CNBC

The coventry nightclub has hopped on the bit-coin band wagon, making it the first in the UK to accept the cryptocurrency as a form payment, despite general wariness to the currency and banks still not recognising it’s legitimacy.

Kevin McCloskey, owner venues S7ven and Daddy Cools, will allow entry and drinks to be paid with Bit-Coin. Speaking to the McCloskey explained that Bit-Coin is a logical step towards the future, “With cryptocurrency the very hot word on everybody’s lips right now, myself and venue manager Renan Santos have spent several weeks casually discussing this subject and the fact that this actually not so new online currency option is clearly becoming the future the payment world and the future in general.

“We initiated talks with a payment processor who can work in real time transactions meaning soon people can genuinely order a round drinks at the bar in S7ven or Daddy Cools, scan our QR code and pay instantly from there online bitcoin wallet.”

Bit-Coin’s growth has been fluctuating in recent months, but it seems businesses are still keen to get on board. So are cryptocurrencies the future in your opinion?