2021 has been a significant year for the cryptocurrency market, with Bitcoin reaching its all-time high of US$60,000 in March. More businesses are starting to accept crypto as a payment as crypto becomes increasingly mainstream. There are over 18,000 businesses worldwide accepting crypto as of today, and this number is increasing quickly. In this article, we will share 10 of the major companies that are already accepting crypto payments.
The world’s biggest software company Microsoft started accepting crypto payments as early as 2014. It is the first few among the giants to accept Bitcoin back when Bitcoin’s value was a mere US$400. Crypto is accepted as payment for games, videos, and applications on the Xbox and Windows phones.
Paypal began accepting crypto three months earlier than Microsoft. They were planning to use this new payment method to draw businesses as Bitcoin’s transaction fees are much lower than the fees charged by credit cards. Online merchants were able to accept Bitcoin payments via partnerships with existing crypto payment gateways.
AT&T is the first United States mobile carrier to let customers pay in Bitcoin. Although not directly accepting cryptocurrency, AT&T works with a third-party service provider which credits the transaction into fiat to the company.
Overstock is considered the veteran as it started accepting crypto payments back in January 2014. Overstock.com CEO Patrick Byrne claimed on a tweet that the company had sold US$124,000 in goods via Bitcoin just on the very first day of accepting the cryptocurrency. Since then, Overstock has continued to invest heavily in blockchain technology and has now grown to become a popular e-commerce platform.
Tesla started accepting Bitcoin as a form of payment in February 2021, the same time that the company purchased US$1.5 billion worth of Bitcoin. Although Tesla halted all crypto payments just three months later due to environmental concerns, Elon Musk claimed that Tesla would “most likely” resume accepting Bitcoin as a form of payment once the mining rate for the cryptocurrency reaches 50% renewables.
That’s right, and you can now pay for your morning coffee with crypto. Although you are unable to pay in crypto at the counter itself, Starbucks allows you to add Bitcoin, along with gift card balances on the Starbucks application to pay for your coffee.
7. Whole Foods
Whole Foods, owned by retail giant Amazon, accepts crypto payments through a new mobile payment app called Spedn. Even though Amazon has not announced any plans to accept crypto, it has supported cryptocurrency as a payment method.
Newegg has been a full supporter of crypto payments since 2014 when it started accepting Bitcoin. Over the years, Newegg has always been the first major retailer to take in new cryptocurrencies, including Litecoin and Dogecoin.
Twitch is another company owned by Amazon that is accepting crypto. Streamers can choose to receive cryptocurrency donations from viewers. They even offer discounts to customers to encourage crypto transactions on their website.
CheapAir is the first US travel company that allows its customers to pay in crypto. Over the years, they have added more digital currencies to their offerings, such as Ethereum and Dogecoin.