One of the major goals of cryptocurrencies is to provide a new method of transaction that will be free from the limitations of traditional systems. Although the technology is still developing, several innovations are springing up with different areas of focus, all aiming to satisfy the need for cheaper, more effective and secure means of transaction.
Having come through years of testing and speculation, a number of companies are already accepting one or more cryptocurrencies as a means of payment. Among the biggest companies to look into crypto, many of them only accept Bitcoin, which is the pioneer and most popular cryptocurrency, while others make it possible for clients and customers to pay with more than one cryptocurrency option.
Some of the biggest companies accepting cryptocurrency are discussed below:
Microsoft Corporation is arguably the biggest computer software development company in the world. The American company which was founded by Bill Gates and Paul Allen, with headquarters in Redmond, Washington is involved in manufacturing and licensing computer software.
The company has opened up the option of users topping up their accounts using Bitcoin. Microsoft have opened up this option before, halted it and have since re-opened it again as a means of payment.
Another American-based company, Overstock has also joined the big companies that accept crypto for payment. Overstock is a retail company that majors on closeout merchandise like home decor, furniture and bedding. The company is also involved in the management of inventory supplies for other retailers.
Overstock has since partnered with Coinbase in order to give customers who want to pay online the option of paying with Bitcoin.
This is one of Richard Branson’s companies within the Virgin Group. Virgin Galactic is developing commercial spacecrafts with which it will serve space tourists who want to go on suborbital travels.
This company allows tourists to pay for these travels using Bitcoin.
Amazon is an online retail giant, arguably the biggest online retail company in the world. The company, which was founded by Jeff Bezos in 1994 is involved with e-commerce, cloud computing, digital streaming and artificial intelligence.
Although customers on Amazon cannot pay with cryptocurrency directly, they can do so via Purse.io and pay for whatever they buy on the website.
One of the biggest football clubs in Portugal, also recognised as a top club in Europe, Benfica now accepts Bitcoin as payment for tickets and merchandise.
Benfica was founded in 1904, and is among the three big football clubs in Portugal, the others being Sporting Lisbon and FC Porto.
The above listed companies started accepting cryptocurrencies even while the systems of making payments involved some level of complexity. Take for instance the case of Amazon, where Purse.io actually serves to connect those who want to pay with crypto with retailers that are willing to accept the same.
With innovations like what tap is making available today, where a prepaid Mastercard enables users to transact seamlessly by converting and paying with fiat, users will no longer need to seek out retailers accepting cryptocurrencies and instead make use of their fully-functioning Mastercard. We will definitely see an influx of adopters in the near future.
With tap cards, merchants do not even need to be aware that payments are being made using cryptocurrencies. Every settlement happens in the same way that merchants are settled today for other Mastercard transactions so there are no changes required at the merchant end.
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