- Pavilion Hotels & Resorts group
- AXA Insurance
So far, cryptocurrencies have not been universally accepted as a payment method because of their high volatility. The bitcoin price dynamics are unpredictable, and companies cannot determine a stable cryptocurrency price for their products or services. This is why cryptos are still mostly used as an instrument for investing and storing money, while one of the main characteristics of a currency is that it can be used as a means of payment.
The moment when cryptos will reach this status is getting closer with an increasing number of companies ready to accept cryptocurrency payments. The opportunities of cryptocurrency holders are expanding every day. In this article, you will find a list of companies that offer their customers to pay in cryptocurrency.
The Latvia-based AirBaltic became the first airline that accepts Bitcoin as a payment option way back in 2014. In the following seven years, it processed over a thousand transactions — which may not seem like much but, considering the history of Bitcoin, is quite impressive. Another airline, LOT Polish Airlines, followed the example of airBaltic.
Pavilion Hotels & Resorts group is an international hotel chain based in Hong Kong. It has become the first hotel group to allow crypto as payment and now accepts 40 different tokens, including Bitcoin and Ethereum. The transactions are processed by the group’s partner, the Coindirect payment platform.
Starbucks is most often mentioned as an example of a company that accepts cryptocurrency. After conducting a successful experiment, the coffee chain offered its customers to use the Bakkt app and to pay for drinks and various goods at Starbucks in cryptos. The app’s developers state that over half a million users have used this service and tested a digital wallet.
Swiss clients of this insurance company can pay their bills in Bitcoin. AXA insurance decided to accept cryptos after a survey showed that one third of respondents between 18 and 55 already owned cryptocurrency and invested in this sphere.
КThe insurance policies now have a bar code that allows customers to pay their bills via the Bitcoin Suisse cryptocurrency exchange. The only restriction is that this innovation does not apply to life insurance.
The largest e-commerce player is preparing to launch its own cryptocurrency. Although Amazon does not accept direct cryptocurrency payments at the moment, users can buy special vouchers at Bitrefill and use them to pay for Amazon gift cards, to top up their phone, etc./p>
The world’s largest software developer cannot afford to be left behind in any IT-related area. Microsoft accepts Bitcoin as a payment option aiming to promote trust in cryptocurrencies. Customers can use Bitcoin to top up their accounts and pay for anything, including Xbox Live, Skype, and other services.
The company also actively engages in developing new technology. The ION project is a two-level authentication platform for the BTC network.
Elon Musk, who is known as a fan of everything new and unusual, has also turned his attention to cryptocurrency. However, his relationship with cryptos has been somewhat scandalous as it has sparked off financial turmoil in the cryptocurrency market. At first, Musk invested 1.5 billion US dollars in cryptocurrencies and announced that the company will permit Bitcoin payments. However, later Tesla stopped accepting crypto transactions until at least half of the tokens are mined in an environmentally friendly way — using renewable energy sources.
PayPal is another famous company that has offered its customers to pay in cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. There is an app that allows users to track the value of cryptocurrencies. These services have become available in the UK, but PayPal does not share any information as to whether it will be launched in other countries as well.
Visa has already developed and successfully tested its arrangement with Crypto.com. However, for now, Visa will only accept USDC stablecoins that are pegged to the US dollar.
Sotheby’s, the famous auction house, sold a rare 101-carat diamond for 12.3 million US dollars and accepted Bitcoin as payment. So far, it is the most valuable auction item bought with crypto.
Buyers can use cryptocurrency only for lots that indicate “cryptocurrency payments”. Bitcoin and Ethereum are accepted, and only approved exchange wallets can be used, such as Coinbase.
Amatil — Coca-Cola’s bottler and distributor in the Asia-Pacific region — offers crypto as a payment option based on its partnership with Centrapay. As of 2020, over two thousand vending machines in Australia and New Zealand accepted cryptocurrencies as payment for drinks.
The famous travel agency has a partnership with the Travala booking platform that has accepted crypto as a payment method for a long time. The agency’s website allows users to choose among 700,000 hotels and pay with one of over 30 cryptos.
This handmade cosmetics retailer has accepted Bitcoin since 2017 with Bitpay.com as its partner.