Bitcoin retail acceptance
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It is no wonder, then, that it comes as a shock to many that the exact opposite seems to be happening. Retailers are more skeptical than ever about letting customers shop with Bitcoin. In a report released on Wednesday by Morgan Stanley payments analyst James Faucette, it was revealed that Bitcoin is accepted by just three of the top online retailers in the world. Bitcoin users are also playing a direct role in slowing its growth as a currency.
According to Faucette: Bitcoin owners are reluctant to use the cryptocurrency given its rate of appreciation, more evidence that bitcoin is more asset than currency. Many of the newcomers who are buying digital currencies such as Bitcoin are doing so in order to hold on to them, with the hopes of seeing more astronomical gains in the near future.
As a result, although there is a much bigger marketplace of Bitcoin users, they are not necessarily active spenders of the currency. Bitcoin Growing Pains Other factors that could have retailers withholding their acceptance of digital currency are the scaling challenges that are facing Bitcoin.
Microsoft The tech company, Microsoft, is one of the earliest major retailers to accept bitcoin. The US-based company has been accepting Bitcoin on its online store since Though the company at one time suspended payment via Bitcoin because of its volatility, the suspension however did not last for long as Bitcoin payment could now be used to buy anything on the store from Windows 10 licenses to games, and apps in the Windows and Xbox stores.
The company revolutionized the computer system from into what we know it to be now. It appears to be at the forefront of accepting a modern and innovative approach towards making transactions seamless. Overstock One of the biggest and earliest online retailers to begin to accept payment via Bitcoin was Overstock who began to accept Bitcoin payment s for their products as early as in Overstock does not only accept payment via Bitcoin, it also accepts payment via other cryptocurrencies like Ethereum , Litecoin , Dash , Monero and Bitcoin Cash.
The firm, obviously in the cryptocurrency business for the long haul, also holds its crypto earnings too and they are planning to start working on blockchain technology too, which makes their Bitcoin acceptance more than a marketing ploy to lure customers. In essence, customers can pay for their clothes and other essential needs via Bitcoin and other crypto assets. Namecheap Top domain name sellers in the market also accept Bitcoin payment for the purchase of its domain name and other transactions on the site.
Namecheap is a particularly popular company within the crypto community because of its positive outlook on cryptocurrency and its willingness to help fight for the freedom and education of others. Read more on donations in crypto here. Imagine the opportunity to pay for your chicken, drinks and burgers with Bitcoin.
That is the opportunity KFC has provided for their customers. Twitch Another tech-based business, Twitch, accepts payment via Bitcoin for its leading game streaming platform. Twitch, owned by Amazon, had hitherto suspended the Bitcoin payment option in March but had quietly re-enabled the option as at June of the same year.
Now, Bitcoin and Bitcoincash can be found as payment options in payment methods for the subscription payment page. Wikipedia Another retailer accepting cryptocurrency is the free online open-source encyclopedia, Wikipedia. The online encyclopedia accepts donations via Bitcoin. Wikipedia accepts its Bitcoin donations through BitPay.
Though the mobile carrier would not be accepting the payment directly, it would be using a third-party service provider, BitPay, to collect the payment. The company remains the first major US retailer mobile carrier to accept Bitcoin as a form of payment for its services. ExpressVPN In the world of virtual private networks, ExpressVPN is known to be a leading force when it comes to the quality of their service and ease of use, so it is not entirely surprising that the company has been accepting Bitcoin as a payment method since Like their other forms of payment, ExpressVPN also guarantees their customers that the usual day money back guarantee is also still applicable to their Bitcoin payment option.
Also, various VPNs accept crypto payments , as it serves the same principles of privacy and security. Tesla Leading automobile giant, Tesla, got into the news in when it accepted The car manufacturer had always instead preferred that its payment are done online instead of at a traditional car dealership store.
Bitcoin payment seems to be the go to payment method for Bitcoin users who tend to buy luxury products like cars, jewels etc as it affords them an anonymity that does not come with other forms of payment. And that is why the dealer stores have come to terms to accept Bitcoin as a verified means of paying for their products. Shopify The online megastore allows it merchants to accept payment via Bitcoin.
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