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Bitcoin (BTC) is a 21st-century creation, born on the fertile grounds of computer science. It’s considered the first cryptocurrency ever created, opening the roads for the nearly 8,000 market today. Today, BTC is accepted almost everywhere, from online retailers to coffee shops. Bitcoin is even considered legal tender in some places.
It’s use as tender has become more common in recent years as it’s global profile has begun to legitimise its use and future. E-commerce companies have begun to allow it to be traded via their platforms. Not only this, but shops are accepting them as payment methods. One notable example is the iGaming industry. Providers have added it to their list of alternative payment methods – another in the arsenal, so to speak. Games who sign up to play the latest in video slots – find more information here – can deposit bank roll and withdraw earnings in bitcoin, mostly, but other mainstream coins too.
From Zero to Hero
The term “cryptocurrency” was only known in the internet’s fringes, in forums for enthusiasts. Cryptos are everywhere, from stock exchanges to online casinos. When we see a single Bitcoin rated at USD47,134.39, it’s to believe that someone once used 10,000BTC to buy two Papa John’s pizzas.
The most expensive pizzas in history would cost about half a billion dollars today. However, this crypto was worth only a few cents back then. Check below a few giants that are now operating with cryptos, casting aside any doubt on whether it’s just a passing fad.
Mastercard
Last month, Mastercard launched a crypto-wallet that allows users to store, buy, and sell cryptos. Frequent users can also enjoy loyalty schemes. Bakkt Holdings Inc is backing up the credit card behemoth in this new venture. The Intercontinental Exchange, an NYSE-owner company, Launched this platform in 2018.
Visa
Visa doesn’t accept cryptos just yet. However, there’s a pilot project with Crypto.com and plans to support cryptocurrencies in the future. So far, Visa works with USD Coin (USDC), which isn’t a cryptocurrency, but a stablecoin, which means its value is attached to the US dollar.
BitPay
After the pizza case, another company decided to take Bitcoins seriously. BitPay started accepting BTC in May 2011. It’s also the first company to create a smartphone e-wallet. With this partnership, other companies like Newegg, and WordPress, also started getting it.
PayPal
A sure leader in the e-wallets market, PayPal now operates with cryptos, too. The company has created a specific wallet for crypto users to sell, buy, and store several different cryptocurrencies. Unfortunately, this service is mostly unavailable outside the United States. PayPal has recently announced that British clients could also trade Ethereum, Litecoin, and Bitcoin Cash. PayPal is a pioneer in accepting cryptos.
Skrill
Skrill is another traditional e-wallet that works with 40 currencies worldwide. Skrill’s clients can now operate with cryptos using their favourite e-wallet, too. This company is one of PayPal’s strongest competitors in this market.
Stripe
Stripe is almost a one-stop payment processor, extremely popular among online retailers. It allows operations with over 130 currencies. It used to accept cryptos until 2018, but the company stopped taking the digital asset over concerns about its volatility. However, Stripe’s co-founder, John Collision, said the company might accept it again in the future.
Go Cardless
The British company is a direct debit provider. Through Go Cardless, clients can receive and make payments and schedule payments. Moreover, fees are usually lower than with PayPal.
Conclusion
Cryptocurrencies have taken the e-commerce world by storm. It’s such a popular payment method that there are even free plugins for personal pages, where people can make payments or donations. Nowadays, not many people question whether cryptos are here to stay or not.
