The list of 25 big companies that accept Bitcoin, Ethereum and other cryptocurrencies consists of retailers, tech giants, fast food chains and many other companies that have jumped on the bandwagon as cryptocurrencies have gone mainstream. And it’s a good thing, because given the popularity that Bitcoin and other cryptocurrencies have registered in the last couple of years, embracing them early allows these companies to attract more customers with a new payment method and to adjust to the new technology as needed.
There currently are well over 1,000 cryptocurrencies in circulation at the moment, but only a handful have managed to become popular. Bitcoin, stands out as the oldest one, as many large companies started accepting Bitcoins before moving on to other cryptocurrencies. There are currently nearly 16.68 million Bitcoins in circulation with a total value of $103.82 billion. Other big cryptocurrencies include Ethereum, Ripple, Litecoin and Bitcoin Cash.
Cryptocurrencies have been around since 2009, but only since 2014 have they been gaining momentum as their value has surged and businesses and industries around the world started to accept it. Earlier this year, Japan declared Bitcoin a legal tender and several central banks around the world started to look closer at cryptocurrencies in the wake of more businesses accepting them as a form of payment, circumventing the established money system, while investors have poured money into new ventures through Initial Coin Offerings (ICOs).
There are many reasons why there are big companies that accept Bitcoin, Ethereum and other cryptocurrencies (the common name given to cryptocurrencies other than Bitcoin). One of the main reasons to accept Bitcoin as a form of payment is the security and fraud-prevention that is included in the blockchain technology on which Bitcoin and other cryptocurrencies are based on. This prevents chargebacks, allowing it to avoid time- and money-consuming work, and doesn’t affect its credit. Moreover, for consumers, Bitcoin offers anonymity, as the transactions cannot be directly linked to the consumer’s information. Given the data breaches at Home Depot Inc (NYSE:HD), Target Corporation (NYSE:TGT), and other retailers, costumers put their privacy very high and accepting Bitcoin allows retailers to satisfy this requirement. Moreover, Bitcoin also carries lower transaction fees compared to debit and credit cards and the money is received much faster than compared to other payment methods.
Given these advantages, it’s not surprising that there are over 80,000 businesses estimated to use Bitcoin and altcoins, from small coffee houses to big corporations. The adoption of cryptocurrencies for businesses doesn’t require large investments, because large cryptocurrency exchanges and payment companies like Coinbase and BitPay are providing the technology through partnerships.
With this in mind, let’s take a closer look at 25 big companies that accept Bitcoin, Ethereum and other cryptocurrencies. Most companies in this list accept only Bitcoin, but if you are interested in 10 Companies and Businesses That Accept Ethereum, take a look at this list.