Image: File Photo
A local coffee house is creating a buzz in the Okanagan, but not in the way you might think.
Bean to Cup Coffee House is home to Vernon’s first and only cryptocurrency ATM, in other words, it deals in Bitcoin.
Bean to Cup owner Kunal Chander was approached in May by Crypto Embassy, a national company with cryptocurrency ATM’s in Toronto, Vancouver, and Kelowna that wanted to put a machine in Bean To Cup.
“Just by fluke they came through the cafe… and (they thought) this guy, it would probably be good to have an ATM at this location,” said Chander. “And, there was nothing in Vernon at the time, and one thing led to another.”
It wasn’t long before Chander started seeing more and more people using the machine.
“I started seeing people from Salmon Arm, Kamloops, and all these areas. I’ve been surprised at the demographic, from the oldest to really young people, basically, they were all in here putting cash in, buying Bitcoin.”
The value of cryptocurrencies like Bitcoin and Litecoin has skyrocketed in recent months, and investors are clamouring to secure their share.
In May, one Bitcoin was worth roughly $2,000. Since then, its value has since increased to more than $16,000.
“It’s kind of cool to be able to say that we’ve helped a lot of people make some good money over the last little while.”
While you can’t buy a cup of coffee at Bean to Cup with your Bitcoins at this time, Chander thinks it won’t be long before you can.
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