Accept Bitcoin : Overview
Individuals without conventional bank accounts now can send and receive money via the Bitcoin digital payment system. In this article, you’ll learn about the most prominent cryptocurrencies and retailers that take Bitcoin.
Who is interested in Bitcoin and other digital currencies?
Most people have no idea what blockchain technology is, yet there are a large number of businesses in the US that are already using it. Many individuals believe that Bitcoin, which started out as a nebulous virtual token utilized by just a small percentage of the population, has the potential to become the world’s next major currency.
Cryptocurrency payments are accepted by these top 10 players:
- Microsoft;
In 2014, Microsoft’s Microsoft Store for Windows Phone and Xbox devices was one of the first to accept bitcoin as payment for games, software, and other digital products.
At the end of 2014, just a few people had heard of Bitcoin, and when they had, it was for the wrong reasons. Due to a series of scams, hacks, and blunders, the biggest bitcoin exchange in the world Mt. Gox was forced to file for bankruptcy.
- PayPal:
PayPal is the second option for making payments; you might have expected Visa or MasterCard to beat Microsoft in regards to bitcoin acceptance. Exactly three months after PayPal started taking bitcoin in September of 2014, Microsoft began doing the same.
You may send and receive money using cryptocurrencies through PayPal in the United States, and you can also purchase and sell them. Bitcoin, Ethereum, Litecoin (LTC), and even Bitcoin Cash (BCH) may be used to pay for goods and services at checkout (BCH). PayPal’s 30 million businesses will be able to accept bitcoin payments.
- Whole Foods;
Whole Foods was one of the first big shops to use this technology. In May of 2019, a cryptocurrency dam broke when payments startup Flexa to begin with, partnered up with the Winklevoss brothers’ digital currency company Gemini. By integrating Alexa into their digital scanners, large merchants may accept payments through Apple Pay and other digital wallets, thanks to the infrastructure built up by the partnership.
- Starbucks;
Just as people throughout the globe started to wear face masks, Starbucks stated it was embracing the bitcoin revolution in March 2020.
Starbucks, like Etsy, took a cautious approach to taking bitcoins as a form of payment. You can’t purchase bitcoin at the cashier, but you can add bitcoin, gift card balances, and frequent shopper points to the Starbucks app. Bakkt, a third-party digital wallet application, made payments feasible and rapid by converting bitcoin to dollars.
- AT&T;
A third-party payment processor, BitPay, is the first major U.S. mobile phone operator to give clients a bitcoin payment option via AT&T When paying with Bitcoin or another cryptocurrency, customers may use BitPay as a payment option.
- Overstock
The first big US business to accept cryptocurrency. Coinbase has partnered with this famous online store. The fact is that Overstock accepted bitcoin long before PayPal and Microsoft.
- CheapAir.com;
Customers of CheapAir.com may now pay for their tickets with bitcoin, as of 2013. It’s now possible to pay CheapAir.com directly using the Bitcoin network, or you may use a compatible wallet to pay for both hotels and flights with a wide variety of other digital currencies. A list of accepted cryptocurrencies on the CheapAir.com website shows that the company takes a variety of digital currencies in addition to traditional ones such as USD coins, such as bitcoin, and bitcoin cash.
- Home Depot.
The Winklevoss/Flexa technology, which enables Whole Foods to accept bitcoin using its existing digital scanners, is also embraced by Home Depot.
Businesses have struggled with figuring out how to accept bitcoin since balance statements have to be presented in US dollars, regardless of the kind of money they receive. In a matter of seconds, Flexa transforms bitcoin into dollars, meeting both parties’ demands. For purchases of paint and Ryobi equipment, customers may use bitcoins, and Home Depot will get the same amount in US dollars in return.
- Wikipedia;
Open-source encyclopedia Wikipedia allows contributions in Bitcoin and in hard currency. BitPay, the payment platform utilized by Wikimedia, the organization in charge of the website, is the one in use.
- NewEgg.
Cryptocurrency mining equipment seller Newegg is a well-known brand in the cryptocurrency market. There are many various types of computer equipment available, all at different price points.
NewEgg began accepting bitcoin as payment for their hardware after realizing its prominence in the cryptocurrency industry.
Conclusion:
Many establishments do not now accept Bitcoin as a form of payment, however, it is becoming more common as a form of payment over time, regardless of this fact; Cryptocurrency payment gateways enable any company to accept Bitcoin and other cryptocurrencies via an interface are one example of this.
Only a few organizations have already taken the required steps to begin accepting Bitcoin directly, rather than via payment processors or Bitcoin debit cards.
- Do Hotels Accept Bitcoin?
The majority of lodging establishments do not accept Bitcoin as a form of payment. Expedia used to accept Bitcoin as payment for travel reservations, however that service was discontinued in June of last year due to abuse.
- What can I buy with Bitcoin?
Almost everything can now be purchased with Bitcoin using debit cards. AndVisa or MasterCard do load their Cards with Bitcoin.
