At the time Bitcoin was launched, there were many skeptics who saw BTC merely as a passing trend that would eventually disappear as fast as it appeared.
But this has not happened. Now, nearly a decade later, Bitcoin is still very much with us today and has had a profound impact on the online trade industry.
Who would have thought something that only exists in virtual reality would one-day out-trump gold in its value? However, it has not been without its problems – the words Mt. Gox come to mind.
But with each disaster comes new and improved mechanisms to protect Bitcoin users. Now, nearly a decade on from its inception, Bitcoin is being taken seriously as a mainstream means of transaction. That is good news for all those traders who have been holding on to their supply of Bitcoin until the right moment. Because the value of Bitcoin is sky high compared to fiat currencies, you could make a number of handsome purchases with it before even thinking about mining for more.
While Bitcoin has come a long way since its initial launch back in ’09, it still has a long way to go before reaching the same level of acceptance that most fiat currencies have.
In recent years, there has been a rising number of large corporations that have begun to accept Bitcoin as a legitimate currency for selling their products on the internet. However, the ever-fluctuating value of Bitcoin does not absolutely guarantee a healthy revenue stream for the company.
Anyway, let us take a look at some of those companies that have decided to include Bitcoin as means of conducting business transactions.
It is worth mentioning Ovestock.com right at the top of our list since, in 2014, it became the first retailer on the internet to accept Bitcoin as a means of payment. As a customer, you can use Bitcoin to purchase anything from electronic devices to novelty items for the home. What’s more, it is not just Bitcoin that you can use but other prominent cryptocurrencies such as Ethereum, Monero, Litecoin, Bitcoin Cash, and Dash as well.
According to Bitcoin experts from HowWeTrade: “Overstock is one of the first big brands to accept bitcoin. You can purchase stock images easily using BTC. If you are already using overstock, then make sure you pay with crypto next time.”
One of the world’s most frequented online travel agencies, Expedia was also among the first major companies to accept Bitcoin as a means of payment. They actually collaborated with Coinbase to make the new payment option available to customers. For now, the only thing you can pay for with Bitcoin at Expedia is a hotel booking. However, it is quite possible that Bitcoin payments will be extended to other services like flight bookings and travel activities.
While Bitcoin is not a staple means of payment for every company selling products and services, you can instead pay in Bitcoin for their gift cards with eGifter.com. eGifter allows you to buy products from all kinds of popular online stores like Amazon, Sephora, Home Depot, and JCPenny.
If you are tech nerd and you like paying for stuff in Bitcoin, you will be glad to know that Newegg now accepts Bitcoin as a payment option. Newegg has managed this by teaming up with BitPay. However, this payment option may not be available for products from other sellers that are sold on Newegg’s site. What’s more, there are quite a few purchases for which Newegg does not accept Bitcoin. They include:
- Marketplace items
- Newegg Gift Cards (digital)
- Premier memberships
- Return shipping labels
- Subscription orders
- Will Call orders
Dish is a satellite TV and internet service provider. It has been accepting payments in Bitcoin since August 2014, making it the first subscribed television provider to do so. It is also one of the largest. The option to pay in Bitcoin has since been made available to customers who want to make a one-time payment on mydish.com. For purposes of trading in Bitcoin, Dish has teamed up with Coinbase to facilitate its transactions with Bitcoin.
While you can now use Bitcoin to fund your Microsoft account, you can only use it to purchase certain things like apps, games, and movies from either the Windows or Xbox store. You cannot use Bitcoin to make purchases from the Microsoft online store. Also, any Bitcoin that is deposited into your Microsoft account cannot be refunded.
These are just a few examples of fairly large corporations that have made Bitcoin a legitimate payment option for customers. But the list continues to grow!
Featured Image: DepositPhotos/ peshkova