Cryptocurrency is considered the currency of the future. It is becoming more and more popular as it provides a secure transaction method. Cryptocurrency comes in different forms for businesses to accept payment which is why more and more companies are looking to take this as a form of payment.
So, who are the companies that already accept cryptocurrency payments? Why are there companies that won’t accept this form of payment? These are just a few answers you’ll find in this article.
Companies Who Accept Cryptocurrency
Here are seven major companies that accept cryptocurrency as a form of payment.
Subway is a franchise, so each shop’s protocol is decided by the local owner. There is a shop in Moscow and Allentown, PA, that is accepting the cryptocurrency Bitcoin. It is unknown if they will start receiving other forms of digital currency at this time.
Shopify is a POS system that allows you to sell products in-store or at other events. They also allow you to set up online shops similar to eBay and Etsy. These online shops are where the owner of the store can choose to accept cryptocurrency. Right now, it is well known for using Bitcoin.
Expedia is a well-known travel website where you can book hotels, flights, and rental cars. Over 700,000 hotels on Expedia accept cryptocurrency, and the website uses thirty or more forms of payment with digital currency. Unfortunately, there are reviews that all sales are final when purchased with cryptocurrency.
PayPal is a platform that offers a secure payment for online purchases. You can also send and receive money from family and friends. Currently, PayPal uses four different types of cryptocurrency. They are available for personal accounts but not for business accounts. PayPal was one of the companies in the beginning to accept cryptocurrency.
Accepting cryptocurrency in 2013, Pizzaforcoins was another company like PayPal that took cryptocurrency in its early stages. The entire website was created around the fact that they would accept bitcoin as payment. It was to make ordering a pizza easier and quicker.
Founded in 1999, Overstock is an American retailer that predominantly offers furniture. They started accepting cryptocurrency in August of 2017. They will take four other forms of cryptocurrency as well. To complete the transaction, they use an app called ShapeShift, where blockchain converts your money.
As of right now, Microsoft accepts cryptocurrency. They have been using the digital currency since 2014, but over the years, they have announced twice they were going to discontinue the tender as a form of payment. However, they specifically use Bitcoin.
Why Won’t Other Companies Accept Cryptocurrency?
The companies listed above show that cryptocurrency can be used and accepted successfully. So, it does make one wonder why it is not a more popular form of transaction.
Many companies’ currency needs to be stable, and right now, cryptocurrency has variations in its value. Small businesses can have a more challenging time recouping any lost money if they are not as successful with their digital currency. In addition, currently, the government does not regulate cryptocurrency. However, if that were to change, it could make using cryptocurrency all the riskier.