The first digital currency or cryptocurrency was first created 12 years ago, called Bitcoin. At that time, it was a very interesting and unusual project, as it was possible to make payments without the involvement of banking institutions. Hundreds of millions of people, who for some reason did not have the ability and desire to use banking services, got the opportunity to use digital currency as an alternative to fiat money.
In 12 years, the financial market has changed significantly, now every day cryptocurrencies are created as well as disappear. There are about 11,000 tokens in total. According to a study conducted in the U.S., about 14% of the population owns cryptocurrency, about the same number is planning to buy it. Also, most recently, the news about El Salvador recognizing bitcoin as an official means of payment broke all over the world.
But there were a number of factors that somehow hindered the use of this new currency as an official means of payment, among them are environmental problems, because the production of the cryptocurrency consumes a lot of energy, which, in turn, is produced by burning fuel. Also transaction fees are sometimes quite high. However, some corporations just a large company decided to accept cryptocurrency payments. Let’s take a look at them:
This is one of the first services that started accepting Bitcoin as a means of payment, this happened 7 years ago. Now this company is in partnership with Coinbase.
This is already a travel service that is ready to accept payment for its services in several cryptocurrencies, in addition to bitcoin, it accepts in ethereum, Dogecoin and Cardano. This service is an official partner of the most famous cryptocurrency exchange Binance and Crypto.com. Using the company’s website, you can pay for your stay in hotels around the world in cryptocurrency. Later this service has developed its own token, which has the acronym AVA, which has increased in value by 100% since mid-summer.
Now PayPal customers in North America can buy and sell cryptocurrency through this service also use it to pay for some services. Your personal account has cryptocurrency wallets and, if you have money on them, you can make payments from any of 30 million partners of this service.
This is a well-known mobile operator that became the first to accept payments for communications services in cryptocurrency, this happened in 2019. A third-party service called Bitpay is used for this purpose. To pay for the services of this cellular operator, just choose Bitpay to pay with digital currencies.
This is a world-famous coffee chain, the company has partnered with the payment solution Bakkt, through which you can pay for your order. Also Bakkt has an agreement with Cantaloupe, Windham Hotels and Resorts, which means it is possible to pay for these companies through cryptocurrency as well.
This is a company through which you can book a flight or hotel, since 2013, payment is also accepted through Bitcoin, later added Etherium Dogicoin and some others.
It is a basketball team that sells tickets to its games, merchandise with branding using various cryptocurrencies, among the cryptocurrencies available for payment are Bitcoin, Etherium, Binance USD, DogeCoin. The team also uses bitpay to make cryptocurrency payments.
Cryptocurrency is really widespread right now, with a study conducted in 2020 concluding that somehow more than a third of businesses accept payments with digital currency.
Some other companies are considering accepting correct payments, but nevertheless both investors and private customers are now turning to market giants Amazon and Walmart after both the former and the latter company began searching for employees to process payments.
Also people are interested in the possibility of receiving cashback in cryptocurrency when using Visa and Mastercard cards. Now a lot of talk about the taxation of cryptocurrency, because when you make a purchase in digital currency, you make a sale, and any sale is taxed, until the end it is not clear how to pay it read this tax, but sooner or later will have to do it.