If you want to gain a competitive edge over your rivals, you need to do something different than them, right?
Offering a superior crypto payment experience seems like a good idea.
Accepting bitcoin and other cryptocurrencies as alternative payment forms helped many companies stand out from the crowd.
Let’s dive into the top businesses that use cryptocurrency as a form of payment. You might even be surprised by some of the names below.
5 reasons why companies are accepting crypto as a payment
Before we reveal the companies’ names, let’s just take a quick look at why the world’s top brands are using crypto as payment.
– 1 It’s way cheaper
By using blockchain technologies, you can avoid extra costs from traditional payment systems, such as administrative and operational expenses. As a result, you can enjoy a larger profit margin. Who wouldn’t like that?
– 2 It’s faster
In traditional transfer methods, you need a middleman to process transactions. In comparison, using crypto eliminates such intermediaries and facilitates transactions faster.
– 3 It’s safer
Unlike bank transactions, crypto transactions are irreversible. This means that businesses are protected from chargeback frauds.
– 4 It helps you reach more customers
With the rise of online shopping and mobile payments, using crypto provides more flexibility in payment, ensuring that you don’t lose any potential sales with a limited range of payment options.
– 5 It makes you look cool
Companies enjoy positive publicity when they announce being more open to crypto payments. This is one of the best ways to establish your business as a modern, forward-thinking enterprise.
Top 10 companies that use crypto as a payment
Company #1: Microsoft
We will kick off this list with one of the largest software companies in the world – Microsoft. The company started accepting cryptocurrency in 2014 as payment for games, apps, and digital content for platforms like Windows Phone and Xbox.
Today, you can use Bitcoin to pay for various Microsoft services, such as Xbox Live and Skype.
Company #2: PayPal
Only 3 months before Microsoft started to use bitcoin as payment, PayPal did the same. This helped PayPal drive many consumers to its platform.
Nowadays, PayPal users can hold, buy, or sell Bitcoin, Ethereum, Bitcoin Cash, and Litecoin and track cryptocurrencies via the PayPal app. One thing to have in mind is that you can’t transfer your money out of the company’s digital wallet.
Company #3: Starbucks
In March 2020, Starbucks announced they are joining the Bitcoin revolution. They used a third-party digital wallet app Bakkt to convert Bitcoin to dollars in order to make quick payments.
Next time you go to Starbucks, make sure to add Bitcoin to your gift card or pay with your Starbucks app.
Company #4: Domino’s Pizza
Some of the leading pizza takeaways have followed the Starbucks example of accepting crypto to pay for their products. And they didn’t regret it.
Today, if you want to order a pizza from Domino’s, you need to place your order on Domino’s website, pick the wide range of pizzas, and pay via cryptocurrency.
Company #5: Tesla
Elon Musk, the CEO of the electric carmaker Tesla is one of the most powerful crypto influencers. It takes posting just a single tweet from him to make or break a cryptocurrency.
So, it seems pretty logical that his company, Tesla, will accept Bitcoin and other cryptocurrencies as a payment for their popular electric vehicles.
Company #6: Mastercard
Mastercard is another company in the row that realized they need to accept crypto payments to level up their business.
In 2021, Mastercard announced they are ready for the future of crypto and payments. They teamed up with Wirex and BitPay to create crypto cards that allow users to convert their digital assets to traditional currencies.
Company #7: Amazon
Amazon also joined the ranks of other crypto-friendly tech giants. The thing is that this e-commerce company doesn’t directly accept crypto.
But, they give you the option to get Amazon vouchers through the platform Bitrefill, which helps you convert crypto to gift cards.
Company #8: Shopify
Following Amazon’s example, Shopify, the world-class e-commerce platform, also joined the crypto wave.
Shopify’s website itself can’t use bitcoin payments due to its algorithm that doesn’t support digital currencies. But, they managed to find a way through. Today, they are using the BitPay service to allow Bitcoin payments.
Company #9: Twitch
In 2014, one of the major interactive live streaming services, Twitch (owned by Amazon), added crypto as one of its payment options.
Today, this leading game streaming video platform accepts Bitcoin, Ether, Bitcoin Cash, XRP, USD Coin, and other less known coins such as PAX, BUSD, and GUSD.
Company #10: Wikipedia
It may come as a surprise that the world’s most extensive and comprehensive open-source encyclopedia, Wikipedia, is part of the crypto revolution.
Wikipedia is accepting donations and financial contributions in Bitcoin using BitPay as the payment platform.
To wrap up
Crypto is a game-changer for payment systems as we know them. There is no way back.
The companies listed above prove that paying with cryptocurrencies is the way forward for brands that will stand out from the crowd.
To join the crypto revolution today, reach out to us today.