Last updated on December 9th, 2024 at 10:31 am
Have you been searching the internet for giant companies that accept cryptocurrency, or do you think it’s not possible? Read through this article to know whether it’s possible.
Recently, cryptocurrency has gained more traction across the globe for its fast and seamless transactions. Although online shopping is prominent among people, the addition of crypto payment methods has opened new opportunities for businesses.
Some people prefer holding cryptocurrency as an investment, while others use it for purchases of goods and services. The impact of COVID-19 has replaced in-person shopping considering people were indoors for a long time, and this has made cryptocurrency widely accepted.
What is Cryptocurrency?
Cryptocurrency is a digital asset for secure and seamless transactions. Cryptocurrency can be used to purchase goods and services online. Cryptocurrencies are fungible; that means they’re the same when bought, sold, or stored and aren’t regulated by any central authority.
Cryptocurrency vs. traditional currencies
Traditional currencies are printed in paper form to be carried or saved in a bank. They can be used for purchases, and they’re reproduced by the government. Cryptocurrency has no central or government influence. While traditional currencies can be held or saved in a bank, cryptocurrency is stored in digital wallets against loss or theft.
Advantages of Cryptocurrency
Cryptocurrency has gained more participation considering its market cap of $2.57 Trillion, this has led to the growing acceptance of cryptocurrency.
Decentralization
With cryptocurrency user’s personal information is protected which provides a sense of privacy to customers. Customers can conduct transactions without any investigation by authorities.
Lower fees
Cryptocurrency charges lower fees compared to other shopping financial services to facilitate payment and receipt.
Wider adoption
The borderless payment of cryptocurrency using the internet has broadened its adoption across the globe. It’s available to all genders across the globe, unlike financial institutions that demand unrealistic terms before they allow someone to acquire or access financial services.
Security
Cryptocurrency provides enhanced security through cryptography to secure digital assets. Unless someone accesses your private key they can’t sign transactions or access funds.
Disadvantages of Crypto payment
Recently the trading fees of crypto have been rising unlike in the past when the fees were negligible. This has posed a threat to the wider acceptance of cryptocurrency. The volatility of cryptocurrency prices is considered another bane for crypto users causing loss of assets coupled with unregulated attributes of the space that can lead to irreversible digital assets when scammed.
Top Content Management Systems
| Gateway | Woocommerce | Shopify | Magento |
| BitPay |  |  |  |
| Blockonomics |  |  | |
| Coinbase Commerce |  |  | |
| Coingate |  |  | |
| Crypto.Com Pay |  | ||
| NOWPayments |  |  |  |
Above is a compilation of the most popular crypto gateway for the top content management system. Although some of the gateways provide plugins to integrate payment seamlessly Such as BitPay and NOWPayments
Online Stores Accepting Crypto Payment
1. AMC Theatres
AMC Theatres is a top movie exhibition Co-founded by Edward Durwood, Barney Durwood, and Maurice Durwood to bring premium movies to every home. According to their CEO Aaron Adam, AMC encountered a turnaround in revenue during COVID-19 from 148.3 Million to 785.7 Million considering the influence of NFT and crypto.
2. Microsoft
Microsoft is a pioneering tech giant offering software solutions to over 1 Million businesses across the globe. In December 2014 Microsoft decided to start accepting Bitcoin for its online Xbox and Windows software. This partnership has broadened the acceptance of Microsoft products and services.
3. Starbucks
Starbucks is a top American cafe company that promotes holistic experience through combined function, and culture. It has its headquarters in Seattle, Washington with more than 35,000 stores across 80 countries. Starbucks offers customers the opportunity to make payments with iPayYou Bitcoin wallet for any assorted and converts the digital assets to USD instantly through Bitcoin Direct to Starbucks.
4. AT&T
American Telephone and Telegraph Inc (AT & T) is a world-leading telecommunications company founded in October 1983. AT&T connects everyone to job opportunities, healthcare, and educative content through affordable and accessible Internet. In May 2019 AT&T announced its partnership with BitPay, a top crypto exchange platform to provide payment options for its customers.
5. PayPal
PayPal is a renowned e-commerce payment software with over 194 million active users globally. PayPal offers customers live chat, phone support, and 1.50% off every commercial transaction. To broaden its payment alternatives, PayPal allows its customers to buy, sell, and store cryptocurrencies directly and this is seen as a masterpiece to compel more customers.
6. Newegg
Newegg Commerce Inc. is a top online retailer of computer hardware and consumer accessories. Since 2014 Newegg adopted crypto payment for secure and seamless transactions. Refunds of purchases can be processed directly to BitPay or as a Newegg gift card by following Newegg’s terms and conditions.
7. Expedia
Expedia a top tourist and traveling company that helps travelers pay for hotels and accommodations. According to BitcoinNews, over 700,000 hotels now accept cryptocurrency to make booking of hotels and traveling a seamless experience for its customers through more than 30 digital assets.
8. Twitch
Twitch is a top interactive streaming service company owned by Amazon that focuses on video streaming, and broadcasting of games. The decision to accept cryptocurrencies on the Twitch platform has expanded the payment options for customers coupled with its unique streaming features of no ads, new chat, video storage, etc.
Final Words
These are the early days of online shopping with cryptocurrency, but it comes with a lot of promises of transparency and strong security. More e-commerce stores are adopting crypto payments to tap from the over 300 million digital asset owners across the globe.
FAQ
Can you shop online with cryptocurrency?
Yes, cryptocurrency can be used to buy products and services online. Although Bitcoin is the most popular crypto asset that is widely accepted by many online stores.
Do banks accept USDT?
Most banks don’t accept USDT except for a few options like Xapo Bank it’s converts it immediately to the US dollar.
Can I buy a Car with crypto?
Most car companies are now accepting cryptocurrency as a payment method. Although they require BTC transfer from one crypto wallet to the dealership wallet.
