According to the bitcoin statistics, there are over 15,000 exchanges that accept bitcoin or offer bitcoin ATMs around the world. Meanwhile, the U.S. has the largest number of businesses accepting bitcoin, around 2,000. It is evident that many companies worldwide use bitcoin and other digital assets today for a variety of investments, operational, and transactional purposes.
Last March, Elon Musk, a well-known Bitcoin enthusiast and CEO of Tesla Motors, announced that their company would accept bitcoin as a form of payment. While the announcement made by Musk was all over the headlines, several other major companies across different industries began accepting cryptocurrency as a valid form of payment.
This article covers ten of the biggest companies that are currently supporting and accepting cryptocurrencies.
Wikipedia is a free, online-source encyclopedia owned by the Wikimedia Foundation. The articles published are authored and maintained by a community of volunteer contributors utilising a wiki-based editing system and an open collaboration model. The organisation has already been accepting donations in Bitcoin since 2014 for support of its global readership. Donations, then, became available in other digital assets like Ether.
Microsoft, a company of over 160,000 employees, has accepted Bitcoin at their online Xbox Store since 2014. As stated in Microsoft’s payment and billing policy, the digital payment option is used to buy apps, games, and other digital content from Windows, Windows Phone, Xbox Music, Xbox Games, or Xbox Video Stores.
The service was momentarily halted a few years later, but it is fully active again.
3. Burger King
Many Burger King outlets have been accepting Bitcoins and Bitcoin cash. One of the said outlets is located in Russia, which started in 2017 due to the “success of cryptocurrency,” stated by the Burger King Russia general director, Dmitri Medovoy.
In 2019, a German branch of Burger also began accepting Bitcoin, but this was more of a marketing gimmick that lasted shortly. Additionally, Burger King outlets in Venezuela have announced a cooperation with Cryptobuyer to receive cryptocurrency as a form of payment in 2020. Customers can use Bitcoin, Dash, Litecoin, Ethereum, and Tether for their payments.
For a brief period, Bitcoin was accepted as payment at KFC Canada, with goods like the “Bitcoin Bucket” targeted to Bitcoin users. The bucket was delivered directly to the customer’s home location after the firm received payment via BitPay.
5. Pizza Hut
In November 2020, Pizza Hut announced accepting Bitcoins as payment for their goods. This comes after the country was hit with economic sanctions, which pushed cryptocurrency popularity to unprecedented heights. While this isn’t a worldwide step, it might be a precursor of what’s to come.
6. AT&T Inc.
AT&T is the world’s first mobile giant and a company of over 245,000 employees to accept Bitcoin. It is also one of the most popular companies accepting Bitcoin payments worldwide today, as revealed in an HSB survey.
News about Starbucks accepting Bitcoin as a form of payment quickly circulated in 2019, but the company later acknowledged that the claims were incorrect on several counts. They clarified that they would be partnering with Bakkt’s Digital Wallet App to accept Bitcoin payments soon, but not directly and not until mid-2020. It was announced recently that the app has finally launched, allowing customers to pay with Bitcoin.
PayPal Holdings Inc. is an American firm of over 23,000 employees that uses its online money transfer system to enable payments between parties worldwide. The company stated last year that beginning in 2021, customers in the U.S. would be able to purchase, trade, and store a limited number of cryptocurrencies directly through their Cash or Cash Plus accounts.
9. Whole Foods Market
Whole Foods Market is one of the most recognisable supermarket chains globally. The company has extended to 500 areas across Canada, U.K., and the U.S. In 2019, Whole Foods partnered with Winklevoss Flexa spending app ‘Spedn app.’ You can easily purchase all of your groceries using Bitcoin, Litecoin, or the Gemini dollar with the app.
Etsy is an American electronic commerce website where consumers interested in handmade or antique things and creative materials often shop.
Although Etsy does not presently have an operational system to take Bitcoin, dealers may indicate Bitcoin acceptance in their adverts to attract Bitcoin spenders by setting the ‘Other’ option in Etsy Shop Manager’s Finances section.
Can Bitcoin and other cryptocurrencies benefit my business?
Some reasons that many firms acknowledge as they turn to cryptocurrencies could be the fast transaction speed, acquisition of new customers, and easy access. However, many entrepreneurs might also view that crypto trading can be a daunting task. But what’s important is to learn first about the basics of trading digital assets. To do so, one must look for a reliable platform. Succeeding in trading Bitcoin and other cryptos takes time.