Cryptocurrency is always in the spotlight these days. Buying and selling cryptocurrency is becoming more and more popular, and opportunities to spend virtual currency are pretty limited. However, every day, a growing number of companies accept digital currency as the official method of paying for their goods and services. Let’s take a look at the largest and most famous of them.
Microsoft is one of the leading software companies in the world, accepting payments in cryptocurrency. To some extent, this contributes to building trust and confidence among people in using digital coins. Microsoft has been accepting bitcoin on its Xbox online store since 2014.
The company’s interest in crypto technology doesn’t end there. Using blockchain, Microsoft also launched ION, a two-tier authentication platform on the Bitcoin network, at the end of March. Instead of payments, the technology creates digital IDs to authenticate an online identity.
This year, it has already been reported that Amazon is joining some other tech giants, including Facebook, in laying the groundwork for its exclusive cryptocurrency. However, the e-commerce company does not yet accept cryptocurrency directly. However, users can buy Amazon vouchers through the cryptocurrency company Bitrefill, a platform that makes life easier with cryptocurrencies by converting bitcoins into gift cards, top-up phones, and more.
Credit card company Visa confirmed in late March that it is testing a scheme with the Crypto.com platform to accept cryptocurrency to settle transactions on its payment network. The process was costly, complex, and time-consuming. Therefore, Visa has offered to allow digital currency settlement through the public blockchain through its partner Anchorage, the first federally registered digital asset bank.
After two years of infrastructure upgrades, Visa decided to try out a new program using USD Coin, and a stable cryptocurrency pegged to the value of the US dollar.
PayPal is one of the few popular mobile and online payment platforms that allows US users to buy, sell, and store cryptocurrencies. If you have enough cryptocurrency in your wallet, you can select the “Checkout with Cryptocurrency” option and pay using Bitcoin, Ethereum, Litecoin or Bitcoin Cash.
PayPal also received the first-of-its-kind Bitlicense conditional license from the New York State Department of Financial Services (NYDFS).
The first airline company to approve bitcoins as a fare back in 2014 was the Latvian airline airBaltic. According to the company, it has processed over 1,000 bitcoin transactions since it launched the payment option. The following year, another Eastern European airline, LOT Polish Airlines, followed suit.
Twitch is a video streaming service specializing in computer games, including streaming gameplay and eSports tournaments.
Using bitcoins to pay for subscriptions is a great way to support your favorite streamers while staying private.
In 2016, Burger King establishments in the Netherlands started accepting bitcoin, but the adoption didn’t stop there. In 2019, Burger King Germany and Burger King Venezuela began accepting Bitcoin payments through orders on their website.
According to a 2020 study by HSB, cyberspace insurance and verification company, 36% of SMEs accept payments in cryptocurrency.
However, if you are considering paying with cryptocurrency, be aware of possible taxes. But in any case, the world is moving towards a digital currency, which can significantly simplify and speed up payments worldwide.