bitcoin should be a sign of things to come, as more and more coffee chains are likely to jump on the bandwagon if they have not already. And it isn’t just coffee, many other companies around the world are beginning to accept cryptocurrency as payment, so always be sure to ask before you pay if there is a way you can pay with your crypto!