There isn’t a day that goes by when cryptocurrency isn’t in the news. If it is not news that Bitcoin’s value reached a record high for the first time, then it is certainly news that one of crypto’s followers is investing billions in any form of cryptocurrency.
The ability to spend digital currencies is somewhat limited due to volatility despite the increasing popularity of selling and buying cryptos. Nevertheless, there are increasing numbers of companies across different industries that accept cryptocurrency, allowing clients to use them as official payment systems.
The following are some of the most well-known and biggest companies using and accepting cryptos.
Companies that accept cryptocurrency
Mastercard
MasterCard announced that its partners could sell, buy, and hold cryptocurrency through a digital wallet and reward them with digital currencies through loyalty programs. Instead of loyalty points, customers can earn and spend rewards in cryptocurrency.
To offer the new crypto services to its customers, the financial giants will partner with Bakkt Holdings, the platform founded by NYSE-owner Intercontinental Exchange in 2018.
Pavilion Hotels & Resorts
A Hong Kong-based hotel chain has become the first to accept virtual currency payments as the latest development allows crypto transactions. As of July, the group which handles different hotels properties in Madrid, Amsterdam, Rome, and Lisbon, as well as Phuket and Bali, have started accepting different tokens, including the famous Ethereum and bitcoin, through their partnership with Coindirect.
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AXA Insurance
Customers of the insurance broker have started paying their bills using Bitcoin. According to market research conducted by the company, close to a third of the respondents aged between 18 to 55 are either interested in investing in crypto or have already done so.
Bills for non-life insurance policies will now include reference codes that clients will need to pay their premiums through Bitcoin Suisse, which will then convert the funds into Swiss Francs.
Microsoft
The fact that Microsoft accepts Bitcoin as one of the largest software companies in the world is significant because it helps instill a sense of confidence in using crypto. By redeeming Bitcoins for credits in user accounts, users can pay for Xbox Live and Skype.
Crypto technology isn’t the only thing the company is interested in. Microsoft recently released ION, a two-layered authentication platform using the Bitcoin network. The technology authenticates online identities using digital IDs.
Starbucks
Clients of Starbucks can now pay using converted Bitcoin through the new Bakkt app, following an extensive trial. A total of 500,000 people signed up for the invite-only, early access program to test the digital wallet to see if it works.
Tesla
Tesla’s CEO Elon Musk’s relationship with Bitcoin has been up and down. The company initially announced that it would accept Bitcoins to pay for US vehicle purchases earlier this year. This follows Elon Musk’s company’s investment in cryptocurrencies.
The situation has escalated with Tesla making an announcement that it will stop Bitcoin transactions until more than 50% of tokens are mined through renewable energy.
Amazon
Amazon reportedly joined other tech giants in laying the groundwork for its cryptocurrency earlier this year. Despite this, the e-commerce company does not currently accept cryptos directly. Alternatively, you can purchase Amazon vouchers through Bitrefill, a company that allows the conversion of bitcoin into gift cards, refilling cell phones, etc.
Bottom Line
These are just a few of the companies that have implemented bitcoin into their payroll. If you’re interested in introducing this method of payment into your business, you can do more research.
