When Bitcoin (BTC) was created about 12 years ago, it undertook a payment revolution: the ability to transmit money without the use of a bank as a middleman.
It suggested, among other things, that billions of unbanked individuals (those who don’t have access to regular banking services) could be able to cease relying entirely on cash.
• Travala.com has its cryptocurrency, AVA, whose value has roughly quadrupled since mid-July.
• In 2015, Rakuten began accepting Bitcoin as a payment method. The firm began with Rakuten.com in the United States as part of a worldwide Bitcoin rollout before spreading the new service to its equivalents in Germany and Austria.
• Although Etsy does not have a framework for accepting Bitcoin as payment across the board, the independent sellers that fill the marketplace can take cryptocurrency in their stores if they so want. It is the seller’s responsibility to include an “other” payment method option at checkout.
A lot has transpired since then, as today there are approximately 11,000 cryptocurrencies and over 400 cryptocurrency exchanges.
However, a variety of problems such as environmental concerns, volatility, and transaction costs have limited bitcoin’s growth as a means of payment.
However, some of the top global companies do accept cryptocurrencies, and the following are 15 of them:
1. Whole Foods
In May 2019, Flexa, a payments startup, partnered with Gemini, a digital currency company owned by the Facebook-famous Winklevoss twins.
The infrastructure developed by the cooperation enabled large merchants to integrate Flexa into the digital scanners they already used to take phone-based payments via Apple Pay and other digital wallets.
For smooth purchases, the system quickly transformed Bitcoins into dollars. Whole Foods was one of the first large shops to embrace the technology.
Overstock.com was an early adopter, accepting Bitcoin as early as 2014. It is actively working with Coinbase to accept Bitcoin payments on its website. The online store has also established Medici Ventures, a blockchain-focused investment firm.
Cardano (ADA), Bitcoin, Ethereum (ETH), Dogecoin (DOGE), and other cryptocurrencies are accepted by the online travel provider. It has also collaborated with Binance Pay and Crypto.com. Customers may use the exchangers’ applications to pay for their hotel stays. Travala.com even has its cryptocurrency, AVA, whose value has roughly quadrupled since mid-July.
PayPal clients in the United States may not only purchase and sell cryptocurrency but also use it to make payments.
You may choose Checkout with Crypto and pay using Bitcoin, Ethereum, Litecoin (LTC), or Bitcoin Cash as long as you have enough cryptocurrency in your wallet (BCH).
This implies that cryptocurrency payments may be made at any of the 30 million retailers that accept PayPal.
AT&T in 2019 became the first mobile service to accept bitcoin payments. It accomplishes this using BitPay, a third-party payment processor. Customers who use Bitcoin or other cryptocurrencies can use BitPay when they check out.
Starbucks‘ partnership with third-party payment service Bakkt allows you to buy your morning coffee using cryptocurrency. The Bakkt App allows you to purchase, sell, and trade cryptocurrency, and you can use Bitcoin to pay at various Bakkt partners, including Starbucks.
Bakkt has also partnered with Cantaloupe, Wyndham Hotels & Resorts, and, most recently, Quiznos to allow consumers to pay using Bitcoin, loyalty points, or airline miles.
SEE ALSO: How to Get Bitcoin Loans Without KYC
Since 2013, CheapAir.com has accepted cryptocurrency payments and accepts a wide variety of currencies. A variety of digital currencies and stablecoins, including Bitcoin, Ethereum, Dogecoin, Gemini Dollar (GUSD), and USD Coin, can be used to pay for your flight or hotel reservation (USDC).
8. Dallas Mavericks
For more than two years, billionaire Mark Cuban’s NBA club has been accepting cryptocurrency payments.
Fans of the Mavericks may purchase tickets and goods in a variety of popular currencies, including Bitcoin, Bitcoin Cash, Ethereum, USD Coin, Gemini Dollar, Binance USD (BUSD), and Dogecoin.
Dogecoin was the most recent addition to their cryptocurrency portfolio. The company opted to take Dogecoin “because sometimes in business you have to do things that are enjoyable, engaging, and ideally generate a lot of PR,” according to Cuban.
BitPay is also used by the Mavericks to handle cryptocurrency payments.
