Bitcoin (BTC) promised a payment revolution when it was initially presented 12 years ago: the capacity to send money without the involvement of a bank as an intermediary. It suggested that the billions of unbanked individuals (those who don’t have access to regular banking services) would be able to quit relying on cash entirely.
Since then, a lot has transpired. Over 11,000 cryptocurrencies and 400 cryptocurrency exchanges are available. Approximately 14% of American people possess cryptocurrencies, with many more planning to do so. Furthermore, El Salvador just declared Bitcoin to be legal tender.
A number of issues, including environmental concerns, volatility, and transaction costs, have stymied crypto’s rise as a form of payment. However, some major corporations, such as these seven, accept cryptocurrencies.
Overstock.com, an early adopter, began accepting Bitcoin in 2014. It has partnered with Coinbase to accept Bitcoin payments on its platform. Medici Ventures, a blockchain-focused investment firm, has also been created by the online retailer.
The online travel company accepts Cardano (ADA), Bitcoin, Ethereum (ETH), Dogecoin (DOGE), and other cryptocurrencies.Binance Pay and Crypto.com are also partners. Customers can use the exchangers’ applications to pay for their hotel stays. Travala.com has even developed its own cryptocurrency, AVA, which has roughly doubled in value since mid-July.
PayPal customers in the United States can use cryptocurrencies not just to buy and sell it, but also to make payments with it. You can 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 means that crypto payments can be made at any of PayPal’s 30 million merchants.
In 2019, AT&T made history by being the first cell carrier to accept bitcoin payments. BitPay, a third-party payment processor, facilitates this. BitPay is a payment option for customers who pay using Bitcoin or other cryptocurrencies.
Starbucks’ partnership with third-party payment service Bakkt allows you to pay for your morning coffee with cryptocurrency. The Bakkt App allows you to purchase, sell, and trade cryptocurrency, and you may pay with Bitcoin at a number of Bakkt partners, including Starbucks.
Customers can purchase using Bitcoin, reward points, or airline miles at Cantaloupe, Wyndham Hotels & Resorts, and, most recently, Quiznos.
Since 2013, CheapAir.com has accepted cryptocurrency payments and now takes a wide range of coins. You can pay for your airline or hotel reservation with Bitcoin, Ethereum, Dogecoin, Gemini Dollar (GUSD), and USD Coin, among other digital currencies and stablecoins (USDC).
- Dallas Mavericks
The NBA franchise of billionaire crypto phile Mark Cuban has been accepting cryptocurrency payments for more than two years. The Mavs accept Bitcoin, Bitcoin Cash, Ethereum, USD Coin, Gemini Dollar, Binance USD (BUSD), and Dogecoin as payment methods for tickets and goods.
The most recent addition to its cryptocurrency list was Dogecoin. “Sometimes in business, you have to do things that are interesting, engaging, and ideally generate a lot of PR,” Cuban said of the team’s decision to take Dogecoin. BitPay is also used by the Mavericks to process cryptocurrency payments. Find out more at live crypto news.