Over the years, Bitcoin has massively dominated the cryptocurrency market and has taken the world by storm. Currently, the leading and most popular digital currency, Bitcoin is widely accepted as a legitimate source of funds by many companies. For example, it is now possible to augment your Microsoft account with encryption.
However, Microsoft is not the only one accepting cryptocurrencies nowadays. In a recent survey by Hartford Steam Boiler, at least a third or about 36% of small and medium-sized businesses in the United States now accept Bitcoin as a payment method for goods and services.
Bitcoin has revolutionized the digital payment system and provides people who do not have access to traditional banks an alternative way to transfer money. Read on to find out who accepts Bitcoin as payment and which cryptocurrencies are the most popular today.
Who accepts Bitcoin and other cryptocurrencies?
While blockchain technology Still confusing to most people today, many large companies in the United States are jumping on board. Bitcoin has progressed from an obscure virtual currency used by a minority of the population to a payment method and a currency that millions of people assume is the monetary system of the future.
Here are the top players who accept crypto as a payment method:
Aside from being able to use crypto to top up your Microsoft account, the software company also allows people to use digital currency for other services. You can use Bitcoin to pay for Xbox Live, Microsoft apps and games, and other digital content.
Wikipedia, the world’s most comprehensive and comprehensive open source encyclopedia, accepts donations and financial contributions in Bitcoin. Wikimedia, the company that runs it, uses BitPay as a payment platform.
Aside from buying and selling cryptocurrency, Paypal customers in the US can also use digital currency at merchants that accept Paypal payments. Accepted cryptocurrencies include Bitcoin, Bitcoin Cash, Litecoin, or Ethereum.
Although it is still impossible to pay directly for your morning coffee at the register with Bitcoin, you can add money via the coffee company app. A third-party digital wallet app, Bakkt, can help you convert your Bitcoin into dollars instantly for use at its merchant partners – including Starbucks.
AT&T is the first major mobile phone provider in the US to offer customers the option of encrypted payment via BitPay, a third-party payment gateway. Consumers who want to pay with Bitcoin or other cryptocurrency can choose BitPay when paying.
The well-known online retailer in the US is the first major retailer to accept cryptocurrency through a partnership with Coinbase. Even before Paypal and Microsoft started accepting cryptocurrencies as payment methods, Overstock was already on top.
In 2014, Twitch added encryption as one of its payment options. The leading video streaming platform owned by Amazon accepts Bitcoin, Ether, Bitcoin Cash, XRP, USD Coin and other lesser known coins like PAX, BUSD and GUSD.
It still doesn’t accept crypto payments directly, but you can use Purse.io if you want to pay with Bitcoin.
9. Home Depot
The home improvement retailer is using the digital payment system Flexa to accept Bitcoin without purchasing additional hardware.
10. Whole Foods
Similar to Home Depot, Whole Foods also uses the Flexa platform. Flexa can instantly convert cryptocurrencies into dollars, allowing consumers to experience seamless payments with Bitcoin.
The online travel agency first started accepting crypto payments through Coinbase but later switched to BTCPayServer. Accepted stablecoins and cryptocurrencies as payment for flights or hotel reservations include BTC, ETH, USDC, GUSD, and DOGE.
With Newegg, you don’t need a separate app to convert Bitcoin to cash – it’s as simple as selecting ‘Pay With Bitcoin’ at checkout.
Since 2013, Namecheap has consistently accepted Bitcoin as payment for web hosting and domain name registration.
Rakuten Wallet allows its users to top up Rakuten Cash using cryptocurrency and accepts altcoins like Ethereum and Bitcoin Cash.
15. Fast food restaurants
Some of the fast food chains that accept cryptocurrency include Pizza Hut and Burger King in Venezuela, KFC in Canada, Quiznos in Denver Airport, and several Subway branches.
Aside from the companies mentioned above, many are starting to accept cryptocurrency as payment for their goods and services, including AMC, Travala, Norwegian Air, Virgin Galactic, JC Penney, GameStop, Gap, Shopify, Dallas Mavericks, Miami Dolphins, Gyft, and Pirate Bay. and The Internet Archive and several Etsy sellers.
Most Popular Cryptocurrencies
So what are the most popular cryptocurrencies today? according to CoinDeskThe cryptocurrencies currently topping the charts are the following:
- Bitcoin (BTC): Originally designed as a digital payment system, BTC is still the most popular cryptocurrency – it is highly regarded despite periodic declines throughout its history.
- Ethereum (ETH): The value of Ether has increased significantly since its inception, but it is still less than the current value of Bitcoin.
- Solana (SOL): Attracting users with its fast transaction speeds and low costs, Solana quickly gained momentum in selling non-fungible tokens (NFTs).
- XRP: Ripple digital payment network crypto, XRP is faster and more efficient in powering global transactions.
- Rope (USDT): One of the first cryptocurrencies to peg its value to the fiat monetary system (the US dollar), Tether is the most valuable stablecoin today.
- Cardano (ADA): Cardano is a more secure and scalable way to maintain decentralization that uses Ouroboros, a peer-reviewed blockchain framework.
- Dollar currency (USDC): Pegged to the US dollar, USDC is more stable than other cryptocurrencies – which makes it ideal for digital payments.
- Excellent (XLM): XLM was created as an open network for the transfer and storage of currencies, allowing easy trading of digital money.
- Polkadot (DOT): Polkadot’s mission is to enable diverse blockchains to exchange data and complete transactions with each other.
- Polygon (Matic): Its rebranding this year has expanded its use case – resulting in a huge rise in file size gain in valueIt rose from its January 1 price of $0.01 to its current value of $2.16.
Start using Cryptocurrency and improve your business
The big brands mentioned above have already taken a step towards a better digital payment system. While there is still a long way to go before all stores directly adopt bitcoin, there appears to be no way to stop its increasing use. Any company can take advantage of this trend by adapting to accepting cryptocurrencies as a form of payment.