Who Accepts Bitcoin Payments? Major Companies That Accept Crypto
now who accepts Bitcoin payments and the major companies that accept crypto; Bitcoin has dominated the cryptocurrency market over the years
Know who accepts Bitcoin payments and the major companies that accept crypto; Bitcoin has dominated the cryptocurrency market over the years and has taken the world by storm. Currently, Bitcoin, the leading and most popular digital currency, has become a legitimate funding source for many businesses. For example, it is now possible to add money to your Microsoft account in encrypted form.
Who Accepts Bitcoin Payments? Major Companies That Accept Crypto
However, Microsoft is not the only company currently accepting cryptocurrencies. In a recent survey by Hartford Steam Boiler, at least one-third (about 36%) of small; and medium-sized businesses in the U.S. now accept Bitcoin as a payment method for goods and services.
So, Bitcoin revolutionized the digital payment system; and provided an alternative way to transfer money for people who couldn’t use traditional banks. So, read on to find out who accepts Bitcoin payments and the major companies that accept crypto.
Who accepts Bitcoin and other cryptocurrency payments?
While blockchain technology is still confusing to most people today, several large corporations in the United States are getting on board. Bitcoin has grown from a hazy virtual currency used by a small percentage of the population to a payment and currency system that millions believe will be the future monetary system.
The following are the major companies that accept crypto:
1 – Microsoft
So, Microsoft became an early adopter of bitcoin in 2014, when it began accepting Bitcoin as a payment method for games, applications, and other digital content purchased from the Microsoft Store for devices such as Windows Phone and Xbox.
Bitcoin was little known in 2014, and many acquaintances had heard of it for the wrong reasons. Mt. Gox, the world’s largest bitcoin exchange, has filed for bankruptcy after a series of frauds, hacks, and incidents led to hundreds of millions of dollars in bitcoin losses in what has been a dramatic and scandalous year.
At the time, a bar in New York City accepted bitcoin, as did some car services and restaurants, but few other well-known businesses – except two.
2 – Wikipedia
Wikipedia, the world’s most comprehensive open-source encyclopedia, welcomes Bitcoin payments and financial contributions. The business that manages it, Wikimedia, employs BitPay as a payment platform.
3 – Paypal
It makes natural that the company that pioneered the road for modern digital payments would be the one to beat Microsoft the most. Microsoft started accepting bitcoin in December 2014 – three months after PayPal came on board in September.
At that time, bitcoin was trading as X.B.T. instead of BTC. As proof of the concept’s unfamiliar, CNN described bitcoin as “an independent, governmentless currency.” PayPal’s move was intended to attract businesses, not consumers, to its platform. The appeal was that bitcoin transaction fees were much lower than the 2% to 3% fee; that kills the profit companies were paying for credit card transactions.
While the initial foray into cryptocurrency allowed merchants to accept bitcoin payments from customers, PayPal has only recently allowed customers to checkout with cryptocurrency as they do with other payment methods, using the PayPal wallet. So, “Checkout with Crypto” automatically converts cryptocurrency to fiat with no integrations or extra fees required by the company, according to a PayPal press release issued last March. Transactions take place using U.S.U.S. dollars.
4 – Starbucks
And in March 2020, just as masks began covering faces in the United States and worldwide, Starbucks announced that it was joining the bitcoin revolution – more or less.
Like Etsy, Starbucks has dipped its toes in the water rather than diving straight into accepting cryptocurrencies as cash. So, you can’t pay for your frappuccinos with bitcoin at the cashier, but you can add bitcoin, gift card balances, and frequent flyer miles; to the Starbucks app and pay that way. The update was made possible by a third-party digital wallet app Bakkt, which converted bitcoin to dollars and made payments not only possible but also quick.
5 – AT&T
AT&T is the first major mobile operator in the United States to offer customers a cryptographic payment option via BitPay, a third-party payment gateway. So, consumers who want to pay using Bitcoin or other cryptocurrencies can choose BitPay at checkout.
6 – Excess stock
The well-known U.S.U.S. online retailer is number one. Before PayPal and Microsoft became crypto assets, Overstock.com paved the way for these giants. In 2018, CNN reported that Overstock is “basically a cryptocurrency company right now,” an exaggeration based on the online retailer’s massive investment in blockchain technology.
By then – before COVID-19 propelled Overstock into one of the hottest e-commerce platforms in the world right now; it was already a Bitcoin veteran. Then, in January 2014, a full nine months ahead of PayPal; and nearly a year ahead of Microsoft, Overstock became the first major retailer to accept bitcoin as a payment method. However, it still doesn’t accept bitcoin on its mobile site. However, please note that the only payment methods you can combine with Bitcoin are Overstock gift cards, store credits, rewards, and Club O vouchers.
7 – Contraction
In 2014, Twitch added cryptocurrency as one of its payment options. The leading Amazon-owned gaming video streaming platform accepts Bitcoin, Ether, Bitcoin Cash, X.R.P., USD Coin, and other lesser-known currencies such as P.A.X., B.U.S.D., and G.U.S.D.
