Companies Which Accept Cryptocurrencies as Mode of Payment

In early 2021 a huge announcement made by Elon Musk moved the entire world. Elon Musk announced a huge investment of $1.5 billion from Tesla and also revealed that the company would accept Bitcoin, the most popular digital currency in the world as payment for its vehicles. While it was expected to be one of the greatest market captures of digital currency, it finally did not work out when Elon Musk dropped his cryptocurrency investment plans due to environmental concerns. In fact, now many companies like AMC theatres and Microsoft have made transaction in crypto easier with their own ways of dealing with crypto. 

However here you are speaking about Ethereum is common which grabbed a valuation of $60,000 and showed its potential to the world. The thousands of other cryptocurrencies bubbling in the market, making their places are also being welcomed. This article reveals some of the most iconic brands and companies accepting Bitcoin as payment. 

Microsoft

Microsoft is counted among the leading companies of the world, which has also become a role model in accepting cryptocurrency for not only top-ups but other services as well. In 2014, Microsoft started accepting Bitcoin for buying games and apps like Xbox Live, digital content on Windows Phone and Xbox, Microsoft apps, and other games.

AXA Insurance

AXA Insurance is also yet another which took the futuristic initiative for all its customers in Switzerland, who can use Bitcoin to make their bill payments. This made the decision-making easier, and the company soon announced its acceptance of crypto payments. 

According to recent reports, Axa Switzerland branch has allowed most of the customers to pay with the help of Bitcoin. There are regulatory reasons that are attached to buying and the policy of dealing in insurance. 

• All non-life insurance policyholders can pay their premium with cryptocurrency.
• All crypto payments are converted to Swiss Francs
• It has been seen that for this new way of paying, customers have to incur 1.75% chargebable fee by a category named Bitcoin Suisse if they want to use this option. 

PayPal

When it’s about accepting and figuring out the futuristic need of the world, the company which initiated digital payments cannot be far behind in the line. Soon after Microsoft announced the acceptance of Bitcoin payments in December 2014, in September of the same year, PayPal stepped up as the next big boom for the global market that would accept Bitcoin payments. 

It was indeed a major business move since then bitcoin was trading not trading as BTC but XBT. Even more, the concept and reliability of bitcoin were still strengthening its foundation, and most people have a blurred concept of digital currency. But PayPal understood the scope and potential of the digital currency market and knew it can bring new prospective business. The reason behind this was that digital currency transaction fees were comparatively much lower compared to the 2%-3% charge on credit card transactions which cut off almost 2-3% of profit for businesses. 

Overstock

Overstock being one of the leading online retailers with major businesses in the global market always had a keen interest in cryptocurrency. In 2018, CNN found Overstock to be “basically a crypto company” because within a short period the company exhibited commendable investment in blockchain technology which was overwhelming.

Starbucks

It is not like you can directly pay for your morning sip of coffee at the Starbucks counter with bitcoin, but yes, the company allows you to maintain funds with bitcoins at the company app. Now just like Bitcoin Era,the associated wallets allow users to convert their bitcoin into ready funds and use it with Starbucks.

Twitch

Indeed 2014 turned out to be a golden year for the Cryptocurrency market since many major global businesses took up cryptocurrency payment, and Twitch also takes credit in the same line. Not only is Bitcoin the most popular cryptocurrency, but Twitch accepts Bitcoin Cash, Ether, USD Coin, XRP, and other lesser-known coins like BUSD, GUSD, and PAX. In fact, it has also been seen that Twitch and Crypto.com’s engagement on professional terms goes back to an inhouse sport series which is called Twitch Rivals. 

Apart from these Amazon, AirBaltic, Visa, Sotheby’s,and Coca-Cola can be named among other companies with a lot more to name which have started accepting cryptocurrencies.