Cryptocurrencies are a hot topic right now, with increasingly more people showing interest in learning more about them. Many governments seek ways to regulate them, and some even created their own centralised cryptocurrencies inspired by the decentralised cryptocurrency. Companies jump on the trend and take advantage of it to gain a positive reputation and show support for a larger category of clients, among other reasons.
While it’s true that some giant businesses have started to accept crypto payments, others are still reticent or developing their strategy. However, because cryptocurrencies are as innovative and revolutionary as the internet was when it came to reality, you shouldn’t be surprised to see your friends buying a big KFC bucket with Ethereum. By the way, do you know what they’d have in common? They likely buy Ethereum in their most convenient way, be it with a debit or credit card, and own an account on a popular, huge platform like Binance.
Some giants are now willing to offer products and services in exchange for your digital coins.
Lush, a British cosmetic company, is betting on virtual strategies. It has started accepting Bitcoin payments in its stores across the Channel, demonstrating a pioneering move in the retail world, especially in beauty retail, where there aren’t a lot of businesses open to this revolutionary payment system.
The ethical brand of hand-made cosmetics targets crypto enthusiasts supporting virtual currencies using cryptography to verify and secure transactions.
PayPal, one of the world’s largest payment processors, announced in 2020 that it accepts Bitcoin and other cryptocurrencies. This is a significant milestone for the crypto community because it brings more mainstream exposure and may help legitimise them in other consumers’ eyes.
PayPal’s action follows in the footsteps of other big corporations like Amazon or Starbucks, who have also started to accept the digital currency. This is wonderful news for the crypto industry as it indicates that there’s still interest in this technology and that many huge companies are considering adopting it.
AMC theatres are one of the largest US movie theatre chains. In March last year, the company announced that it would start offering concessions, tickets, and other products in its theatres in exchange for cryptocurrencies. This action was viewed as a big step forward in the mainstream business adoption of cryptocurrency.
Since the news came to light, the company has seen a rising number of people using digital currency to buy items at its theatres, besides an increase in the number of tickets purchased with cryptocurrencies. You can use their app to buy tickets and make restaurant and concession purchases.
AMC is not the only large corporation that’s open to accepting crypto payments. Every day, it’s clear that this technology is becoming more and more used and recognised by mainstream businesses.
Whole Foods Market is a popular grocery store chain that started accepting cryptocurrencies as payment in 2017. Later on, they included Litecoin and Ethereum, too. In early 2018, Whole Foods announced its intention to add support for more cryptocurrencies.
According to Deirdre Schuon, the company’s spokesperson, crypto acceptance is part of their strategy to become an early mover in offering affordable and convenient food options to clients eager to experiment with new technology. The store also provides discounts on cryptocurrency purchases.
Twitch is one of the world’s top social media platforms for gamers which now accepts crypto payments for services like subscriptions and ad views. This move is expected to boost interest in cryptocurrency among Twitch users, who can now pay for the content they enjoy using their favourite digital currency.
The announcement came several weeks after Microsoft’s announcement of integrating Bitcoin payments into their Windows 10 system. These efforts show the growing acceptance of digital currency as a payment method.
Cryptocurrencies are still volatile and aren’t accepted by any merchant. However, Twitch’s move shows significant potential for a wider acceptance of cryptocurrency payments.
One of the world’s largest restaurant franchises, Pizza Hut, has recently started taking cryptocurrencies as payment. In May of last year, the company announced their intention to accept the following digital coins:
- Bitcoin Cash
It has joined a lengthy list of large corporations that offer their products and services to receive cryptocurrencies and make a positive impact and image for the food chain.
Home Depot, one of the largest home improvement companies in the US, started taking Bitcoin in January 2017. According to the company, it’s now exploring how to use digital money to make buying and payment processes more convenient for its clients.
Home Depot announced in February that it was partnering with Microsoft to enable customers to use the Microsoft Wallet app to pay with Bitcoin.
In 2013, Walmart also began accepting Bitcoin. The retail giant plans to use crypto to understand consumer preferences better and enhance its e-commerce experience. Walmart stated in March that it was expanding its Bitcoin acceptance to all 1000+ stores.
Etsy is a global marketplace that connects sellers and buyers through its platform. It allows users to sell and buy products using different payment options, crypto included.
In 2018, the company announced it would start accepting the following:
- Bitcoin cash
Microsoft is one of the world’s largest corporations and now accepts crypto as payment. It’s a significant step for the industry, demonstrating that businesses are beginning to see the importance of adopting digital currency.
Additionally, the company researches blockchain to better understand how this technology works.
Starbucks has been advocating for blockchain technology and digital currencies for a long time. In late October last year, the company announced it would start accepting Bitcoin as payment for services, goods, and other cryptocurrencies like Litecoin and Ethereum.
Starbucks isn’t the only company. JP Morgan and Amazon are other crypto payment supporters.
All in all, so many companies accept crypto payments that keeping track of them is difficult. Where are you going to spend your cryptocurrency?