Page 6 - Beverage Master_AprMay2022
P. 6

Craft Brewery

               Tales From the Crypto

                 By: Raj Tulshan, Founder of Loan Mantra
                 S      tillFire Brewing is the first brewery in    companies. Notably, the brewery has joined more

                                                                    than 30% of U.S. small businesses that now accept
                        Georgia to accept cryptocurrency and cus-
                        tomers are invited to use Bitcoin as pay-
                                                                    more mainstream and popular.
                        ment for beers and other beverages, as      cryptocurrency, as this payment method becomes
               well as, their merchandise, which includes t-shirts,
               caps, gift cards, and more. The small business         Threes Brewing, with locations in Brooklyn and
               decided to accept crypto so customers could use      Long Island, is also accepting cryptocurrency. The
               a fast, secure payment method, and the brewery       pandemic forced them to adjust their business
               owners appreciate crypto’s benefits, including no    model, which included updating their website and
               third-party involvement or bank fees. StillFire uses   offering beer delivery direct to consumers. People
               CoinBase, a Bitcoin payment processor, to han-       were excited to buy the brews online and asked
               dle the payments. CoinBase offers fast, next day     the brewery owners to start accepting PayPal. The
               deposits and a low fee – just 1% of transactions, as   owners decided to go one step further, offering a
               opposed to 2-4% typically charged by credit card     cryptocurrency option, as well, which was easy to

               4     April - May  2022     BEVERAGE MASTER

          BM040522 Main Pages.indd   4                                                                              3/25/22   1:24 PM
   1   2   3   4   5   6   7   8   9   10   11