For so long, a lot of cryptocurrency experts suggested that Bitcoin wasn’t a suitable crypto for payments and transactions. After the price swings of 2018, Bitcoin was seen as too volatile to be used as an actual payment method. In reality, however, more entities now accept Bitcoin as a valid payment method.
The list is growing at a stunning rate as we entered 2019, and it remains on that trajectory. If this trend is maintained, we can expect to see Bitcoin being widely used to pay for anything from small purchases to tuition fees. So, what’s next for Bitcoin payments?
Online Outlets Joining the Excitement
Online stores and e-commerce platforms are among the entities that accept Bitcoin payments today. After PayPal announced its support for Bitcoin, many e-commerce sites followed suit and began recognizing Bitcoin as a viable payment method.
Newegg is among the most recent companies to accept Bitcoin. As one of the largest retailers of computer parts and gadgets, Newegg has the ability to bring Bitcoin to more users, particularly those who are already interested in technology.
The same can be said for the travel giant CheapAir. As one of the leading online travel agents in the US, CheapAir’s decision to stop accepting Bitcoin due to the Coinbase shutdown in 2018 was seen as a big move. The company is now working with another exchange and has begun accepting Bitcoin again.
Shopify is another big e-commerce platform that supports Bitcoin natively. Working alongside BitPay as its payment processor of choice, Shopify now offers Bitcoin as a payment option for all of its merchants. Many merchants are using the facility too, which is a good sign for the cryptocurrency.
Services and Solutions
When Bitcoin transaction fees went through the roof, Microsoft was one of the last companies to stop accepting Bitcoin payments. It was seen as a lastresort move by the company and not alack of confidence for the cryptocurrency. That conclusion was indeed accurate because Microsoft now once again accepts Bitcoin payments for most of its services, including movies, games, and apps.
Wikipedia is also an outlet that accepts Bitcoin donations. Wikipedia even places Bitcoin donations front and center on its knowledge platform. Being one of the most popular websites in the world, Wikipedia’s support for Bitcoin has always been seen as a big push for the cryptocurrency.
Another popular service provider that accepts Bitcoin in recent years is Namecheap. As we all know, Namecheap is one of the best when it comes to domain name registration. The company also offers hosting services and advanced solutions for companies, which is why its decision to accept Bitcoin payments is an interesting one.
Some entities accept Bitcoin payments as their only option. This shows just how powerful the decentralized nature of Bitcoin really is when implemented in actual market conditions. WikiLeaks is one of those entities, famously blocked from using other payment options for its provocative content and the way it operates. Bitcoin is the only payment method the site uses to gather financial support.
It is also worth noting that more entities from various industries – beyond the tech and online landscape – are accepting Bitcoin payments. Some universities have been accepting Bitcoin payments from students for more than a year, and new universities are joining the excitement. You can actually get an online MBA degree or pursue your bachelor’s degree using Bitcoin.
Some real estate management companies also accept Bitcoin payments for rent. Although there were reports about property deals being completed in Bitcoin, it is much easier to find apartments or houses that you can rent or lease using Bitcoin. This too is a move that signifies the way people accepts Bitcoin as a payment method.
These are all exciting changes, and they are changes that we’re fascinated about. You can see from the directory here on UseBitcoins.Info that the number of service providers and merchants accepting Bitcoin continues to grow. Both our Services and Goods categories are filled with new merchants and e-commerce sites where you can use Bitcoin.
It is also worth noting that Bitcoin is not the only cryptocurrency that gets this kind of recognition. In recent years, Ethereum has also gained a lot of traction, with Dash and Litecoin following just behind it. The latter is very popular on the micropayment scene.
So, what’s next for Bitcoin as a payment method? It is safe to say that crypto experts were wrong when they predicted the end of Bitcoin as a payment method. From the updates happening lately, this cryptocurrency is just getting started. Expect to see our directory growing even faster in the near future.