20 September 2021
The world is undisputedly turning into a Digital Ecosystem, and the addition of Cryptocurrency has been proven extremely valuable. Bitcoin was the first Cryptocurrency to make its debut in 2009. Initially, people considered Digital Currencies as scams; however, when they received endorsements from well-known financial leaders, the interest gradually started spiking
Since then, the buying and selling of Cryptos is becoming increasingly mainstream, and the opportunities to spend virtual currencies is also surging gradually. Businesses and individuals have been seeking a universal currency that allows fast transfers with nominal fees for a long time. Cryptocurrencies have been the answer to these problems, as its increasing value over time has been acknowledged by businesses and individuals alike.
Here are some of the biggest and well-known companies that accept Cryptos as a form of payment.
The Tech Giant Microsoft started accepting Bitcoin as a mode of payment for some of its top products in 2014. Bitcoin can be used to buy an array of products like Windows 10 licenses to games, movies, and apps in the Windows and Xbox stores.
The leading e-commerce company is well-known for allowing merchants to sell products via online shops. In 2015, Shopify enabled a Bitcoin payments option through 4 different payment providers such as Coinbase, BitPay, GoCoin, and CoinPayments. It also accepts other Cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
In August 2017, Overstock announced the acceptance of Cryptocurrencies as payment for their service. Along with Bitcoin, they also accept Ethereum, Litecoin, Dash, and Monero. They have collaborated with a digital asset exchange company called ShapeShift to complete transactions. In a fraction of seconds, the company converts the currencies through its blockchain without setting up an account.
The famous travel agency Expedia also accepts Cryptocurrencies in partnership with Travala. Over 700,000 hotels can be booked from the website’s listings with more than 30 different Cryptos, including Bitcoin. However, it should be remembered that once a transaction is activated using crypto, it can’t be canceled.
The American submarine sandwich privately held fast-food restaurant is also following the growing trend of Crypto acceptance for meal items. However, it remains to see if they begin accepting Ethereum, Tether, or any other form of Cryptocurrency soon.
Bitcoin is accepted by PayPal as a form of payment. It utilizes payment processors like GoCoin, Coinbase, and BitPay. It is one of the first companies to initiate Crypto acceptance as payment for transactions completed through them. They also accept other Cryptocurrencies like Ethereum, Bitcoin Cash, and Litecoin.
The Apple Pay app accepts Bitcoins for music or any app purchase. BitPay enables users to purchase Crypto and utilize the app’s prepaid Mastercard in Apple Pay. Apple Wallet and Apple Pay both support the BitPay wallet. The BitPay wallet app also supports additional Cryptocurrencies, including Ether and Bitcoin Cash and dollar-pegged stable coins like USD Coin, Gemini Dollar, Paxos Standard, and Binance USD.
The Amazon-owned streaming platform also accepts Bitcoin and Bitcoin Cash as payment for its services. In March 2019, the firm had disabled this option, but later in June, it was enabled.
Amatil, the drinks’ giant’s bottler and distributor in the Asia-Pacific region, has also enabled Cryptocurrency payment options through its partnership with the Centrapay platform. As of 2020, over 2,000 vending machines in Australia and New Zealand accept Cryptos for payment of drinks.
10. Burger King:
In 2020, Burger King Venezuela stated that it would accept various Cryptocurrencies, like Bitcoin, Dash, Litecoin, Ethereum, and Tether, in collaboration with Cryptobuyer, a firm that handles Cryptocurrency to fiat cash conversions. Following this, Burger King Germany has allowed Bitcoin to be spent on their website and mobile app.
Starbucks started taking Crypto from mid-2020. The company has joined hands with the Bakkt app for storing Crypto and then pay it through the app at Starbucks.
At the end of March, Credit card company Visa confirmed that it was piloting a scheme with Crypto.com to accept Cryptocurrency for settling transactions on its payment network. It takes USD Coin (USDC), a stablecoin Crypto pegged to the value of the US dollar.
13. Home Depot:
The largest hardware store chain in the U.S also takes Bitcoin for all housing supplies through Flexa’s in-store checkout systems installed in their stores. It makes utilizing Bitcoin for payment extremely simple, as Gemini’s cooperation with Flexa has eliminated all of the hurdles often associated with Bitcoin transactions.
The CEO of electric carmaker Tesla Elon announced earlier this year that it would accept Bitcoin payments for vehicle purchases in the US. However, Tesla temporarily halted Bitcoin transactions until more than 50 per cent of tokens are mined using renewable energy.
The famous mobile carrier becomes the first within its industry to offer a Crypto payment option to its customers. You can now purchase new cellular plans through BitPay using Bitcoin or any other Cryptocurrency you hold.
5 Easy Steps to Add Cryptocurrency as a Payment Option
- Choose a Payment-processing Provider.
- Set up an account.
- Choose which currency you wish to use.
- Enable payments for your currency of choice.
- Decide how you’ll cash out.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.