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Yelp adds bitcoin feature

By Allison Ross · Bankrate.com
Tuesday, April 29, 2014
Posted: 5 pm ET

Consumers who have bitcoin burning a hole in their digital pockets now have a new way to find nearby places that accept the virtual currency.

Yelp announced Monday that it is adding a flag on its site that merchants can use to denote whether or not they accept bitcoin as payment.
Via Yelp.

Via Yelp.

A growing number of businesses have begun accepting the cryptocurrency in recent months as its popularity has surged. In January, Overstock.com became one of the largest retailers to date to take the plunge in accepting bitcoin.

A few sites, including CoinMap.org, already have attempted to note which businesses accept bitcoin for payment. Yelp's announcement may further mainstream the idea of accepting bitcoin and could help provide better centralization of which companies do accept the cryptocurrency.

"We're constantly thinking about how to make our business attributes more useful for consumers and businesses. That’s why we're excited to announce that as of today, we're adding a new attribute: 'Accepts Bitcoin: Yes,'" Yelp says in its blog post announcing the addition.

Still, businesses must go to Yelp to identify themselves as accepting bitcoin, so the new Yelp attribute will be far from perfect in pinpointing participating businesses.

Bitcoin isn't the only cryptocurrency out there, although it's certainly the largest and best known. Bankrate has a slideshow and a story about different altcoins out there.

Have you ever tried to use bitcoin or other virtual currencies at a business? We want to hear about your experience.

Follow me on Twitter: @allisonsross.

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