Starbucks is a leading American coffee company and have many coffeehouse chains around the world. It is a favorite coffee shop for many people and now to favor their customers on making payments they going to allow the customers use Bitcoin at Starbucks for buying their coffee.
Since, many shops were started to accept Bitcoin and other cryptocurrency as they are being an alternative payment method. Likewise, Starbucks accepting Bitcoin for making payments as the Starbucks shops were integrated with Bakkt and implemented the crypto-based payment system for Bitcoin payments.
Starbucks customer and cryptocurrency payments
Starbuck worked on the designing and developing the application as they made a card which allows the coffee magnum to be the Bakkt’s first merchant on-platform.
The partnership between Bakkt and Starbucks has been declared officially after the equity stake was issued. According to the declaration made Starbucks allowed Bitcoin-based payments.
With the availability of this feature customers of Starbucks can also make use of Bitcoin to pay their coffee bills in Starbucks coffee shops.
Customers of Starbucks hereafter can shop their favorite coffee in the money even using their digital as Starbucks accept Bitcoin.
US customers can use Bitcoin in Starbucks to shop coffee.
Yet the cryptocurrency payment is not much expanded as they were in initial stage so that this is feature available for customers of United States only.
Bitcoin becomes one of the payment methods in Starbucks coffee shops. Starbucks can’t accept the deposit directly yet in Bitcoin as at the time of payment BTC were exchanged into U.S dollars which made enabled by the Bakkt software.
Users of Starbucks application can easily pay in the app with Bitcoin as it has been integrated with the Bitcoin wallet and this is really helpful for mobile customers.
Using Bitcoin for coffee payments will be troublesome
Paying with Bitcoin for coffee is fine as it also a payment method of Starbucks which has included in recent times.
Making use of Bitcoin won’t be problematic for doing the payment but it may cause the trouble in the form of tax. When the customer pay for the coffee in Bitcoin then have to check the price of Bitcoin as have to make the comparison of their value at the time of purchase with their price during filing taxes.
This has to be done for calculating the capital gains and losses. This will be quite troublesome at the time of taxation.