Thank you for your interest in crypto currency and Helicon Brewing!
We have created this FAQ to address questions of any potential crypto customers. If you have a question or concern that is not addressed below, please let us know! Questions and comments can be emailed to crypto@heliconbrewing.com.
Q: How does paying a bill work?
A: Paying with cryptocurrency at Helicon Brewing is easier than paying with a credit card. When the time comes to pay your bill, simply let the bartender know that you would like to pay with crypto and the crypto type; for example, Monero (XMR). The bartender will generate a receipt showing the amount of the chosen cryptocurrency due and a QR code for the deposit address. You will then deposit the amount due at the printed deposit address. After a brief interval, the length of which depends upon the type of cryptocurrency used, the bartender will get a notification of the deposit and close out the bar tab.
Q: How does tipping work?
A: The printed receipt will show the amount of crypto owed to pay the bill and will also show some suggested tip percentage amounts. Any amount of overpayment above the total due will automatically become a tip for the staff.
Q: Does it cost anything to pay with cryptocurrency?
A: It is actually cheaper to pay with cryptocurrency! To incentivize our guests to consider paying with cryptocurrency, we apply a 2% discount to all purchases made with cryptocurrency. The transaction fees are paid by the customer–these are based on the type of cryptocurrency and are usually very small.
Q: Which cryptocurrencies do you currently accept?
A: At this time we accept Monero (XMR), Ripple (XRP), Stellar Lumens (XLM), Bitcoin (BTC), Dogecoin (DOGE), Nano (NANO), Ethereum (ETH), Bitcoin Cash (BCH), Cardano (ADA), Chainlink (LINK), Dash (DASH), Litecoin (LTC), Shiba Inu (SHIB), and USD Coin (USDC).
Q: Will you consider ever accepting <insert unsupported crypto type here>?
A: Maybe! Adding a new cryptocurrency to our list is trivial. The one limitation is that we can only accept cryptocurrencies supported by Kraken. If you have a cryptocurrency that you are looking to use, please let us know!
Q: Why do you use Kraken?
1) They support the cryptocurrency Monero.
2) They are by all accounts the most reputable and fair exchange that exists today with among the lowest transaction fees and minimum deposit requirements.
3) Their API to access deposit information is key to this all working. It is possible that Binance or other exchanges will be added in the future.
Q: What program are you using to accept cryptocurrency payments?
A: The owner of Helicon Brewing, Chris Brunetti, was a software developer before opening the brewery. He has written the entirety of the code himself.
Q: Can my business be set up to accept cryptocurrency?
A: Yes! We need some time to fully stress test the code. Once it is ready, it should be straightforward to get new businesses set up. If you would like to be added to our list of businesses interested in accepting cryptocurrency payments, please email us at crypto@heliconbrewing.com.
Q: How is the exchange rate for cryptocurrency payments determined?
A: At the time the request is made to pay the bill, the software obtains the current “ask” price from Kraken. This rate is printed on each bill. If the customer is unhappy with the rate, they may choose instead to pay with cash or a card. Helicon Brewing reserves the right to not accept a particular cryptocurrency for any reason most notably if it is a volatile day.
Q: What do you do with your cryptocurrency you receive as payments?
A: We cash out the vast majority of the crypto we receive every evening and use it to pay our bills. Except for Monero–we transfer that to our Trezor Model T conveniently located on our boat.
Q: You mention Monero a lot, why?
A: We believe that when the dust settles, the scams are over, the rug pulls are done, and adoption is significant, Monero will be the best and most popular cryptocurrency out there. The details are beyond the scope of this FAQ, but we’d love it if you stopped in to talk about it!