Anannenburg will start accepting Bitcoin as a payment method in its restaurants in 2017.
The German-based restaurant chain announced the move at the first Bitcoin conference in the United States this week, where it presented its Bitcoin Cash wallet to a packed room of media members.
The move marks an apparent shift for the chain as it continues to compete with the likes of Chipotle and Papa John’s in the restaurant business.
The decision comes after a year-long process of trial and error.
“For a long time, we were waiting for the right moment,” Anannenberks marketing director Michael Bock said at the conference.
“And finally we got it.”
Bock was referring to the fact that the chain began accepting Bitcoin in January of this year and, after a few months, began to see a big rise in adoption.
“Our business is really about finding a way to use bitcoin that’s more transparent, more secure,” Bock told attendees at the event.
“There are a lot of people in this industry who use bitcoin to pay their bills, and we have to be able to do the same.”
Bocks goal is to make Bitcoin payments as frictionless as using credit cards or checking accounts.
While the company hasn’t officially confirmed the Bitcoin Cash network, Bock explained that the network will be built on top of the Ethereum blockchain, which allows for greater transaction capacity and lower fees.
This will make the chain a “much safer” alternative to Visa and MasterCard, he added.
In order to use Bitcoin Cash, you will need to register on the Anannensenzentrum bitcoin cash website and create a Bitcoin address.
You will also need to be approved by the company, which will verify your identity.
This process can take up to a week, depending on the number of transactions.
Once the network is up and running, the company will allow customers to purchase items with Bitcoin Cash for $5.
Bock added that Anannanenberg will be adding a bitcoin wallet to the store by the end of the year.
Ananneners first restaurant in the U.S., which opened in November, will offer “slightly less traditional fare, but it will be worth the trip,” Bocks co-founder and CEO Christian Fuchs said.
The Anannens will also offer an in-store Bitcoin Cash card that will be available to customers at participating restaurants in the country.
Bitcoin Cash transactions are limited to 1 Bitcoin, which makes the currency less liquid than Bitcoin.
In the U, however, the price of Bitcoin Cash has increased by nearly 400 percent in the past year, according to CoinMarketCap.com.
A major reason for this surge is that it’s more widely accepted in the mainstream, with more merchants accepting the currency.
As a result, Bitcoin Cash prices are higher, making it a good way to make payments without any fees.
“I think this is really a good time for Anannies customers,” Bicks co-owner Christian Faughel said at a conference in September.
“It will be very convenient for them.”
Faugher added that the company was “very excited about this.”
For now, the brand has no plans to switch its approach to accepting Bitcoin Cash payments, but Bock noted that Annies customers should be prepared for an increased amount of Bitcoin cash transactions.
“We’re going to see more and more transactions with Bitcoin in the future, and with Bitcoin we expect more and better products for customers,” he said.
Bocks plan for Ananners customers in 2017 is to focus on the Bitcoin cash-based service, which he expects to be “a little bit less traditional” than its current offering.
An anneers brand has been steadily increasing in popularity in recent years.
According to an October report from Euromonitor International, Anannschuld’s shares rose 5.3 percent in 2017 to around $539 per share, while its market cap was just $7.9 billion.
The brand’s growth has been fueled by a growing number of consumer and tech-related brands adopting the digital currency.
For example, Ananner’s first foray into the digital space was its introduction of Bitcoin-related apps in 2013.
However, the Ananens’ digital offerings were limited to the app stores and web portal, which have been largely ignored by traditional brands.
In 2016, Anans first major acquisition was a deal with Coinbase, which led to the chain launching its own app store in 2017, Anndner Digital.
The chain has also been aggressively expanding its Bitcoin wallet service, where customers can deposit Bitcoin at retailers like Overstock.com and Paypal.
The company has also made strides in other areas.
In November, Annans parent company, Anschuld, acquired the popular app app, Gilt, and the company announced that it would be launching a new digital payment platform called GiltPay.