Bitcoin has become a kind of status symbol in the world of digital currencies. Therefore, several commercial enterprises are coming forward to accept Support Bitcoin as payment, in lieu of credit cards. Such companies stand apart in a crowd, and acquire a special ‘aura’ in the virtual world.
Apart from those, who have already bonded with Bitcoin, there are some companies waiting to join the bandwagon. One of them is BTCS Inc., a Nasdaq-listed establishment. It desires to distribute a dividend, which may be payable in BTC. Titled as Bividend, it is valued at $0.05 in Bitcoin for ownership of every stock/share belonging to the company. It is essential to own a Bitcoin wallet, for receiving the Bividend. The alternative to the wallet is receipt of a cash dividend.
It is not only private organizations that are eager to connect with Bitcoin, but also government agencies. For instance, Chandler’s Phoenix suburb has been allowing residents to pay utility bills in BTC, since March 2022. The only condition is that they must have Pay Pal accounts. Additionally, the municipality is keen to avoid the risks of volatility affecting such transactions. Therefore, it is bringing Invoice Cloud into play, for converting digital currency payments into cash payments.
Retailers Permitting Bitcoin Payments
Bill Gates was quick to accept Bitcoin, for he felt that cryptocurrencies were better than traditional ones. Therefore, Microsoft’s Xbox Store has been friendly with BTC, since 2014. There was a break in between, when the crypto crash occurred, and Bitcoin suffered the adverse effects of volatility. However, all is well again between Bitcoin and Microsoft’s online store.
True, Starbucks refused to have anything to do with this digital currency, until 2019. Even then, the company refused to have direct access to Bitcoin. Instead, it would connect with the Bakkt app, first. Today, the app is easily available, and people may purchase Starbucks’ products with it, using Bitcoin.
It is a boon for people building their own residences! Home Depot is North America’s largest hardware store chain, supplying all kinds of materials. These stores have installed Flexa’s checkout systems on their respective premises. Flexa’s systems have partnered with Geminis, permitting Bitcoin payments to go through smoothly.
Spedn is the app provided by Winklevoss Flexa, and it has gone into partnership with Whole Foods. As a result, purchasing all manner of groceries has become super easy! Payments may be done with Bitcoin. Alternatives to BTC, are the Gemini dollar, Litecoin, etc.
Other companies that may go in for the Spedn app, include Jamba Juice, Regal Cinemas, Baskin Robbins, etc.
Bitcoin is the first preference. However, Overstock is ready to accept other digital currencies too. Therefore, it is possible to purchase furniture or household goods with ease.
Best of all, the company is a stakeholder of Bitcoin too! Therefore, transacting with cryptocurrencies, especially BTC, is easy.
Crypto enthusiasts are familiar with this company, for it supplies mining hardware. Such hardware refers to that which proves useful in computer systems. Miners require them for figuring out the complex algorithms that will permit them to create blocks.
Noting that its hardware is so popular, Newegg decided to accept Bitcoin as a mode of payment.
This establishment is a pro-Internet freedom one. It proves useful for buying domain names. Since the company is ready to accept Bitcoin, as well as, fight for freedom, the crypto enthusiasts love it!
The usage of Bitcoin permits users to receive credits on their Namecheap accounts.
Precautions to Take Before Paying with Bitcoin
To begin with, it is essential to keep the Bitcoin wallet secure. After all, funds may be transferred from anywhere and everywhere. Therefore, criminals seek and find loopholes, easily.
Bitcoin is subject to volatility, even within a short period. The global economy is eternally changing, markets could often prove illiquid, etc. Therefore, service providers find it easy to convert Bitcoin payments into local currencies. The existing price of Bitcoin must always be kept in mind, when paying for purchases.
Note that once a Bitcoin payment goes through, it is irreversible. Therefore, the payments must go to the appropriate addresses.
Finally, Bitcoin may be liable to taxation in certain countries. It is not a government-issued currency. For investment and trading check Bitcoin smart.