The Colonel is embracing Bitcoin! KFC will now let you buy fried chicken using Bitcoin, as it has started accepting the cryptocurrency for a special deal that can only be bought using this digital coin.
In Canada only, though.
This latest example of mainstream cryptocurrency can be termed as a PR stunt, but it is a sign of the changing future. Apparently, this move is also a first in the restaurant world, of a parent company embracing the digital currency.
Until now, only select franchise locations of other restaurant chains have accepted Bitcoin as payment.
Conveniently named, the Bitcoin Bucket is the latest introduction from KFC Canada. Customers can buy this new menu item exclusively with Bitcoin. It sells for the Bitcoin equivalent of 20 Canadian dollars, and the price in BTC is updated every 5 minutes in real-time.
One Bitcoin Bucket costs about 0.001 Bitcoins at the time of this writing.
Or more specifically, 0.0010305 BTC.
KFC Canada presents The #Bitcoin Bucket. Sure, we don’t know exactly what Bitcoins are, or how they work, but that shouldn’t come between you and some finger lickin’ good chicken. https://t.co/2OKuCHk5Hb pic.twitter.com/UwaduB8toi
— KFC Canada (@kfc_canada) January 11, 2018
The company announced this special promotion in a tweet. It had a good time with the promotion, even promising a free bucket to Satoshi, the alleged founder of Bitcoin, saying that he can have it if he reveals his true identity.
As KFC Canada revealed, it is accepting Bitcoin only for a limited time, and only for online orders. The deal comes with 10 chicken tenders, waffle fries, gravy, a side and two dips. Payment is handled by BitPay, a popular Bitcoin payment processor.
Tasty as the chicken may be, one does have to wonder how $20 spent on Bitcoin for a bucket of chicken could be worth $200 a year or two down the road.
All that said, it is an interesting time to be accepting Bitcoin as payment, as transferring Bitcoins can be a really expensive endeavor these days. The average that people are paying is $30 for a transaction, and this used to be $1 not so long ago.
Not to mention the fact that because it’s so valuable, and increasing in value, few people would want to trade it for things like a KFC meal, even a special one like this.
Regardless of that, the first wave has already sold out, with people paying for it with the digital currency.
And while Bitcoin is the only cryptocurrency that KFC is accepting right now, the company did hint in a separate tweet that it is considering expanding that for future promotions. We can expect KFC Canada to follow through with this using other digital coins — like Ethereum, Ripple, or Litecoin.
Nevertheless, this is positive publicity for Bitcoin now.
Finger lickin’ good.