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8 Businesses That Are Embracing Cryptocurrency More Recently

Written by: Coinpedia

January 22, 2022

Although more and more people are getting involved in trading various cryptocurrencies, there are still not many major retailers accepting them as a form of payment. That said, an increasing number of businesses are beginning to accept Bitcoin and other cryptocurrencies. 

From food and drinks to tech companies, there are some big names here you are bound to be familiar with. However, many industries, including online casino sites, still face difficulties when it comes to using crypto. So, don’t be too quick to convert all your cash to Bitcoin and cut up your credit cards!

In this guide, we’re going to take a look at eight big businesses where customers can now pay with crypto. Some will allow users to buy and sell digital currency, and some of the companies are also investing in the blockchain technology behind cryptocurrency. 

PayPal

PayPal not only accepts Bitcoin as a form of payment, but you can also use the platform to buy and sell Bitcoin too. This is a great way for beginners to start trading Bitcoin – many of us are already familiar with the platform. You also don’t need to undergo any further ID checks to start buying and selling crypto with PayPal. 

There are millions of retailers around the globe that accept PayPal as a payment method, meaning you can technically pay with Bitcoin anywhere that PayPal is accepted. It’s not just online retailers, either; more and more stores are starting to accept payment by PayPal, meaning you can use your Bitcoin to pay just about anywhere.

Starbucks

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Although you can’t pay with Bitcoin directly at Starbucks, the world-famous coffee shop chain has partnered with banking app Bakkt, allowing anyone running the app to do just that. 

Like with PayPal, you can also trade cryptocurrencies on the Bakkt app – you’re not limited to just buying a coffee and a muffin on the way to work in the mornings! The app was launched in 2021, and Starbucks decided to start accepting cryptocurrency as a form of payment following a very successful trial with the app.

AXA Insurance

The technology behind cryptocurrency, blockchain, is being adopted by the insurance sector, so perhaps it comes as no surprise that AXA Insurance now accepts payment by Bitcoin. Insurance companies can use blockchain technology to help automate, and therefore speed up the claims process, and perform necessary background checks on those applying for a policy.

At the time of writing, AXA offered Bitcoin as a payment method to customers in Switzerland. Customers can use Bitcoin Suisse to pay for their premiums, using the current exchange rate between Bitcoin and Swiss Francs. 

MasterCard

Although MasterCard isn’t a business you shop from directly, the company has formed various partnerships allowing those with MasterCard products to pay with Bitcoin at various retailers. 

One company MasterCard has partnered with is Bakkt, mentioned above. This means that MasterCard customers can now use Bakkt’s cryptocurrency services, like trading Bitcoin. You can apply for a Bitcoin debit card issued by MasterCard and Visa. This can be used more or less anywhere where debit cards are accepted, including ATMs and millions of retailers worldwide.

Microsoft

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It’s hardly surprising that a tech giant such as Microsoft would be offering crypto as a form of payment. Customers can use their Bitcoin wallet to pay for Microsoft’s digital services like adding credit to a Skype account or gaming with Xbox Live. 

Microsoft was one of the early pioneers of Bitcoin, and, as you can see from this list, there are still few companies directly accepting Bitcoin or other cryptocurrencies as payment methods. The company started accepting Bitcoin back in 2014, and Bill Gates himself is said to be a big fan of digital currencies. 

Wikipedia

Another major player now accepting Bitcoin is Wikipedia – readers can donate to the online encyclopedia using Bitcoin, among other more conventional payment methods. This is done using BitPay and can be set up to recur every month. 

Burger King

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From tech giants to fast food, there are more and more businesses where you can pay using your crypto wallet. Burger King accepts Bitcoin as a payment for burgers, fries, and other menu items, but not yet in every outlet. Currently, you can pay using Bitcoin in Burger King restaurants in the Netherlands, Germany, and Venezuela.

Customers in Venezuela aren’t limited to just Bitcoin – restaurants in the country also accept payment in the form of Ethereum, Litecoin, and Tether, among others.

Overstock

Overstock offers everything from home furnishings to gifts, jewelry, and pet supplies. The best part is, this massive retailer now accepts payment by Bitcoin. Like Microsoft, Overstock.com started accepting Bitcoin in 2014, making it one of the earlier retailers to adopt crypto as a payment method. 

Overstock has formed a partnership with Coinbase, meaning users can use many different coins to pay for their goods – it’s not limited to just Bitcoin. Overstock is deeply invested in the crypto world – the company also owns no fewer than ten blockchain companies. So, you can have complete peace of mind when using your crypto wallet to pay for goods from Overstock.com.

Coinpedia

Crypto Journalist and Editor of guest articles in CoinPedia. I am also handling Outreach & Partnerships Manager. Contact me: info@coinpedia.org

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