StillFire Brewing in Suwanee was one of the first breweries to open in Gwinnett. Now it becomes the first brewery in Georgia to accept a new, new type of currency.
The brewery announced that it is switching to cryptocurrency and will begin accepting bitcoin as payment for beer, seltzer drinks and other goods at its pub. The new payment method took effect on Tuesday.
“Bitcoin allows our customers a cheaper, faster and safer way to enjoy our beer,” said StillFire CEO Aaron Bisges. “Our customers want simplicity, and we are happy to offer it to them.”
The brewery touts the benefits of using bitcoin, which it has described as “all the benefits of cash – no third party involvement or banking fees – combined with the benefits of electronic transactions,” as the reasons it decided to start accepting cryptocurrency.
StillFire will use CoinBase, which is a Bitcoin payment processor, to process payments. The processor is designed to enable merchants to accept bitcoins and deposit US dollars into their bank accounts the next day with a 1% commission.
In comparison, StillFire said the merchant could be charged anywhere from 2% to 3% by the credit card processor on top of equipment rental costs, membership fees and handling fraudulent chargebacks.
The brewery said the use of CoinBase should also address any customer concerns about “bitcoin price volatility.”
“It’s obvious to us that today’s customers are tech-savvy and prefer to shop and browse the Internet,” Bish said. “The natural progression from this is to start offering cryptocurrency, and we really look forward to seeing how many people are willing to buy this way.
“The future is here and it includes good beer.”