So, if you are concerned about crypto becoming mainstream, take a look at some of the companies that are accepting Bitcoin already. Although, this is nothing new. For example, companies like Dish Network have been taking payment in crypto as far back as 2014 through Coinbase as their payment processor. Although, this was probably just a gimmick to get free advertising more that an acceptance of crypto since Coinbase took payment from the customer and converted it directly to the US dollar to pay Dish. Dish and companies like them were never in any real sense taking crypto as a payment.
These companies below are much more open to crypto.
Overstock
Overstock is currently leading the way in the shopping and cryptocurrency field. Overstock goes as far to accept multiple kinds of cryptocurrency, not just bitcoins. Not only is Overstock accepting bitcoin but they are holding it too! Theses are the types of vendors that serve the bitcoin community in the best possible way! They are clearly in it for the long haul and not simply using Bitcoin as a marketing ploy.
Home Depot
Home Depot is the largest Hardware Store Chain in the United States. Home Depot’s acceptance is huge because it means you can essentially build you entire house by purchasing materials using Bitcoin. Home depot accepts Bitcoin payments via Flexa’s checkout systems installed in their stores. This makes it super simple to checkout using Bitcoin since Geminis partnership with Flexa has taken out all of the friction traditionally involved with Bitcoin payments.
Whole Foods
Whole foods is partnered with Winklevoss Flexa spending app ‘Spedn’. Using the Spedn app, you can buy all your whole food groceries using Bitcoin, Litecoin, or the Gemini dollar with no problems. The Spedn app doesn’t just limit you to whole foods though. Regal Cinemas, Gamestop, Jamba Juice, and Baskin Robbins are among the many other merchants now willing to take the jump into Bitcoin.
Pavilion Hotels & Resorts
As the latest company to permit crypto transactions, the Hong Kong-based Pavilion Hotels & Resorts group has also become the first international hotel chain to embrace virtual currency payments. The group - which owns properties in Amsterdam, Madrid, Lisbon, and Rome as well as Bali and Phuket - will accept bookings using 40 different tokens, including Bitcoin and Ethereum from July through their partnership with payment platform Coindirect. As of the start of April, the insurance broker behemoth will allow customers in Switzerland to use Bitcoin as a payment option for their bills. The decision to embrace cryptocurrencies has been in the pipeline since market research conducted by the company in 2019 found that nearly a third of respondents aged 18 to 55 had either already invested in them or were interested in doing so. Customers will now have a reference code printed on bills for non-life insurance policies in order to pay their premiums through crypto exchange Bitcoin Suisse which will then convert them into Swiss Francs.
Microsoft
As one of the largest software companies in the world, it is significant that Microsoft accepts Bitcoin payments, going some way to instill a degree of confidence in using cryptos. Redeemed for credit in topping up user accounts, Bitcoin can be used to pay for an array of services, including Xbox Live and Skype. The company’s interest in crypto technology doesn’t end there. Utilising blockchain, Microsoft has also launched ION, a two-layered authentication platform on the Bitcoin network in late March. Instead of payments, the technology creates digital IDs to authenticate online identities.
Starbucks Following an extensive trial, Starbucks customers can now use the new Bakkt app to pay for drinks and goods at the coffee chain with converted Bitcoin. According to the app’s creators, 500,000 people took up the invitation-only, early access programme to test the digital wallet as a method of payment.
Tesla
The CEO of electric carmaker Tesla Elon Musk has an up and down relationship with Bitcoin. Initially, the company announced earlier this year that it would accept Bitcoin payments for vehicle purchases in the US. It comes off the back of a $1.5 billion (€1.2 billion) investment in the cryptocurrency by Elon Musk’s company in February. However, this has now been turned on its head with pronouncements that Tesla will put Bitcoin transactions on hold until more than 50 per cent of tokens are mined using renewable energy.
Amazon
It was reported earlier this year that Amazon was joining the ranks of other tech giants, including Facebook, in laying the groundwork for its own exclusive cryptocurrency. That said, the e-commerce company doesn’t directly accept cryptos yet. You can, however, buy Amazon vouchers through crypto-only company Bitrefill, a platform that makes living on cryptocurrencies easier by converting Bitcoin into gift cards, refill phones, and so on.
Visa
Credit card company Visa confirmed at the end of March that it was piloting a scheme with platform Crypto.com to accept cryptocurrency to settle transactions on its payment network. It will now accept USD Coin (USDC), a stablecoin crypto that is pegged to the value of the US dollar.
PayPal
Following an announcement in October last year, PayPal users in the US can now buy, sell or hold a select few cryptos, including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. In addition, you’ll be able to track cryptocurrencies through the PayPal app. The only drawback is that money can’t be transferred out of the company’s digital wallet. In August, the company announced that users in the UK can now also trade in Ether, Litecoin and Bitcoin Cash on PayPal's website and mobile app.
Sotheby's
Renowned auction house Sotheby's first began accepting cryptocurrency as payment in late June and has since firmly embraced both cryptos and NFTs. Since it announced it now accepted cryptos, it accepted Bitcoin as payment for a rare 101 carrat diamond which sold in July for $12.3 million (€10.4 million). It became the most valuable item ever bought with cryptocurrency at an auction. Where lots are listed as "cryptocurrency payments," the auction house will accept both Bitcoin and Ether as payment. There are certain restrictions, however, as payments will only be accepted through certain approved exchange wallets, including Coinbase.
Coca Cola
Amatil, the drinks’ giant’s bottler and distributor in the Asia-Pacific region, has enabled cryptocurrency as a method of payment through its partnership with the Centrapay platform. As of 2020, there are now over 2,000 vending machines in Australia and New Zealand which are geared to accept cryptos to pay for drinks.
Expedia
Travel giant Expedia is one of the most prominent travel agencies to accept Bitcoin through its partnership with crypto-friendly travel booking platform Travala. You can now book 700,000 hotels from the website’s listings with more than 30 different cryptos, including Bitcoin.
Lush
Lush was one of the first global companies to adapt to the use of cryptocurrencies, fully embracing them in 2017 when the handmade cosmetics company started to allow Bitcoin payments for orders on its website through a partnership with Bitpay.com.
Resources