SEE ALSO: Where to Find and Use a Bitcoin ATM
Newegg, the online electronics retailer, now takes Bitcoin – and they’ve gone all-in. Unlike some of the others, Newegg does not force you to convert cryptocurrency to cash via an app or third-party business.
If you’re ordering from a computer, all you have to do is select “Pay With Bitcoin” and go through the shipping process.
When customers use their phones to make purchases, Newegg will send them a QR code to scan. Newegg also provides cryptocurrency mining starting kits for anyone wishing to get started collecting Bitcoins on their own.
In 2015, Rakuten began accepting Bitcoin as a payment method. The firm began with Rakuten.com in the United States as part of a worldwide Bitcoin rollout before spreading the new service to its equivalents in Germany and Austria.
Rakuten accomplished this by incorporating the Bitnet payment processing infrastructure into its own markets.
It has now launched Rakuten Wallet, which now supports cryptocurrencies such as Bitcoin Cash and Ethereum. Users may now use crypto assets to charge their Rakuten Cash balance.
Although Etsy does not have a framework for accepting Bitcoin as payment across the board, the independent sellers that fill the marketplace can take cryptocurrency in their stores if they so want.
It is the seller’s responsibility to include an “other” payment method option at checkout. When purchasers select that option, they will be able to message the buyer with their payment choices – in this example, Bitcoin.
To finalize the transaction, the seller answers with a Bitcoin address. The Etsy Community forum features a Bitcoin-specific page with tips on how merchants may advertise that they take Bitcoin and how to make the transaction run smoothly.
Twitch is the 800-pound behemoth in the streaming video platform market. Twitch, like Whole Foods, is owned by Amazon. It, too, takes cryptocurrencies — and not just Bitcoin — like Whole Foods. Users can pay with Bitcoin, Bitcoin Cash, Ether, as well as lesser-known currencies like BUSD, PAX, GUSD, USDC, and XRP.
Twitch was an early adopter of cryptocurrency, adopting it as a payment option in 2014. That, however, came to an end in 2019 when Twitch quietly discontinued its Bitcoin service. Twitch, on the other hand, restored that feature in June 2020, much to the surprise of its crypto-savvy viewers.
13. Yum Brands
Yum Brands is one of the world’s top restaurant corporations, including well-known brands such as KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill.
For a brief period, Bitcoin was accepted as payment at KFC Canada, with goods such as the Bitcoin Bucket advertised to Bitcoin holders. This was made possible thanks to a partnership with BitPay.
Another of the company’s restaurant chains, Pizza Hut, has announced that it will take Bitcoin and other cryptocurrencies in Venezuela. For this project, the firm collaborated with Cryptobuyer.
If you want to purchase a brand new BMW, you can now buy it using Bitcoin cryptocurrency, since there are so many dealers who accept it today, especially local auto shops situated in the UK that provide such advantageous buying alternatives to clients.
Most Bitcoin users spend their cryptocurrency on luxury goods and things, and with such goods and services now available in the automobile sector, these consumers are more likely to buy automobiles with digital currencies in the future.
BMW has made an important step toward assisting a larger number of people wishing to acquire premium automobiles by accepting bitcoins as payment.
Microsoft, the technological behemoth, has also begun to accept bitcoin, allowing users to purchase online games and software.
Microsoft had to temporarily cease taking bitcoin due to significant volatility concerns, but has recently overturned this decision and is once again enabling users to buy things online using bitcoin.
Frequently Asked Questions (FAQs)
Is it possible to convert Bitcoin to cash?
Yes, you may trade Bitcoin for cash at a Bitcoin ATM or a Bitcoin exchange.
Is Bitcoin accepted at Amazon?
No, Amazon does not accept Bitcoin payments. Purse.io, on the other hand, allows you to buy things on Amazon indirectly using Bitcoin.
What Can I Purchase Using Bitcoin?
Today, practically everything can be purchased with Bitcoin using Bitcoin debit cards. These cards, which are issued by Visa or Mastercard, may be loaded with Bitcoin.
Bitcoin came into existence in 2009 and has now established itself as a pioneering cryptocurrency that is now being used as a global means of payment by companies all over the world.
Despite its restrictions in some climes, it is believed that in the future, this will become a thing of the past.
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