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Bitcoin (BTC) and Litecoin (LTC) adoption on the rise

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A famous New Jersey-based Italian eatery, Pompton Lakes, has opened its arms for Bitcoin and Litecoin payments.

When it comes to virtual currencies, many crypto pundits agree for these virtual assets to gain and appreciate, they need to be adopted and be put in use in the way they were designed to, and that is in transactions and exchange of coinage.

While this might not be the case for all digital currencies, some of the renowned virtual tokens like Bitcoin were originally considered as a means to transact between entities with the added advantage of convenience and privacy.

Sadly, even if virtual currency holders were willing to spend their digital assets on transfers and purchases, they would not find many appropriate occasions for doing so. That is why the latest news of an eatery starting to allow payments to be made in cryptocurrency is big news that is worth noting for investors.

Obviously, if more merchants and traders accept and adopt this mode of payment as an alternative to traditional modes of payment, the prices of Bitcoin, Litecoin, and virtual currencies in general, would be supported by real significant values.

Pompton Lakes Eatery Accepts Cryptocurrency Payments

Monica’s Restaurant is old but modern wine and dines eatery joint that is situated on Lakeside Avenue in Pompton Lakes in New Jersey. Recently, the Italian Restaurant came out to announce to the public that they now allow their clients to pay for their meals in virtual currencies as an alternative to fiat currencies.

Monica’s Restaurant sees this move as a marketing strategy that would entice a younger generation of customers to come and dine in their establishment. Patrons can now pay for their dishes in Bitcoin and Litecoin.

Irrespective of virtual currencies becoming far-reaching in the last few years, it is still the youthful tech-savvy generation who are mostly involved with these digital assets. An Italian eatery accepting payments in digital currencies such as Bitcoin and Litecoin could be too cool to miss checking it out for patrons who are into cryptocurrency.

Questions like, how will it work, is it for real? – are the type of questions that the restaurant is counting on to increase the flow of customers to their premises. Atila Ajdinovski, the owner and founder of the eatery mentioned:

“Right now, our clientele comprises of an older age group. We hope that by accepting cryptocurrency, it will bring in the younger crowd”

Are Cryptocurrency Payments the Future?

According to a high representative of payment processing firm Nationwide Merchant Solution, Jon Moore, Monica’s Restaurant is currently among the 20 New Jersey establishments that he has assisted in embracing virtual currency. Nationwide Merchant Solution is a payment processing company that helps customers in New Jersey to accept payments in virtual currencies.

At the moment, Jon has assisted more than 20 businesses in implementing cryptocurrency as a mode of payment in their businesses. According to Jon, many of these businesses that have adopted cryptocurrency operate in the e-commerce industry. He believes having an eatery accepting payments in Bitcoin and Litecoin is especially thrilling for crypto followers as it will bring attention to the virtual currencies from a new block of people.

Originally, e-commerce businesses offer cryptocurrency mode of payments to their customers who already know about cryptocurrency. However, restaurants, on the other hand, are displaying this information publicly for all visitors to see and get the news. This is helping in spreading cryptocurrency’s popularity and adoption process to the general public.

How to Pay for Food Using Bitcoin or Litecoin

The process of paying using virtual currencies in Monica’s restaurant is simple and easy to understand as it entails transferring digital money from one wallet to another. What happens is Monica’s restaurant displays a QR code to its patrons, who are given the option to scan the code and effect the payment. After completing the process, the restaurant is alerted of a Bitcoin or Litecoin payment that has been transferred into their respective wallet immediately, rendering the payment process complete.

The use of cryptocurrency is quickly gaining pace as a viable mode of payment in New Jersey and around the world. It is a mode of payment worth trying out (and sticking to).

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pixabay

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

In many ways, it’s the perfect partnership between Bitcoin and online casinos with multiple benefits for both.

The first of…

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