When Bitcoin was introduced to the market and the cryptocurrency market’s velocity unveiled itself, the key reason was to develop a decentralized currency system having no centralized control and use it for making anonymous payments. However, over time and with the rapid popularity of the digital currency system, the market value movements, liquidation, and availability of Bitcoins or altcoins started to make more news. However, with more companies, small businesses to business giants recognizing and accepting cryptocurrencies the scope of making use of your cryptocurrency holdings have expanded manyfold. To transact and use cryptocurrency in different spheres at first you need to:
- You can build your cryptocurrency holding through an exchange with fiat currency.
- You can store all your cryptocurrencies in wallets, online or offline
- Through your cryptocurrency wallet, you can send and receive payments
- You can select any exchange or wallet which lists the cryptocurrencies which you hold
Wallets to Pay
The growing demand for cryptocurrency has compelled many physical stores apart from eCommerce platforms to accept payments in cryptocurrency forms as well. The basic requirement to process a payment with cryptocurrency is to have a wallet application installed on your laptop or smartphone.
Most cryptocurrency investors and traders use cryptocurrency exchange wallets to transfer funds to other users in other exchanges or across the same exchange through their exclusive private key. Not only this, an exchange lists some cryptocurrencies and when you are making transactions with these cryptocurrencies, you will get better functioning and faster processing as well. Nowadays many stores, restaurants, motels, etc. are starting to accept cryptocurrencies as payments, which again is a common way to start investing or acquiring your cryptocurrency assets. In these cases, when you are traveling or out for a dinner or at a pizza outlet and you need to pay with digital coins, you need to have a wallet app that facilitates QR scanning, one of the most common ways for crypto payments to particular addresses. Many stores and business places have also integrated near-field communication which allows one to make touchless swift crypto payments.
Who Accepts Payment with Cryptocurrency?
Cryptocurrency is evolved hugely since its emergence in the market. Today not only physical stores, and eCommerce platforms but many iconic international brands and platforms, even Federal banks have stepped up to recognize cryptocurrencies. However, there are secured cryptocurrency payment gateways that facilitate fast payment through cryptocurrencies. Besides these payment gateways allows instant conversion of crypto tokens to fiat currency at the time of payments so that there is no price deflation.
Some of the companies which made a huge impact on the cryptocurrency market altogether with the futuristic perseverance and acceptance of cryptocurrency payments, looking at the prospects of digital currency include:
- Microsoft
- AT&T
- Overstock
- Paypal
- AMC Theaters
- Starbucks
- Newegg
Cryptocurrency Payment on Amazon
Amazon even though known to accept crypto payment, doesn’t accept Bitcoin or altcoins directly. However, despite all that, there are ways how you can make payments on Amazon using your cryptocurrency holdings. However, the process of payment since not direct and involves a lengthy roundabout way. You can find wallets that allow you to easily convert your holdings to fiat currency on an exchange right at the moment of paying at Amazon. We all know the gift ard facilities available on amazon. You can therefore use your Bitcoin, Ethereum, Cardano, Litecoin, etc. other altcoins to pay and buy Amazon gift cards.
Video Games, Travel, Food
Among many videos crafting companies, Microsoft is one of the major ones that have recently started to offer apps and video games against cryptocurrency payments. Minecraft server is yet another in the gaming space which is actively using the Bitcoin network to power up their design of in-game currency.
Expedia, which is a popular travel platform for booking hotels, homestays, and flights while travelling accepts cryptocurrency payments. Besides you can book your flight with Cheap Air as well with digital coins. Many food joints and restaurants these days are also accepting Bitcoins.
However, to transact and trade in cryptocurrency you need to pick a reliable and safe crypto exchange and ensure that you keep a well-diversified crypto holding since every business does not accept all cryptocurrencies.
