The Case for Accepting Bitcoin as a Business in South Africa

Bitcoin isn’t just a store of value or digital gold — it’s increasingly being used as a medium of exchange, both globally and right here in South Africa.

You only have to look at the growing list of SA businesses already accepting it, from major supermarkets like Pick ‘n Pay with over 1000 locations, to Bootlegger Coffee with 80 + stores, and even smaller local shops like Vuyisa Kwallo’s Shop.

As Muhammad Bayat of Lighting Warehouse puts it:

"The customers who use BTC tend to be early adopters and active supporters of the business, even though the adoption of BTC payments is still in its infancy."

But what’s driving this adoption? And, more importantly, why would a business even consider accepting BTC in the first place?

In this post, we break down the key benefits of accepting Bitcoin, from lower transaction fees to reaching new customers. You’ll also hear directly from South African business owners about why they made the switch and how it’s working for them.

So, Why Accept Bitcoin?

Here's why more businesses in South Africa are saying yes to Bitcoin and why you may want to as well.

1. Reach New Customers and Get More Sales

There’s a growing number of Bitcoin holders looking to spend their BTC rather than just HODL. Accepting Bitcoin opens the door to these tech-savvy customers who are actively searching for places to spend it. 

Michael, the owner of Good Morning Shop, has seen this firsthand. He shared that he now has more clients and that business is growing because customers who hold Bitcoin are choosing to shop with him.

In short, accepting BTC gives you access to a currently underserved, but growing, market of loyal early adopters. 

2. Stand Out as an Innovative and Forward-Thinking Business

Accepting Bitcoin also sets your business apart. It signals that you’re modern, tech-forward, and open to innovation.

“We began accepting Bitcoin (BTC) payments to position ourselves at the forefront of financial innovation in South Africa,” explains Muhammad.

“We understand the industry’s evolving nature and the potential of decentralised finance. We offer a payment option that is borderless, swift, and upholds the principle of self-custody. As a customer, convenient and privacy-centric payment options are a must, and Bitcoin neatly fulfils that requirement.”

3. It’s Great for Marketing and PR

“We accept Bitcoin” is also a conversation starter. It gives your business a story to tell and a reason for others to talk about you. That’s free PR, and when paired with action, it’s even more powerful.

Take the U.S. burger chain, Steak’ n Shake. When they announced they were accepting BTC via Lightning in all their stores, it became a massive talking point with media outlets picking it up and customers sharing it across social channels.

But they didn’t stop there. They leaned in, launching limited-edition Bitcoin-themed menu items (Burger, Milkshake, and Super‑Sized Meal) and running a “Steaktoshi” campaign across their social media channels.

The results?

At the Bitcoin 2025 Conference, COO Dan Edwards revealed their Bitcoin payment success: 

• On the first day of the launch (May 16th, 2025), 1 in every 500 Bitcoin transactions globally happened at Steak ’ n Shake locations.
• They now save 50% in processing fees compared to credit cards.
• Sales increased because of crypto-curious customers and the extensive media coverage.

The key takeaway:  “We accept Bitcoin” has more marketing legs than you might think. But the businesses that fully embrace it, not just accept it quietly, see the best results.  

4. You Get Paid In the Hardest Form of Money

Bitcoin is often described as “the hardest form of money”.  But what does that actually mean? 

Unlike fiat currencies like rands, dollars, or euros, where governments can print more at will, Bitcoin’s supply is capped at 21 million coins. That cap is hardcoded, making Bitcoin scarce by design and resistant to inflation.

As a result, Bitcoin functions like digital gold, allowing it to retain its value over time. But it has advantages gold doesn’t: you can easily move it across borders and spend it anywhere with internet access.

Bitcoin is also decentralised: No government, institution, or single party controls it. Decentralisation locks in the monetary rules, making it nearly impossible to inflate the supply or change how it functions.

That’s why many business owners see Bitcoin as the future. 

“We started accepting BTC on Lightning because we see it as the future of money,” says Trevor of Laughtons Gas. “Transitioning to a currency free from government or organisational control is liberating and allows for a more efficient economy—one not bound by overreach.”

5. You Save on Payment Fees and Protect Your Margins

With Bitcoin, especially Lightning, you can cut down on credit card fees. That means more money in your pocket and healthier margins. 

Johan of Franschhoek Wine Tours explains:

“We’re paying around 3.5% in fees on traditional payments. With Bitcoin, there are no intermediaries skimming off the top. Plus, it makes it easier for tech-savvy customers to pay us directly.”

6. Protect Your Business from Payment Fraud

If you’ve ever dealt with a chargeback, you know how frustrating and costly they can be. Credit cards are reversible, and scammers know how to exploit this vulnerability. They can file disputes after receiving a product or service, leaving you to fight with the bank while your money hangs in limbo.

This is especially painful for businesses selling digital goods, offering online bookings, or working with international customers.

Bitcoin is different. Once a transaction is confirmed, it’s final. There’s no way for customers to reverse it and no bank to mediate disputes, meaning you effectively shut the door on fraud to begin with.  

7. Faster Cross-Border Payments

For businesses working with international clients (e.g. freelancers and consultants), cross-border payments can be a headache. Bank wires are slow, expensive, and restricted by hours and holidays. Services like PayPal, SWIFT, or Wise can still take 1–3 days to settle, especially in South Africa.

Bitcoin changes that. Payments clear in minutes with no middleman, delays, or banking hours.

Ready to Start Accepting Bitcoin?

From cost savings and fraud protection to new customers and powerful word-of-mouth marketing, accepting Bitcoin can give your business a serious edge, especially in a market like South Africa, where adoption is still early.

If you’re ready to take the next step, why not check out our follow-up guide: How to Accept Bitcoin as a Business in South Africa? 

We break down the basics of getting started from peer-to-peer wallet setups (like Blink and Phoenix), which are ideal for small businesses, to using gateways like MoneyBadger or FiveWest, which are best for larger operations.

‍