Tuesday, February 18, 2020

7 Major Companies That Accept Cryptocurrency

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Grace Joseph
Freelance Writer, Blogger, and Crypto Enthusiast. Studied Computer Science in University and Undergoing a Masters Degree Programme in Computer Engineering Contact@ reigngracia@gmail.com

Some major companies are accepting cryptocurrencies such as Bitcoin, Ethereum, Bitcoin cash, and Dash to facilitate payments for their goods and services. Whether they are based online or offline, these firms have found a need to adopt digital currencies in order to offer their customers a more convenient way to pay for goods.

For each company, accepting crypto payments takes away the distance barrier which ensures that anyone anywhere can buy their products. Another advantage of using these assets is that it prevents chargebacks where a company may be at a losing end. So, let’s take a look at the 7 major companies that accept cryptocurrency.

1. Microsoft:

Microsoft Corporation is one of the first companies to have adopted cryptocurrency for payments. However, the U.S. based company has been having a change of heart and therefore, discontinuing payments temporarily. At the moment, you can fund your Microsoft account using Bitcoin.

2. Overstock:

Overstock is an American internet retailer that deals with furniture, bedding, jewelry, apparel, and several other items. The company which was launched in 1999 recorded revenue of $1.745 billion in 2017. Overstock has been accepting Bitcoin, Dash, Ethereum, and Litecoin as payments for its goods. It also began to pay taxes in Ohio using Bitcoin and launched its tZero cryptocurrency trading platform in Janaury 2019.

3. Chess.com:

Chess.com is popularly known as a website to play chess online and compete with other members around the globe. With over 25 million members, it ensures that both the Chess enthusiast and expert are supported. Chess.com began accepting Bitcoin cash for its membership subscription in March 2019.

4. Starbucks:

Starbucks is a name synonymous with Coffee. According to Wikipedia, the Washington-based company was able to rake in a revenue of about $22 million in 2017. Starbucks has expanded to countries like Japan, Mexico, Switzerland, Colombia, and Vietnam. An announcement by the company earlier this month reveals that it has plans to start accepting Bitcoin for Coffee. So far, a Bitcoin payment calculator has been launched.

5. Church’s Chicken:

Church’s chicken was founded in 1952 and its restaurants can be found in many countries. One of such is Venezuela where Dash cryptocurrency is being accepted for food since December 2018. Prior to its adoption, the news was circulating that KFC will accepting Dash even though the company refuted the claims, stating that plans have not been finalized.

6. Birks Group:

Birks Group, a designer, manufacturer, and retailer of jewelry since 1879 became the first Jewelry store in Canada to accept Bitcoin. In November 2018, the company stated that Bitcoin can be exchanged for items at 8 of its stores in Canada including Brinkhaus Calgary, Vancouver West Hastings, Bloor, Montreal, Yorkdale, Fairview Mall, and Calgary.

7. Wikipedia:

Wikipedia, the popular online resource has been accepting Bitcoin for donations. However, in January 2019, the company added Bitcoin cash. It also revealed that its users had been requesting for more ways to make cryptocurrency donations apart from using Bitcoin.

Other than these, more companies have announced their adoption of Bitcoin for payments. An instance is the case of Bob Moore, a car dealership which is accepting Bitcoin in its Oklahoma branch and has plans to do the same in 17 other locations where its services are rendered. Avnet, a U.S. electronics company revealed on March 20 that its customers can pay with Bitcoin.

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