Bitcoin is the first-ever and most commonly known cryptocurrency. Such a massive population is investing in crypto, and resultantly, it is getting rapid recognition and acceptance as a payment method. This payment technology is emerging, and businesses are accepting Bitcoins (BTC). Even though Altcoins (coins other than Bitcoin) are also attracting attention, Bitcoin is the widely used payment method for enterprises. You might also consider knowing about Crypto Trading Techniques in the link provided. In the current year, if your business is accepting Bitcoin and other cryptocurrencies as payments, it is considered a status symbol. Whether it is a promotional campaign or the companies are striving for inclusion in the competition, many firms are taking advantage of it being early adopters. Some of the companies that accept Bitcoin as payments are given below;
Microsoft is considered the early adopter of Bitcoin as it started BTC-based payments back in 2014, a few years after the release of the cryptocurrency. An individual can purchase games & apps with Bitcoins, but these digital currencies were not commonly used in the initial days therefore, Microsoft canceled accepting Bitcoin payments in 2016, and once again in 2018 due to extreme fluctuations. And now, Microsoft has started accepting Bitcoins again. Bill Gates has also passed positive remarks about it by saying, “Bitcoin is better than currency.”
Overstock is running at number one in the shopping and digital currencies field. It is not just limited to accepting Bitcoins as payment but also accepts many other cryptocurrencies in the form of payment. There is an option of holding BTC too. Overstock possesses vendors that are satisfying the needs of the Bitcoin community most appropriately. These vendors are undoubtedly involved in it for the long run and are not utilizing BTC as a marketing tool. An individual can buy household goods and furniture from Overstock and can make a payment in BTC.
It is the major hardware store chain in the US. The acceptance mechanism of Home Depot is massive because it will allow you to build and rebuild your entire house by purchasing materialsfrom Home Depot via Bitcoins. It accepts BTC payments through Flexa’s checkout systems containing digital scanners that are pre-installed in their stores. Another important feature of Home Depot is that it immediately converts the payment received in Bitcoins into US dollars because it prefers its Balance Sheets in USD. In the end, both the parties (buyer & seller) receive what they desire.
Whole Foods is a supermarket company that also allows its customers to make payments via Bitcoins. The mechanism behind Whole Foods’ acceptance of payments is the same as Home Depot’s. It also immediately converts digital currency into US dollars. Amazon is the owner of Whole Foods, but Amazon itself does not accept BTC or any other cryptocurrency for purchases made through it. An application named ‘Spend’ performs all operations, and you can also use Litecoin (LTC) and Gemini dollars along with Bitcoins for the payment of goods from Whole Foods.
Newegg is an online electronics giant that is facilitating its customers by accepting BTC payments. It is popular among the crypto community for buying Crypto Mining Hardware. Contrary to some other businesses that convert digital currency into fiat money through an application or intermediary services, Newegg allows you to pay outright. Customers, who are using a computer for purchasing, have to choose the “Pay With Bitcoin” option, and they are good to go. Similarly, the ones buying through a mobile phone will receive a QR code from Newegg for scanning to make payment.
Twitch is the streaming video platform that is also among the early adopters of BTC and started accepting Bitcoins in 2014. But in 2019, without revealing the reasons, Twitch stopped accepting BTC, and again in 2020, it started its crypto-related operations. Even though there are plenty of advantages to utilizing Bitcoins as a payment method, its volatility does not suit everyone. Twitch also accepts Ethereum (Ether) and several other less-reputed cryptocurrencies for payments. Amazon owns Twitch just like it owns Whole Foods.
These are some of the major market giants that accept Bitcoins as payments, and this is also a reason that their market is rapidly expanding as they are facilitating their customers in all possible ways.