8 – Amazon
So, It still doesn’t accept crypto payments directly, but you can use Purse.io if you want to pay with Bitcoin.
9 – Home Depot
The building materials retailer uses the Flexa digital payment system to accept Bitcoin without purchasing additional hardware.
10 – Whole Foods
So, similar to Home Depot, Whole Foods also uses the Flexa platform. In addition, Flexa can instantly convert cryptocurrencies to dollars, allowing consumers to experience seamless payments using Bitcoin.
11 – Cheap Air
The online travel agency started accepting crypto payments through Coinbase but later switched to BTCPayServer. So, Stablecoins and digital currencies accepted as payment for flights or hotel reservations include BTC, ETH, U.S.D.C., G.U.S.D., and DOGE.
12 – Newegg
So, online electronics giant Newegg accepts bitcoin – and has gone all out. And unlike some others that require you to convert cryptocurrency to cash via a third-party app; or service, Newegg only allows you to pay in cash. Buyers purchasing via a computer must choose “Pay with Bitcoin” and follow the shipping movements. In addition, Newegg will send a Q.R.Q.R. code for shoppers shopping with their phones to scan.
For those looking to start harvesting bitcoins on their own, Newegg also sells cryptocurrency mining starter kits.
13 – Namecheap
So, since 2013, Namecheap has continuously accepted Bitcoin as payment for web hosting and domain name registration.
14 – Rakuten
Rakuten Wallet allows users to load Rakuten Cash using cryptocurrency and accepts altcoins like Ethereum and Bitcoin Cash.
15 – Fast food restaurants
Some fast-food chains that accept cryptocurrencies include Pizza Hut and Burger King in Venezuela, K.F.C. in Canada, Quiznos at Denver Airport, and several Subway branches.
So, in addition to the companies mentioned above, many others have started accepting cryptocurrencies as payment for their products; and services, including A.M.C., Travala, Norwegian Air, Virgin Galactic, JC Penney, GameStop, Gap, Shopify and Dallas Mavericks, Miami Dolphins, Gyft, Pirate Bay, The Internet Archive and various Etsy providers.
From Bitcoin cryptocurrency to Bitcoin casino games
And currently, Bitcoin is considered one of the most convenient banking methods. As a result, online casinos accept BTC in the payment options list. That’s why I decided to pay special attention to this gaming platform.
Furthermore, technology is still very new and evolving rapidly as some of the brightest minds in the world are looking for a way to bring it even further up to date.
The online casino industry is at the forefront of technological innovation, and online casinos are expected to embrace cryptocurrencies – especially BTC. Bitcoin allows quick deposit box users to be secure and encrypted.
In addition to being nearly impenetrable to cyber attacks, bitcoin transactions are also very affordable.
Most popular cryptocurrencies
And what are the most popular cryptocurrencies today? So, according to CoinDesk, the cryptocurrencies that are topping the charts at the moment are as follows:
- Bitcoin (BTC): Originally conceived as a digital payment system, BTC is still the most popular cryptocurrency – highly valued despite periodic declines throughout its history.
- Ethereum (ETH): The value of Ether has increased dramatically since its inception, but it still lags behind the current value of Bitcoin.
- Solana (S.O.L.): Solana quickly gained prominence in selling non-fungible tokens (NFTs), attracting users with its fast transaction speeds and low cost.
- X.R.P.: The encryption used on Ripple’s digital payment network X.R.P. is faster and more efficient in facilitating global transactions.
- Tether (U.S.D.T.): One of the first cryptocurrencies to link its value to a paper monetary system (U.S. Dollar); Tether is today’s most valuable stable coin.
- Cardano (A.D.A.): Cardano is a more scalable and secure way to maintain decentralization that leverages the peer-reviewed blockchain framework Ouroboros.
- U.S. dollar currency (U.S.D.C.): U.S.D.C. is pegged to the U.S. dollar; and is more stable than other cryptocurrencies – ideal for digital payments.
- Stellar (X.L.M.): Built as an open network for moving and storing currency, X.L.M. allows for easy digital money trading.
- Polkadot (D.O.T.): Polkadot’s mission is to enable multiple blockchains to exchange data and complete transactions with each other.
- Polygon (M.A.T.I.C.): This year, your new brand has expanded its use case, resulting in a significant gain in value, going from its Jan. 1 price of $0.01 to its present value of $2.16.
Starts accepting Bitcoin as a payment method and improve your business
The top companies that accept Bitcoin have already taken big steps towards better digital payment systems. While it will take a long time for all companies to accept Bitcoin, there appears to be no way to stop it from gaining in popularity. So, any business can benefit from this trend by adapting to accept cryptocurrencies as a means of payment.
While few places accept Bitcoin directly, it is clear that its acceptance as a payment method is increasing year by year. An example is the emergence of companies like crypto payment gateways that integrate with any business, allowing it to accept Bitcoin and many other currencies.
And so, while we still have a long way to go before all companies accept crypto directly rather than through bitcoin payment processors; or debit cards, Microsoft and Overstock, for example, have already made a step in the right way.