Fast-food chain Steak ‘n Shake recently launched Bitcoin payments at all of its 397 U.S. locations, making it one of the first major restaurant chains to fully embrace crypto at scale.
The rollout covers in-store, drive-thru, and kiosk orders, and uses the Lightning Network for fast, low-cost transactions.
By using the Lightning Network rather than traditional on-chain Bitcoin transactions, Steak ‘n Shake has been able to offer fast payments for customers with minimal fees for its business.
According to COO Dan Edwards, transactions paid with Bitcoin cut processing fees by about 50% compared to credit cards as well as offering an alternative and convenient payment method for tech-savvy customers.
This prompts an important question: what might happen if more companies start to realize the cost advantages of using Bitcoin instead of traditional card payments?
Steak ‘n Shake said the first day of Bitcoin payments saw strong activity. At one point, about one in every 500 Bitcoin transactions worldwide was happening at one of its locations.
The company has emphasized that this is not a promotional experiment or pilot program, but rather a long-term integration of Bitcoin payments into its broader payment infrastructure.
The company also framed the decision as part of a strategy to embrace technological innovation and meet evolving consumer expectations, particularly for younger customers.
With younger consumers showing greater interest in digital assets and alternative financial tools, offering Bitcoin payments may help the brand stay competitive in a shifting marketplace.
It looks like a shrewd business decision as many Bitcoiners have decided to stop by at Steak ‘n Shake more regularly to support the business.
Although the current rollout is limited to the United States, Steak ‘n Shake has signaled plans to explore international expansion of its Bitcoin payment system in the future.
Steak ‘n Shake COO Dan Edwards revealed the plans, saying, “Our goal is to utilize Bitcoin at all locations, including all international units. Each country will announce its own launch date.”
For now, the company is monitoring adoption rates, customer feedback, and operational performance.
The Franchise Times gauged that Steak ‘n Shake made approximately $620 million in global sales in 2023.
As cryptocurrencies continue to gain traction in both investment and payment contexts, Steak ‘n Shake’s move may serve as a case study for how established brands can implement crypto payments at scale.
Whether this signals a broader trend in the restaurant industry remains to be seen, but it marks a clear step forward in real-world Bitcoin adoption.
As Bitcoin continues to evolve from a store of value into a spendable currency, integrations like this are becoming more practical, especially when paired with low-fee wallets.
If you’re planning to try out Bitcoin at the checkout, choosing the right wallet is the first step. Whether you want simplicity or full control, there are now a range of options that make it easy to pay with Bitcoin sats.
Among them is Best Wallet, a secure, decentralized, and feature-rich solution primarily designed to help users trade, store, and manage their digital assets freely, without identity verification – no government-issued identification, no proof of address, or any personal details.
The absence of KYC procedures appeals to users looking to buy fast food swiftly, and without sacrificing their privacy. And since it follows a self-custodial model, users maintain full control over their private keys and assets.
The wallet also excels when it comes to security, leveraging modern technologies like Fireblocks to protect users from drainer exploits.
But self-custody and security are only part of the appeal that reinforces Best Wallet’s appeal as the best option for all kinds of crypto enthusiasts. Unlike a traditional non-custodial wallet, Best Wallet is a complete ecosystem that supports direct on-chain trading without relying on intermediaries.
It’s also known for its multichain functionality, currently supporting Bitcoin, Ethereum, BNB Smart Chain, and Base networks, with more still on the horizon. This enables users to trade thousands of cryptocurrencies across multiple blockchains and explore a wide range of staking opportunities.
Other notable advantages of Best Wallet include fiat payment, cross-chain swaps, low fees, portfolio management, and more importantly, a token launchpad.
Together, these features have contributed to its widespread adoption, boasting hundreds of thousands of users worldwide.
Besides, many crypto-focused platforms, including 99Bitcoins, have positively reviewed Best Wallet, describing it as a key player in the rapidly evolving DeFi landscape.
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