KFC Canada Now Accepting Bitcoin As Payment

KFC Canada Now Accepting Bitcoin As Payment

Bitcoin has seen a turbulent year so far with the cryptocurrency behaving erratically after a major dip in its value toward the end of 2017. KFC Canada officially introduced this Bitcoin Bucket saying, Welcome to 2018 Canada!

For a limited period of time, KFC is selling a bucket of fried chicken for $20 presented in a bitcoin-themed container demonstrating the price of the fried chicken bucket at the time of the sale.

In total, the bitcoin-themed bucket of fried chicken costs just over $27, including the $20 price of the bucket itself, taxes, and shipping fee.

With this publicity stunt, KFC now joins a fast-growing list of companies to hop on the cryptocurrency bandwagon. The problem is Bitcoin network and its underlying scalability issues.

While the actual Bitcoin at KFC price changes in realtime to match a standard price of $20, it may not be the best choice to use this payment method for reasons other than the high fees.

Second-layer and off-chain scaling solutions including Lightning and Ethereum's Plasma are capable of processing near-instant payments with significantly low fees.

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The cryptocurrency is already accepted by a range of major companies including Microsoft, Expedia.com, Overstock.com, as well as at a number of fast-food franchises globally. The post provides a link to a digital ordering hub that allowed users to make a payment using the Bitcoin payment service provider BitPay.

A limited-time marketing promotion for a "Bitcoin Bucket" was launched Thursday afternoon by the quick-serve restaurant chain - so limited, in fact, that it appeared to sell out of the ten-piece chicken buckets entirely between 10 a.m. and 11 a.m. ET on Friday.

"The consumer's experience begins right when they place the order online, and payments is a critical component of that experience".

The promotion is also highlighted on Twitter, where KFC Canada alluded to Bitcoin's alleged founder, Satoshi Nakamoto, a pseudonym for one or several unknown individuals who launched the virtual currency.

KFC considers other cryptocurrencies as well and mentions it on Twitter.

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