The wave around bitcoin and other cryptocurrencies might just go flat if all we do with them is to store value. For cryptocurrencies to stand a chance in their war against the centralized fiat currency, it must be able to perform all the functions of fiat money. The most important of which is to be able to function as a medium of exchange. In fact, anything called money must be able to have the citizens put their trust in it and begin to get respect by engaging it in commerce.
Bitcoin definitely is not getting left behind in this function. The acceptance of bitcoin, other cryptocurrencies, and the blockchain technology are daily growing and it is only fair to examine their daily retail acceptability in the market.
Common sectors and business that accept bitcoin and other cryptocurrencies
There are various online shopping and grocery stores that now accept bitcoin and crypto. For instance, GYFT, the online gift shopping store allows customers to check out with paying in various cryptocurrencies. Amazon via PURSE allows users to pay in bitcoin and OVERSTOCK also has an option for users to have a cryptocurrency payment experience on their platform.
Want to buy flowers with bitcoin? There are various online florists most of which now accept bitcoin and other cryptocurrencies as a form of payment. For lovers of cut flowers who would like to smell the roses paid for in crypto, it’s now possible. A very good example among others is cheapflowers.com.
Travel and Hotel reservations & airlines
Moving around with fiat currencies while on the move is not such a good idea. If not for the fear of thieves, one should actually fear the neck-breaking exchange rates. Travel companies accepting bitcoin include:
A Bit Sky
Travel By Bit
Smart Trip Platform
Airlines That Accept Bitcoin (or other cryptocurrencies)
Bitcoin online gateway for accepting payment in bitcoin
The major reason businesses don’t want to accept bitcoin is due to its volatility in the market. But to achieve a truly financial decentralized world, we all must consciously decide to join the train on making bitcoin and other altcoins easy to trade.
However, the problem concerning bitcoin’s market volatility has been solved with the advent of various bitcoin online gateways. This is like a plugin that is installed on any business website to allow customers to pay in bitcoin and the business owner receives an equivalent amount for the goods and services they provide. Examples of those gateways include:
1. COINGATE: CoinGate allows businesses to receive bitcoin and take their payout in the fiat currency of their choice like USD, AUD, EURO.
2. SPECTROCOIN: They provide payment integration tools for merchants that are based out of Europe. Their customer base is quite big and supports withdrawals in various countries.
3. BITPAY: BitPay is the granddaddy of bitcoin and cryptocurrency payment gateway services and has been in the market since the early inception of bitcoin in 2011. They provide services for over 40 popular e-commerce platforms which span over 38 countries and accept conversion into 8 major fiat currencies.