The growing trend in the use of cryptocurrencies has meant that more and more businesses and companies all over the world have begun to invest in cryptocurrencies or accept them as a payment method. The most popular of these is of course Bitcoin, which is the biggest cryptocurrency token by far and has seen stunning growth over the last year or so. In fact, Bitcoin is already accepted as an official payment method in Japan, where over 250,000 retailers and food stores already accept payments in Bitcoin. Of course, this is an outlier, with other countries still slowly coming to terms with the crypto revolution, but there are a growing number of companies, including well-known brands, that have begun to accept Bitcoin as a payment method. Thus, here we shall look at some of the biggest and most famous companies in the world which accept Bitcoin as payment.
Users can deposit bitcoin into their Microsoft accounts, and then use these tokens on apps, movies and other content online. However, one limitation at the moment is that you cannot use Bitcoin to buy items from Microsoft’s own online store. However, the Xbox brand, which is part of Microsoft but is one of the biggest gaming brands in the world, is different in this regard. Users can purchase games, bonus items, in-game items and even Xbox subscriptions with Bitcoin, which makes it extremely useful and attractive for players.
It is a similar story with Sony’s PlayStation, which is Xbox’s direct rival and the biggest gaming console brand in the world. Users can buy games, subscriptions, and in-game items and upgrades through Bitcoin on the PS store online.
Twitch is the largest streaming platform for games in the world, and is owned by Amazon. Users of the site can make payments or donations to streamers in the form of Bitcoin or Bitcoin Cash, which can be a huge source of revenue for them.
Starbucks was initially rumored to be accepting Bitcoin payments back in 2019, but those were proven to be false. The coffee giant does not accept crypto payments directly, but has partnered with Bakkt, a crypto exchange, where payments can be made in Bitcoin for Starbucks purchases. The Bakkt app was launched in mid-2020 which means that customers can now pay for their favorite Starbucks coffees with Bitcoin.
This was perhaps the biggest driver for other companies to begin accepting Bitcoin payments, as Tesla recently announced that customers could now pay for their Tesla vehicles via Bitcoin. Elon Musk, the founder and CEO of the company, has been one of the biggest proponents of cryptocurrencies, and Tesla had also announced that it had bought $1.5 billion worth of Bitcoin earlier this year, further establishing its support for the crypto market.
Another of the biggest developments in the crypto space was the arrival of PayPal, as it announced that users in the USA could begin to transact in cryptocurrencies on its platform. This service will soon be extended to the United Kingdom and elsewhere, and given the size of PayPal’s user base, it will be no surprise to see a surge in crypto usage following this announcement.
The iconic German carmaker has followed Tesla’s lead in allowing customers to purchase its cars through Bitcoin. Given its luxury branding, this is a sensible move, as many of its customers would already have Bitcoin investments, and this would be a good way to get them to buy BMW cars.
Burger King outlets in Germany and Venezuela are now accepting Bitcoin as payment for food orders online for delivery. This is being used as a marketing campaign at the moment, with the intent being to understand the demand for this service, but this is an important step forward in the use of crypto for everyday purchases.
KFC outlets in Canada are accepting Bitcoin for the ‘Bitcoin Bucket’ item, which are limited edition meals that customers can order online to be delivered to their homes. Payment can be made via BitPay.
Home Depot is the largest hardware store chain in the USA, and it now accepts Bitcoin payments via its Flexa checkout systems which are present in stores. Thus, this makes it extremely easy for users to pay for their purchases via Bitcoin at the store itself.
Shopify is the biggest e-commerce platform in the world which allows anyone to create online stores and point-of-sale businesses. Shopify is one of the earliest adopters of Bitcoin, having accepted Bitcoin payments since 2013, with some merchants that are using Shopify also able to receive payments in Bitcoin depending on their country.
These are just some of the biggest and most famous brands across various sectors that are accepting cryptocurrency payments. As you can see, this is a diverse list spanning various sectors, which shows the applications that Bitcoin has and its ability to transform any business globally.