Spokane Bar Now Accepting Bitcoins As Payment - Spokane, North Idaho News & Weather KHQ.com

Spokane Bar Now Accepting Bitcoins As Payment

Posted: Updated:
Volstead Act on North Post in downtown Spokane is one of – if not the – first business in the city to accept bitcoins as payment. The bar started taking them last week and has already had its first bitcoin transaction. Volstead Act on North Post in downtown Spokane is one of – if not the – first business in the city to accept bitcoins as payment. The bar started taking them last week and has already had its first bitcoin transaction.
SPOKANE, Wash. -

If you're tech-savvy you probably know exactly what a bitcoin is and how it's used. But for the rest of us, suffice it to say bitcoins are a form of digital currency accepted online.

But now, you can pay your real-life tab with them.

Volstead Act on North Post in downtown Spokane is one of – if not the – first business in the city to accept bitcoins as payment. The bar started taking them last week and has already had its first bitcoin transaction.

"You technically have your wallet in your brain," bartender Ash Hayden told KHQ's Kelsey Watts.

Assuming customers already are familiar with bitcoins and have a digital wallet, when you come in to Volstead Act you may as well leave your wallet at home. Your entire payment transaction is done on an iPad and your smart phone.

"All I do is hit send and it's instantly done, just like that," Hayden demonstrated.

But – as with any new technology – you need to do your research. Because the exchange rate fluctuates by the second and isn't regulated by any bank or government, bitcoin can bite you.

"You need to understand that it's speculative, that it's high risk," Hayden added.

However, Hayden believes it's a win-win. Volstead Act saves money on credit and debit transaction fees and doesn't have to wait a day or two for a bank to clear the money. He says it's a win for you, too, because you don't present a card that can be compromised by a skimmer or employee with less than honest intentions.

"If you give them your credit card, well anyone on staff can write down your information and go on a shopping spree the next day. That's happened to me before," he said.

If you need a little incentive to get into the digital game, Volstead Act will give you $1 off each cocktail you pay for with bitcoin. As of Monday afternoon, 1 bitcoin was worth more than $840 dollars.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Remembering Beau Weiher: Montana man dies in Glacier National Park

    Remembering Beau Weiher: Montana man dies in Glacier National Park

    Monday, September 15 2014 5:01 PM EDT2014-09-15 21:01:41 GMT
    WEST GLACIER, Mont. (AP) - A 22-year-old Montana man has died, possibly after attempting an illegal BASE jump in Glacier National Park. The National Park Service was notified at Saturday night that Beau Weiher, of Missoula, was overdue from a solo day hike in the Many Glacier Area.>>
    WEST GLACIER, Mont. (AP) - A 22-year-old Montana man has died, possibly after attempting an illegal BASE jump in Glacier National Park. The National Park Service was notified at Saturday night that Beau Weiher, of Missoula, was overdue from a solo day hike in the Many Glacier Area.>>
  • First date ends with man dead, woman hospitalized

    First date ends with man dead, woman hospitalized

    Tuesday, September 16 2014 9:44 AM EDT2014-09-16 13:44:21 GMT
    TACOMA, Wash. (AP) - Pierce County sheriff's detectives know this much: a first date ended with a Gig Harbor, Washington, man dead and his date hospitalized in critical condition.The News Tribune reports that investigators think the 47-year-old Port Orchard woman ran over her date, then crashed his truck 15 feet down an embankment.>>
    TACOMA, Wash. (AP) - Pierce County sheriff's detectives know this much: a first date ended with a Gig Harbor, Washington, man dead and his date hospitalized in critical condition.The News Tribune reports that investigators think the 47-year-old Port Orchard woman ran over her date, then crashed his truck 15 feet down an embankment.
    >>
  • WATCH: Rarely seen 9/11 Budweiser commercial that aired only once

    WATCH: Rarely seen 9/11 Budweiser commercial that aired only once

    Thursday, September 11 2014 8:52 PM EDT2014-09-12 00:52:54 GMT
    KHQ.COM - This Budweiser commercial was produced after the September 11th terrorist attacks. However, it hasn't been widely seen because Budweiser only aired it once so as not to benefit financially from it - they just wanted to acknowledge the tragic event.>>
    KHQ.COM - This Budweiser commercial was produced after the September 11th terrorist attacks. However, it hasn't been widely seen because Budweiser only aired it once so as not to benefit financially from it - they just wanted to acknowledge the tragic event.>>
  • Top Stories from KHQTop StoriesMore>>

  • VIDEO: Girl gets attacked by bullies; Spokane Police ask for your help

    VIDEO: Girl gets attacked by bullies; Spokane Police ask for your help

    Tuesday, September 16 2014 1:16 PM EDT2014-09-16 17:16:49 GMT
    SPOKANE, Wash. - A video surfaced on YouTube on September 13th that shows a girl getting attacked by bullies. The girl looks to be in middle school or high school and the title of the video said that this occurred in Spokane. Spokane Police tried to get in touch with the person who posted the video, but as soon as they did, the video was taken down.>>
    SPOKANE, Wash. - A video surfaced on YouTube on September 13th that shows a girl getting attacked by bullies. The girl looks to be in middle school or high school and the title of the video said that this occurred in Spokane. Spokane Police tried to get in touch with the person who posted the video, but as soon as they did, the video was taken down.
    >>
  • Action Cam: Spokane Civic Theatre's 'Fiddler on the Roof' Debuts Friday!

    Action Cam: Spokane Civic Theatre's 'Fiddler on the Roof' Debuts Friday!

    Tuesday, September 16 2014 12:19 PM EDT2014-09-16 16:19:11 GMT
    Civic Theatre's "Fiddler on the Roof"Civic Theatre's "Fiddler on the Roof"
    SPOKANE, Wash - This timeless musical magically weaves the story of a people steeped in tradition who must come to terms with a changing world. Fiddler has captured the hearts of people all around the world for fifty years with its moving score including “Matchmaker, Matchmaker”, “If I Were a Rich Man”, and “Sunrise, Sunset”. Winner of nine Tony Awards.The opening show, on Friday, September 19 will be held in conjunction with the Civic Theatre's 68th Annual Gala!>>
    SPOKANE, Wash - This timeless musical magically weaves the story of a people steeped in tradition who must come to terms with a changing world. Fiddler has captured the hearts of people all around the world for fifty years with its moving score including “Matchmaker, Matchmaker”, “If I Were a Rich Man”, and “Sunrise, Sunset”. Winner of nine Tony Awards.The opening show, on Friday, September 19 will be held in conjunction with the Civic Theatre's 68th Annual Gala!>>
  • Wash. man arrested for fatally shooting dog

    Wash. man arrested for fatally shooting dog

    Tuesday, September 16 2014 9:53 AM EDT2014-09-16 13:53:50 GMT
    BELLINGHAM, Wash. (AP) - Authorities say a Bellingham man fed up with barking fatally shot his neighbor's dog in front of her. But the 13-old-month corgi was not the barking dog. KIRO News reports that 55-year-old David William Latham faces charges of felony animal cruelty and other gun charges.>>
    BELLINGHAM, Wash. (AP) - Authorities say a Bellingham man fed up with barking fatally shot his neighbor's dog in front of her. But the 13-old-month corgi was not the barking dog. KIRO News reports that 55-year-old David William Latham faces charges of felony animal cruelty and other gun charges.
    >>