3 June 2023
10 Major Cryptocurrency Payment Adopters of 2022
The Cryptocurrency sector had unprecedented growth in 2018. Several Cryptocurrencies, like Bitcoin, reached all-time highs during a massive bull run, with Bitcoin's price reaching a staggering USD 69000. Many companies have joined the Cryptocurrency trend after seeing its possibilities. In 2021, major companies such as Starbucks, Microsoft, AT&T, and others began accepting Cryptocurrency payments. Several analysts had anticipated that corporate uptake of Cryptocurrencies would slow down after the Cryptocurrency market recovered from its recent slump. However, unexpectedly, this has not occurred. As time goes on, more and more well-known businesses demonstrate their confidence in Cryptocurrencies by taking them as payment.
Also Read: 5 Finest Metaverse Cryptocurrency To Beat Bitcoin In 2022
Several individuals are curious about Cryptocurrency because of its recent prominence. Although some large corporations already accept Cryptocurrency payments, many others still do not.
Also Read: What Happens If India Bans Cryptocurrency?
In 2022, the following six companies will definitely adopt Cryptocurrency payments:
After Gucci's lead in May 2022, Balenciaga accepted Cryptocurrency payments, making it the second Kering Group luxury brand to do so. However, the French label will only take Cryptocurrency in its New York and Beverly Hills flagship locations and on its website. In addition, Bitcoin as well as Ethereum are the only supported Cryptocurrencies for purchases, while support for more Cryptocurrencies is planned.
One of the largest corporations in the globe, Microsoft, is now accepting Cryptocurrency payments. This represents a huge development for the market as well as evidence that businesses are beginning to see the value in embracing Cryptocurrency. To further their knowledge of blockchain technology, they are doing extensive studies.
If ever a business started taking Cryptocurrency, it's this one. Chipotle, a prominent Mexican fast food business, announced on June 2nd, 2022 that it will accept Cryptocurrency payments at each of its 2,950 locations in the United States. It's even more astounding when you consider that it supports 98 different Cryptocurrencies, such as Bitcoin, Ether, as well as 7 stablecoins supported by the US dollar. Thus, Chipotle joins the ranks of other fast food as well as restaurant businesses like Subway, Starbucks, Taco Bell, and so forth., who accept Cryptocurrency as payment.
PayPal, one of the globe's major payment processors, has said that it would begin taking bitcoin and other digital currencies in 2020. This represents a monumental step forward for the Cryptocurrency industry, as it will attract additional public attention to virtual currencies and could even sway the public's perception of their legitimacy. PayPal's decision to start accepting Cryptocurrency payments comes after similar moves by other prominent corporations like Starbucks and Amazon. This bodes well for the Cryptocurrency industry since it demonstrates widespread enthusiasm for the innovation as well as the eagerness of major corporations to embrace it.
5. Tag Heuer
The luxury watchmaker Tag Heuer has joined the ranks of those who accept Cryptocurrency as payment. With the help of BitPay, the Swiss luxury label is now accepting Cryptocurrency payments from clients in the United States. Bitcoin, Ether, Dogecoin, as well as a handful of stablecoins are just some of the Cryptocurrencies accepted throughout the firm's extensive watch as well as accessory catalog.
Overstock.com would be an early adopter of Bitcoin as a payment option. Both Ethereum as well as Litecoin are accepted as payment methods at this virtual store. Overstock said they will begin taking Dash, another prominent Cryptocurrency, in January of 2017.
Shopify is a major player in the e-commerce industry. Recently, it formed a partnership with Crypto.com to facilitate the acceptance of up to twenty different Cryptocurrencies by its merchants. These Cryptocurrencies include Bitcoin, Ether, Doge, the Shiba Inu token, as well as Cronos. Better still, there will be no transaction costs and just a 0.5% settlement charge. Furthermore, all settlement costs were fully covered till June 30th, 2022.
8. Whole Foods
Whole Foods Market is just a nationwide supermarket which has started accepting Cryptocurrencies. In 2017, the business started taking bitcoin, and since then, additional Cryptocurrencies like Ethereum and Litecoin have been added to the list. It was revealed at the beginning of 2018 that the firm will be expanding its current Cryptocurrency compatibility to include other virtual currencies. As per Whole Foods Market spokesman Deirdre Schuon, the grocer's acceptance of Cryptocurrencies is a component of its plan to be an early adopter in distributing affordable and convenient dining choices to customers who want to try new technologies". The retail outlet also provides discounts on transactions made with Cryptos.
One of the leading airlines in the United Arab Emirates, Emirates, stated on May 29th, 2022 that it will begin taking Cryptocurrency payments shortly. The Chief Operating Officer of Emirates said that it is actively employing software developers. He also said that the firm's online store will soon begin selling Non-Fungible Token collectibles.
Etsy is a worldwide platform where consumers as well as retailers can meet each other online. Etsy is a marketplace where items may be bought and sold using a number of different payment options, like bitcoin. Several Cryptocurrencies, including bitcoin, bitcoin cash, ethereum, as well as litecoin, were added as payment options after the corporation made the announcement in January of 2018. It is a major marketplace that welcomes Cryptocurrency payments.
A lot of businesses are starting to take Cryptocurrencies, so if you're trying to find out which ones, you're in luck. You can find a comprehensive list of businesses that take Cryptocurrencies like Bitcoin, Ethereum, and many others, right here. If you put in the time and effort up front, you might locate a firm that is just right for you.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.