The world is currently divided as to whether or not they should embrace cryptocurrency. While that is going on, these five companies have gracefully accepted cryptocurrency. They now frequent cryptocurrency markets regularly and always stay updated regarding their cryptocurrency value.
Since cryptocurrency prices are volatile, many people stay away from them. However, these five businesses have embraced crypto for all the right reasons. So, who are these companies, and why did they embrace crypto so easily?
Microsoft is one of the biggest names in technology, so it’s no surprise that it was among the first wave of large companies to accept Bitcoin for payment.
While initially only available for purchasing content on its Windows Phone platform, customers’ acceptance of the alternative digital currency inspired Microsoft to expand Bitcoin payments to its Xbox products as well. To purchase apps, games, or videos from either platform, users must convert their Bitcoins into US dollars before making their purchase.
Given this procedure, it seems likely that while Microsoft accepts cryptocurrencies (both Bitcoin and Ethereum are accepted), they don’t issue any themselves; rather than accepting a direct transaction of cryptocurrency, they merely facilitate the exchange process.
Overstock.com, Amazon, and Microsoft are three major players that have recently begun accepting Bitcoin as a method of payment, but they’re hardly the only ones. The first business to accept cryptocurrency was a pizzeria in 2010, and while it may have been a savvy move on their part at the time (hindsight is 20/20!)There are plenty of big names you can use to buy all your holiday gifts this year.
Amazon’s decision to accept Bitcoin as a payment method did not come as a surprise. After all, cryptocurrency markets are not vulnerable to inflation. So, when you buy something with let’s say one Bitcoin, Amazon receives one Bitcoin. It does not receive $100 or whatever the cost of one Bitcoin is at that time. As a result, while the US dollar may lose value due to inflation, Bitcoin won’t, since it is a global currency.
Expedia is one of the largest online travel agencies in the world, and they’ve recently started accepting Bitcoin. The company is eager to get involved with cryptocurrency, and Coinbase is currently the only option available for paying with Bitcoin on their platform.
Expedia isn’t just dipping its toes into the water: it’s diving right in, and even giving customers a free $50 discount when they book their hotel through Expedia using Bitcoin. It’s easy to pay for your hotel using Expedia—you don’t have to worry about setting up multiple wallets or copying/pasting lengthy cryptographic addresses.
Expedia has made a bold move towards mass adoption of cryptocurrency by allowing customers from all over the world to pay for hotels using digital currency. If you’re planning a vacation or business trip soon, take advantage of this great opportunity to support crypto-friendly companies and save money at the same time!
If you love computers, gaming, and the hottest technology trends, you’ve probably heard of Newegg. An online electronics retailer based in California, Newegg is dedicated to stocking the latest gadgets and gizmos at competitive prices. As a leader in its field, the company was one of the first major retailers to publicly announce that it would begin accepting Bitcoin back in 2014—a milestone that seemed unthinkable just a few years ago.
As far as shopping on Newegg using cryptocurrency goes, there’s no difference between using bitcoin or another digital currency and using PayPal or a credit card. The process of checking out with bitcoin is just like any other form of payment: input your billing details and shipping information (if applicable), select your preferred payment method from your wallet and click “Checkout” on Newegg’s site. Once done processing the order, Newegg will ship it out to you via United States Postal Service or UPS.
With all this said about big brands like NewEgg accepting cryptocurrency for online purchases, it’s important to note that not every store accepts crypto yet—and there’s a good chance some never will. It can be discouraging when you make plans to purchase an item only to find out later that they don’t accept cryptocurrencies–but remember; stores are businesses that have every right not to accept cryptocurrencies if they’re not comfortable doing so (even though no logical reason exists).
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If you’re one of the many people who’ve already heard about cryptocurrency, you may also know that a certain restaurant chain allows you to trade in your Bitcoins for sandwiches. Subway is the first large international fast-food chain to accept Bitcoin and has done so in select locations throughout Canada, the Netherlands, and Hungary.
The opportunity for Subway to accept Bitcoin began when an Australian man named Julian Edelman reached out to them on Twitter as part of a marketing campaign organized by his partner’s company (who happens to be on the Executive Board of Directors at Mastercoin Foundation). The partnership was a natural fit; not only is Subway frequently seen as being at the forefront of technological innovations within its industry, but Edelman himself is also known for his love of cryptocurrency.
So, if these giants can embrace cryptocurrency, why not you and your business? Give it a thought, because embracing cryptocurrencies could be a life-changing decision for you and your business.
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