Many businesses are beginning to accept bitcoin as a form of payment. According to a survey conducted by HSB, 36 percent of small-medium enterprises in the United States accept Bitcoin. The following are the most popular Bitcoin-accepting businesses in the world today:
Microsoft, as one of the world’s leading software businesses, accepts Bitcoin payments, which goes a long way toward instilling trust in the use of cryptos. Bitcoin, when redeemed for credit and used to top up user accounts, can be used to pay for a variety of services, including Xbox Live and Skype.
The company’s interest in blockchain technology does not stop there. Microsoft also introduced ION, a two-layered authentication tool on the Bitcoin network, using blockchain in late March. Instead of money, the technology generates digital IDs that are used to verify online identities.
Visa revealed at the end of March that it was testing a scheme with cryptocurrency platform Crypto.com to accept cryptocurrency to settle transactions on its payment network. It will now take USD Coin (USDC), a stablecoin cryptocurrency whose value is tied to the US dollar.
Following an announcement in October of last year, PayPal users in the United States can now purchase, trade, or hold a limited number of cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. You’ll also be able to track bitcoins using the PayPal app. The only disadvantage is that funds cannot be moved from the company’s digital wallet.
The business stated in August that consumers in the United Kingdom can now trade Ether, Litecoin, and Bitcoin Cash on PayPal’s website and mobile app. So far, PayPal has been tight-lipped about its plans to spread the service to other countries.
Through its relationship with the Centrapay platform, Amatil, the beverages giant’s bottler and distributor in the Asia-Pacific area, has enabled cryptocurrency as a mode of payment. As of 2020, there are over 2,000 vending machines in Australia and New Zealand that take cryptocurrency to pay for drinks.
Twitch is the streaming video platform’s 800-pound giant. Twitch, like Whole Foods, is owned by Amazon. It, too, takes cryptocurrency — and not just Bitcoin — like Whole Foods. Users can pay with Bitcoin, Bitcoin Cash, Ether, and lesser-known coins such as BUSD, PAX, GUSD, USDC, and XRP. Twitch was an early adopter of cryptocurrency, adopting it as a payment option in 2014. That, however, came to an end in 2019 when Twitch quietly discontinued its Bitcoin service. Twitch, on the other hand, restored that feature in June 2020, much to the surprise of its crypto-savvy viewers.
Starbucks announced their participation in the Bitcoin revolution — sort of — in March 2020, just as masks began to cover faces across America and the world. Starbucks, like Etsy, dipped its toes in the water before going headfirst into taking cryptocurrency as payment. You can’t pay for your Frappuccinos with Bitcoin at the register, but you can add Bitcoin to the Starbucks app, along with gift card balances and frequent-flyer miles, and pay that way. This advancement was made possible by Bakkt, a third-party digital wallet tool that translates Bitcoin to dollars to make payments not only possible, but also quick.