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Paying in Bitcoin with McDonald's is now possible


 Cryptocurrencies , due to their high yield, are considered an excellent means of investment today. Despite the risks that come with them, more and more people see cryptocurrencies as a way to get rich.

However, cryptocurrencies are first and foremost a method of payment. The creation of Bitcoin, and cryptocurrencies in general, was motivated by the desire to make purchases in complete anonymity.

Fortunately, the growing popularity of the cryptocurrency market makes it much easier to integrate them as a means of payment.

Paying in Bitcoin with McDonald's is now possible

This system has also experienced a great boom in the city of Lugano, Switzerland. Indeed, at least 60 merchants including a McDonald's today accept Bitcoin as a means of payment.

Bitcoin: a valid means of payment in Switzerland?

The largest cryptocurrency by value is in the spotlight again this week. Despite the downtrend it is currently suffering from, the Bitcoin community welcomes a series of good news.

Following the announcement of the authorization to purchase in Bitcoin by the McDonald's restaurant located in the city of Lugano in Switzerland, thousands of Bitcoin users and several other crypto enthusiasts came to the restaurant over the week. -end. All these cryptocurrency enthusiasts wanted only one thing: to exchange their Bitcoins for Big Macs, McFlurrys and coffee.

Many might wonder why this McDonald's announcement sparked such an intense reaction from European cryptocurrency enthusiasts and why they were so enthusiastic about paying with Bitcoin.

This is partly because allowing BTC as a form of payment at McDonald's, one of the most well-known brands in the world, is a big opportunity for the crypto industry in general. This could help increase the popularity of Bitcoin and other cryptocurrencies.

Then, most crypto users moved to demonstrate the Lightning Network, a level 2 technology integrated into Bitcoin. Others have done so to see Satoshi Nakamoto 's promise “Bitcoin is, first and foremost, an electronic money system” come true.

What is the origin of this McDonald's initiative?

The McDonald's initiative is part of a plan that was developed by the company Tether. According to Paolo Ardoino, chief technology officer of Tether, the company has drawn up a vast plan to enable the economic capital of Italian Switzerland, Lugano, to adopt Bitcoin and cryptos in general.

This plan, which at first consisted of just helping citizens pay their taxes in cryptocurrencies, quickly turned into much more. Tether has now set up a summer school called Plan B and a conference called the Plan B Forum.

They have also partnered with several merchants to adopt cryptocurrencies as a means of payment. McDonald's is spearheading this latest project.

In an interview with the Cointelegraph platform, Ardoino said:

The entire McDonald's team has been trained and introduced to the Bitcoin network. This training took place a few days before the big European conference on Bitcoin and blockchain, Tether's Plan B Forum.

Nevertheless, McDonald's is not the only restaurant to have received training in cryptocurrency. According to Tether's CTO, the Plan B team has successfully partnered with over 60 merchants over the past few months. The latter have agreed to use cryptocurrencies as a valid means of payment.

The team in charge of the Plan B project does not intend to stop there. The company plans to hit a low of 1,000 merchants by the second quarter of 2022. For Ardoino, the team's main goal is to make Lugano the best place to spend cryptocurrencies in Europe.

How does the cryptocurrency payment system work in the city?

According to the explanations of Paolo Ardoino, a merchant partnership took place between GoCrypto and Tether. The first being a company specializing in cryptocurrency payments, while the second is the origin of the most popular stablecoin in the world Tether.

Thanks to this partnership agreement, all merchants integrated into Plan B can have access to a payment terminal colored in LVGA token, Bitcoin Lightning and Tether. The LVGA is a stablecoin proxy for the Swiss franc, the official currency of Switzerland. It is available to all local residents.

In terms of adoption, Tether's CTO said in his interview that the Swiss have shown great interest in this new project. According to him, not a single trader rejected the opportunity to accept cryptocurrencies as a means of payment. He says this is in contrast to the adoption of crypto merchants in the UK where it is far more difficult.

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