According to HSB, 36% of small-medium businesses in the US accept Bitcoin. The article will introduce the ten most popular Bitcoin-accepting companies, but first, why should your company be the next?
Bitcoin Payment Benefits
Before discussing what brands accept Bitcoin (and other cryptos), let’s investigate why this setup is becoming more popular. BTC’s critical benefits for shoppers are listed below:
Bitcoin’s decentralization is one of its main benefits. A bank or government doesn’t control decentralized coins, but a consensus mechanism validates the transactions. Bitcoin’s decentralized nature favors shoppers, especially since no single entity can control the currency. This makes Bitcoin less vulnerable to inflation and political meddling.
Bitcoin payments are cheaper, especially internationally, since they don’t need intermediaries. This benefits consumers and businesses. To save payment processing fees, more retailers are accepting crypto payments.
Cryptocurrencies settle faster than other payment methods. Cross-border transactions take days to clear, making them unsuitable for buyers who want a quick purchase. Bitcoin’s average confirmation time is 30–60 minutes, according to YCharts. Therefore, the merchant can immediately ship the product after confirming the transaction, indicating complete payment.
Bitcoin gives greater anonymity than FIAT payments, making it a preferable option for consumers. Crypto payments don’t need personal information like names and addresses. However, crypto users should know that their transactions aren’t fully anonymous, as merchants can view the funds’ wallet address, which can be traced back to the owner.
Finally, anyone with an internet connection may use Bitcoin, even without a bank account. Cryptocurrencies are accessible to the “unbanked” in developing countries, one of their key advantages that further benefits merchants by letting them reach untapped consumers.
List of Companies That Accept Bitcoin
Now, let’s talk about the companies that have already adopted BTC as a payment method.
Microsoft was among the first major companies to receive digital currency payments in 2014. It paved the opportunity for further US companies to do the same.
Consumers can purchase particular goods and amenities on the Microsoft platform utilizing cryptocurrency. This operates through customers putting in cash within their Microsoft balances using Bitcoin. After receiving funding, the balance in the Microsoft account can be used for obtaining multiple games, movies, and software.
Cryptocurrency payments are exclusively supported in the Microsoft Store – excluding Xbox Live. Furthermore, the payment process for products at the Microsoft Store with cryptocurrency is enabled by BitPay. Buyers must possess a suitable digital wallet ahead of time.
Gyft presents vouchers for companies like Walmart, Starbucks, Uber Eats, Target, and additional brands. Furthermore, Gyft offers an exclusive mobile application that lets users check their gift card amounts. People can also utilize these prepaid cards directly inside the software. Obtaining gift cards using Gyft is fast and straightforward.
The global fast food chain Burger King has launched Instpower portable charger kiosks that support digital currency transactions at its branches in Paris. These devices are linked to digital payment platforms AlchemyPay and the Binance Pay platform.
In addition to Binance Pay and Alchemy Pay, Instpower, the premier power bank charging service, now enables cryptocurrency payments in assets like Bitcoin from customers at more than 14,000 sites worldwide, per an Alchemy Pay communication on March 27th.
Bitcoin enthusiasts can expect an exciting revelation because Subway is now taking cryptocurrency as payment at three locations within Berlin. This is an element in an experiment using the cryptocurrency network and got a supportive response from its users. The biggest chain globally based on the restaurant count also dabbled in Bitcoin for almost 13 years in Moscow.
AT&T enables subscribers to clear their cell phone invoices using Bitcoin. This action puts its name on a small list of prominent businesses and governmental organizations that rely on blockchain as a payment form.
Although not directly accepting digital currency, AT&T is a leading U.S. mobile provider to enable customers to pay using Bitcoin via a third-party payment gateway. Clients utilizing the online payment service for bills or via the myAT&T mobile app can select BitPay, a digital currency payment facilitator for making transactions. BitPay authenticates the money and takes the Bitcoin on the part of the organization.
Twitch has given subscribers a 10 percent discount when they pay with cryptocurrencies. The company under Amazon’s ownership company declared the transaction on the last day of the week. Clients can settle using Bitcoin, ether, bitcoin cash, XRP, USDC, GUSD, PAX, or BUSD stablecoin. The organization employs U.S.-located BitPay to handle its digital currency transactions.
Although not entirely private, making payments using Bitcoin enables one to purchase a VPN service subscription beyond the reach of financial banks and other institutions. This offers a certain amount of privacy and safeguarding that standard payment methods might not give. The cost for a membership is tied to an identical monetary value that you would invest under different conditions. Therefore, it adapts to the existing Bitcoin rate.
This VPN service is dedicated to safeguarding the confidentiality and safety of its users. It facilitates Bitcoin payments and doesn’t ask for an email ID.
Starbucks accepts virtual currency, cash, and cryptocurrency as payment. This broad term is related to monetary in digital representations, including credit cards, debit cards, and mobile banking. Digital currency represents a relatively emerging type of monetary exchange that is safeguarded through the utilization of secret codes.
Starbucks has been recognized as one of the established businesses incorporating cryptocurrency.
CheapAir allows you to pay in crypto for air travel from major airline companies globally. The tool searches online to find the most affordable and suitable flight choices. In addition, you are confident in making payments at the lowest price. With CheapAir, you can also book a hotel besides reserving flights. Simply choose a place to go, complete the required details, and you’ll be promptly shown affordable, high-quality accommodations, luxurious resorts with excellent amenities, and economical motels.
Accepted cryptocurrencies include BTC, DOGE, ETH, Gemini Exchange, Bitcoin Cash, Wrapped BTC, DAI Stablecoin, BUSD, Paxos Standard, LTC, and SHIB.
The approval of digital currency transactions at Pizza Hut is thanks to their collaboration with Cryptobuyer, Inc., a Central American virtual money payment provider. This has grown highly well-liked with the advancement of virtual currency acceptance in Venezuela. The blockchain company furthermore advertised digital currencies by starting an initial BTC satellite hub inside Venezuela. It has installed digital currency ATMs and collaborated with leading companies nationwide.
Moreover, the pizzeria is among the businesses collaborating with Binance to welcome crypto payments. As a result of its partnership with Cryptobuyer, Pizza Hut will be able to accept crypto payments in the following currencies: Bitcoin (BTC), Ether (ETH), Dash (DASH), Litecoin (LTC), Binance coin (BNB), Tether (USDT), Binance USD (BUSD), Dai (DAI), and XTP.
The expanding collection of internet retailers that embrace cryptocurrency emphasizes a quickly-transforming landscape regarding worldwide trade. Accepting transactions in BTC offers major benefits for both the companies and users. The more awareness around BTC grows, the broader the worldwide transactions will shift from fiat to crypto.