Since their inception more than ten years ago, cryptocurrencies had difficulties entering the mainstream commerce. But as time passes, sentiments are changing toward the inevitability of technology mass adoption. Digital currency, cryptocurrency, or just crypto is conquering new frontiers. Today you can use digital coins to buy everything from food to real estate, and the number of companies that start accepting new currency is steadily increasing.
One of the harbingers of change can be a partnership between Gemini (digital currency company) and Flexa (payments startup) that helps big retailers like Crate and Barrel, Nordstrom, Regal Cinemas, Gamestop, Baskin Robbins, and others to accept several cryptocurrencies, including Bitcoin. It works with the help of the digital scanners that accept phone-based payments. All they need to do is reconfigure them to recognize the cryptocurrency app.
Still wondering who accepts bitcoins in 2020? It is good that we have the list of the major brands from different industries that accept digital cryptocurrency:
Microsoft. Microsoft, a $900 billion tech giant, first began accepting cryptocurrency in early 2014. And though Microsoft announced twice that it would stop accepting Bitcoin, it eventually reversed those decisions. Today you can store your digital coins in your Microsoft account and use them to purchase games, movies, and apps in the Windows or Xbox stores.
Overstock. In January 2014, Overstock, a $650 million retail business that focuses on a resale of home goods and designer brands, became one of the first retailers to start accepting digital cryptocurrency, in particular Bitcoin. Today the company allows customers to pay with all the major digital coins: Litecoin, Dash, Monero, Bitcoin, Ethereum, and Bitcoin Cash. To complete transactions, Overstock uses a digital exchange ShapeShift, that converts currencies in seconds.
Shopify. Shopify is a popular e-commerce platform with more than 500 000 online stores. It was launched in 2004, and in 2013 it introduced the option of accepting Bitcoin payments. Today any merchant that uses Shopify can integrate Bitcoin payments into their online stores.
Bitcoin payments are processed through a partnership with BitPay. According to their research, thousands of Shopify merchants are using the technology today.
AT&T. Telecommunications giant AT&T that is worth more than $200 billion also announced that it would start accepting Bitcoin as a payment for phone bills. The company decided to make a move “for the clients’ convenience” after it was established that many of them were using cryptocurrency. Bitcoin payments for AT&T is also handled by the payment processor BitPay.
Wholefoods. WholeFoods, owned by tech giant Amazon, recently announced that they were accepting Bitcoin payments brought by Gemini and Flexa. Whether Amazon is also planning to start accepting cryptocurrency is unknown at the moment.
Newegg. Newegg, a huge computer hardware retailer with a revenue of $2.7 billion a year, started accepting Bitcoin in 2014. But Bitcoin payments on Newegg are only available to customers from the United States.
Virgin Galactic. Virgin Galactic, worth $7 billion, announced that it would accept Bitcoins as payment and claimed that one client has already purchased a future space trip using cryptocurrency.
Gyft. Gyft is an app that offers to buy, send, and redeem gift cards. Gift cards can be purchased using Bitcoin without any additional fees. The cards themselves are prepaid money cards that may be used to buy goods from companies like Starbucks, Nike, Uber, Apple, and others.
Subway. The first Subway store started accepting Bitcoins as payment in Moscow, in November 2013. The second Subway store that welcomes Bitcoins is located in Allentown, Pennsylvania, the US. Yet it’s still unclear whether these stores are going to start accepting other cryptocurrencies, like Litecoin, Tether, or Ethereum. It’s also unknown if other stores across Subway franchises will ever join this crypto feast.
KFC Canada. KFC Canada has announced a product called the Bitcoin Bucket for a limited time in January of 2018. It happened in the middle of the massive hysteria and raging bull market for cryptocurrencies. This Bitcoin Bucket could have been purchased with Bitcoin directly through the KFC website.
One of the reasons why smaller companies don’t accept digital coins just yet might be the volatility of their price. Still, as the cryptocurrencies evolve, this obstacle should soon be mitigated. And when, for better or worse, the government helps regulate this Wild West of the 21st century, the acceptance of cryptocurrencies will become universal.