Honey Rider Bar & Brewery has gained a following in Sydney over the past decade. Now, the decision to accept Qoin has attracted business from interstate craft beer devotees.
Owner Phil Cahill opened the Neutral Bay bar in 2011. Six years later, he installed a small brewery to indulge his passion for pilot brewing. Locals enjoy sampling new brews, alongside favourites such as Easy Ale, GFY XPA and B1 Pilsner.
Customers are encouraged to use Qoin at the bar. However, Phil has recently discovered that accepting crypto payments also allows him to draw customers from further afield.
“Here are these guys in downtown Perth celebrating getting some slabs of beer from little old me in Sydney. I never thought I’d be selling to people over the Harbour Bridge let alone over this great land of ours,” he says.
“Did I get rich? No, but I’m on my way with a sale I’d never have had without Qoin.”
The Gold Coast is another promising customer base for cans and packaged products. While interstate freight costs are often expensive, Phil says Qoin can cover the beer costs, so people just pay cash for postage.
A new way in business
Phil registered with Qoin in November 2020, after he heard about a friend’s experience. He built his stake to almost $15,000 in Qoin by Christmas.
He believes Qoin has the potential to change how business is conducted. Crypto-friendly merchants from the Qoin directory, Facebook and Bartercard community have helped him save thousands of dollars on purchases of vodka, gin, chemicals and cleaning products.
“I knew that the guy with the cleaning products used to be on Bartercard—he got on Qoin on day one,” he says.
“I haven’t used him for a while and it was good to be able to trade with him again on Qoin.”
Services are also available through the Qoin network. Phil recently used a carpenter and was impressed with his work. He paid using Qoin, but was able to refer the tradie to a relative who paid cash.
Reaping the rewards
Phil’s Qoin Wallet has come in handy to buy furniture, pay for car repairs and take the family out for meals.
Honey Rider Bar staff have received Christmas bonuses in Qoin. And earlier this year, Phil opened wallets for his two children.
“They were pretty happy and they’ve got their own mobile phones, of course, so they’re able to log in and see what it’s trading for,” he says.
“I guess in years to come they might be looking at buying cars and stuff like that. If the value’s gone up, it could be helpful for them.”
Considering the long-term benefits
Phil advises those who are new to Qoin to be patient and open to opportunities.
“I’m getting benefits now but I think bigger benefits might be down the track: the value going up, more merchants coming on board, more countries getting involved,” he says.
“Everyone wants everything to be perfect straight away but I think it’s still a very new system of doing things and I think it’s just exciting where it can go.”