A bar, where customers pay for their food and drinks with Bitcoin is coming to Bury.

Satoshi's Place, on Broad Street, wants to educate interested visitors on the world of Bitcoin.

Although customers can pay by cash or card (Fiat money), they will be encouraged to use Bitcoin and given a small amount to ‘play around and learn with’.

Lee Richards, volunteer at Satoshi's Place said: “It is really a new kind of money that is much more efficient and better than pounds or the traditional way of paying

“We want to try to encourage people to get to know how to use it rather than just seeing it as an investment.

“It is a digital currency so that means there's not one person, company or government controlling it, no one is in charge and it's got a hard cap.

“There's only ever going to be 21 million bitcoins so, in theory, it should be inflation proof and the price will go up as demand increases”

Bury Times: Inside Satoshi's Place, Board Street.Inside Satoshi's Place, Board Street.

 The bar is set to open on Friday, September 16, serving Bitcoin-inspired cocktails like 'Negroni Nakamoto', 'Brave Bull' or a 'Lightning Fast'.

Despite the value of the digital currency standing at around £18,000 today, Lee is confident that customers can make safe investments.

He said: “The price has dropped quite a bit from where it was in last November but people tend to focus on the short term.

“If you take a step back and look at it as a longer-term investment, maybe three or four years, it is different.  I don't think anyone's lost money  

“This time four years ago it was around $12,000.”

Bury Times: Inside Satoshi's Place, Board Street.Inside Satoshi's Place, Board Street.

Lee explained that Bitcoin is like pounds and pence with the fraction of a Bitcoin called a Satoshi’s.

There are 100 million Satoshi to a Bitcoin.

This is what Satoshi's Place will trade in, customers will be able to see the prices in three values, pounds, Satoshi’s or fractions of a Bitcoin.

Staff and volunteers will be on hand to guide customers through the process and even give you some free bitcoin to get you going.

The venue will have games such as a guess the combination game, pay to play Bitcoin-powered gumball machine, a retro arcade and claw machine, unique Bitcoin merchandise and Bitcoin art.

There will also be a Bitcoin Miner, that has been converted into a hand dryer in the toilets. 

Bury Times: Inside Satoshi's Place, Board Street.Inside Satoshi's Place, Board Street.

Lee said: “As the project develops the team will also be launching a charity to help with the education side of the venture and are building the framework to help support the opening of further hubs around the UK.

“We want to create a UK-based non-profit charity that raises Bitcoin to donate to people just so they can have a play with it.”

Satoshi's Place will open from Friday, September 16, from 5 pm until 10 pm.