The world’s largest and oldest cryptocurrency, Bitcoin, is undoubtedly the most popular and is now accepted as a payment method. Although many merchants prefer stablecoins because they are not subject to volatility, a number of big companies are stuck with BTC since they believe it has proven it’s here to stay.
This article seeks to explore the firms that allow Bitcoin payments, and later, we will guide you on how to purchase and spend this precious digital asset.
Which Companies Accept Bitcoin?
Below are the popular firms that you can pay using Bitcoin. Some are early adopters, while others started supporting BTC payments just recently.
Microsoft can be considered an early adopter because it started accepting Bitcoin payments in 2014. The tech giant made it possible for its users to purchase applications and games using BTC, although it was a less popular payment option at the time. In 2018, Microsoft halted Bitcoin payments, citing high volatility. Three years later, the company resumed accepting BTC.
Home Depot is the second-biggest America-based hardware store chain. Its customers can buy building materials using Bitcoin, but the company converts the crypto asset into USD almost immediately as it only wants fiat currency on its balance sheets.
Similar to Microsoft, Twitch is also an early adopter. The video-streaming platform began supporting Bitcoin payments in 2014. In 2019, Twitch announced it would quit accepting payments in BTC because of high market volatility. A year later, the company reversed the decision. Today, besides Bitcoin, Twitch accepts Ethereum and BUSD.
Like Home Depot, Whole Foods allows customers to pay with BTC but converts the crypto to USD within minutes. Bitcoin is not the only cryptocurrency accepted as a payment method in this company. Holders of Litecoin and Ethereum can also spend their digital currencies here.
One of the popular gift card companies, Gyft, allows its clients to buy online gift cards using Bitcoin at no additional charges. The buying process is super easy. Once you are on the platform, choose the gift card you wish to buy, select Bitcoin as the preferred payment option, and then send the payment to the BTC wallet provided.
This football club makes it possible for fans to buy tickets and merchandise using Bitcoin and other cryptocurrencies like Ethereum and Utrust.
Save the Children
Save the Children is a non-governmental organization that fights for the rights of children to ensure they are healthy, protected, and educated. It has allowed well-wishers to donate BTC and other crypto assets since 2013.
Richard Branson-owned Virgin Airlines allows crypto users to make Bitcoin payments. That means you can book a ticket to travel to space without converting your crypto holding to fiat.
Do you wish to buy furniture for your dream home using Bitcoin? Well, Overstock makes that possible. The e-commerce giant has been accepting crypto payments for over five years. Along with BTC, you can shop using ETH, LTC, and DASH.
How to Buy Bitcoin
Bitcoin is decentralized by nature, meaning you cannot purchase it at any traditional financial institution. That said, you have to set up an account with a crypto exchange in order to buy BTC. Some of the famous exchanges include Binance, Coinbase, Kraken, and Crypto.com.
To get started, you must provide personal information such as your full name, phone number, email address, and an identification document. Once the account is verified, you can deposit some USD and buy BTC. After that, you may need a decentralized wallet to store your Bitcoin and have total control. Popular BTC wallets are Exodus, Trezor, and Ledger.
How Do You Spend BTC?
We have already looked at some of the big companies supporting Bitcoin payments. But there are also small businesses across various towns or even online that accept Bitcoin. If you find one, the process of sending a BTC payment is simple. First, select the product or service, then choose Bitcoin as the payment method. After that, log in to your wallet, enter the purchase amount, confirm the transaction, and that’s it; your payment is sent.
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