Cryptocurrency news: Digital currency is becoming more and more talked about and well-known to the general public as time passes.
Additionally, increasing numbers of companies are accepting it as a form of payment for goods and services every day.
There are a few different types of cryptocurrency which businesses may accept as payment for goods and services. Even though not all do at present, there are more than seven companies which accept cryptocurrency. Here they are:
In August 2017, Overstock.com announced their acceptance of cryptocurrencies as a form of payment for goods that they sell. They will take not just Bitcoin, but also Ethereum, Litecoin, Dash, and Monero.
They use a digital asset exchange company which is called ShapeShift to complete transactions. It also converts currencies through blockchain in seconds without an account has to be set up.
This is another of the major companies which accept cryptocurrency in the form of Bitcoin. However, buyers should be careful. Once you start a transaction with Expedia using Bitcoin, you cannot cancel it.
This is another major company which is now accepting cryptocurrencies.
Subway has followed suit by permitting bitcoin trading for meal items. Whether or not they will start accepting Ethereum, Tether or any other form of cryptocurrency is not still known.
Bitcoin is accepted by PayPal as a form of payment. It is run through payment processors like GoCoin, Coinbase and Bit|Pay.
They are one of the first companies that started allowing cryptocurrencies as payment for transactions that are completed through them.
Soon, they will also take into consideration the use of Ethereum and some other cryptocurrencies too.
You can set up your online show through Shopify much like you could through some other platforms such as eBay or Etsy.
As early as 2013, Shopify became one of the well-known companies which accept cryptocurrency.
The form of cryptocurrency which they are accepting right now is Bitcoin. It is also possible that they accept some other cryptocurrencies in the future.
It seems that Microsoft first started admitting Bitcoin cryptocurrency back in December of 2014. In the last few weeks, they also stated that they would stop accepting it but reversed the decision just after a few days later.
This may also not be the first time that they have made the statement which says that they will no longer accept Bitcoin. In 2016, one similar declaration was made. But it was overturned too.
Time is going to tell if Microsoft will continue allowing any form of cryptocurrency for its products or not.
This is one of the early companies which accept cryptocurrency. In fact, they accept over 50 different kinds of cryptocurrency.
They started taking it in early 2013. They are also very enthusiastic about cryptocurrency that it is the only form of payment that they accept. Of course, they are not accessible for everyone, as not every city or town has a pizza restaurant which is connected to them.
Why don’t other companies accept cryptocurrency?
You are probably wondering why other businesses and large companies do not accept cryptocurrency. The companies which are listed above are not only accepting digital currencies as payment, but they are doing it successfully as well.
If they were not successful, it stands to reason they would have stopped taking cryptocurrency long ago.
It is also possible that the reason masses of other companies do not currently accept it because of the volatility of their values. Wild swings in cryptocurrency values make it more difficult for smaller retailers and merchant to absorb losses.
Additionally, there are also tax implications to consider. Moreover, there is a possibility that the government may choose to start managing it in the future.
All of the reasons could make the approval of cryptocurrency to look a lot riskier.
Apparently, there are some other companies which accept cryptocurrency and are not mentioned in this list.
It will be impossible to include all of them. However, the listed companies from above, which accept cryptocurrency, are a few of the major ones that most people have heard about. It is possible more will join them soon.