Seattle bar latest to accept bitcoin currency

A Seattle bar has become the latest establishment to accept payment through the digital currency bitcoin.

A bar in Seattle has become one of the first in the area to promote the use of virtual currency bit coin

Volstead Act was one of the first bars in the Seattle area to accept a transaction through the virtual currency, an alternative to credit and debit cards.

According to The Seattle Times, the customer in question conducted a US$24 transaction after being presented with a tablet screen which translated the bill into bitcoin value.

Users typically purchase bitcoin currency online and download a digital “wallet” for their smartphone.

Bitcoin supporters claim that the currency is more secure than other electronic payments as the transaction can be carried out leaving no way for information of the buyer to be traced.

Commentators also claim that the method is a good way for business such as bars and restaurants to carry out transactions as it eliminates a service fee often levied on credit or debit cards.

This week, overstock.com became the first large online retailer to accept bitcoin payments, with the company reporting 780 orders within the first 24 hours.

the drinks business also recently reported that a New Zealand winery became the first in the southern hemisphere to use bitcoin.