Cryptocurrency’s popularity is rising. But can you buy anything with Bitcoin? In short, the answer is yes. Bitcoin payments are increasingly being accepted by some big brands — especially in online stores. Many e-commerce sites manage to avoid volatility by instantly converting BTC into dollars, eliminating the risk of volatility.
Five Big Brands That Accept Bitcoin Transactions
1. Expedia
This travel giant was one of the first online retailers to get on board with blockchain in 2014. Although the site removed BTC as a form of payment four years later, Bitcoin made a triumphant return in 2020 thanks to a partnership with Travala. Now, crypto adopters can snap up flights and hotels using cryptocurrency through a trusted site. CheapAir.com is an alternative for also using Bitcoin to fulfill your travel needs.
2. Overstock.com
The U.S. e-commerce retailer started accepting Bitcoin thanks to a partnership with Coinbase, and it also supports other cryptocurrencies. (Apparently, digital cameras, pots and pans, and men’s shirts are the most popular BTC purchases.)
3. JM Bullion
The precious metals platform — which offers gold, silver, copper, and platinum — teamed up with BitPay to offer Bitcoin payments. It offers a 3% discount on BTC purchases thanks to how the site saves on debit card processing fees.
4. Microsoft
If you want to buy games and accessories from the Xbox Store, or purchase apps on Windows, you can redeem Bitcoin in your Microsoft account.
5. Paypal
Oct. 21, 2020, PayPal announced the launch of a new service enabling its customers to buy, hold and sell cryptocurrency directly from their PayPal account, and signaled its plans to significantly increase cryptocurrency’s utility by making it available as a funding source for purchases at its 26 million merchants worldwide.
Adoption Is Rising
Although the biggest e-commerce platform of them all —Amazon — is yet to accept Bitcoin directly, browser extensions mean that it is possible to make purchases on this site using cryptocurrency.
Tools such as Shopify are also making it easier for merchants to accept BTC, offering a transparent approach to transaction fees. Meanwhile, Visa is allowing select cryptocurrency companies to offer crypto debit cards that can be used around the world.
These developments, when combined with Bitcoin ATMs, mean buying Bitcoin for the first time has never been easier. Cryptocurrency is set to become an increasingly common form of payment in the years to come — especially as online retailers catch up.
