From Microsoft to Newegg: Which Major Companies Are Accepting Crypto Payments Today?
Cryptocurrency is a digital asset that uses blockchain technology, allowing fast and transparent yet secure transactions. Unlike fiat currencies, it’s not subject to regulations and control of one government or a centralized bank.
Its decentralized nature has earned mixed reactions from states worldwide, with the European Union and countries, including the United States, Japan, the United Kingdom, and Australia, accepting it as a legal tender. Thus, from one crypto company in 2009, the sector has grown into 22,993 companies forming the entire USD$1 trillion crypto market.
Before achieving such status, the cryptocurrency market had its ups and downs due to its volatility. For instance, the world’s leading virtual currency started with less than a penny’s worth, but at its peak, valuation reached USD$68,000 in 2021. Despite the risks, investors and consumers continue to embrace this financial technology for potentially lucrative returns and convenience.
With its increased adoption, major companies worldwide have opened their doors to cryptocurrency. Likewise, crypto coupon discounts are offered for various money-saving deals, including crypto account opening, tutorials, trading, and product discounts. For extra savings, check out DontPayFull.com to find the latest cryptocurrency coupons and deals.
Below are some of the most popular companies that accept crypto payments.
The world’s largest software company was one of the first few companies that saw cryptocurrency’s growth potential. Microsoft has been accepting crypto payments for its digital products since 2014.
This added convenience has enabled individuals and business consumers to pay for the company’s digital content for computers, mobile phones, and gaming consoles. Crypto payments have likely contributed to the company’s robust growth, with revenues reaching over USD$198 billion in 2022.
Germany allowed virtual currency in their financial system in 2013 and thus began licensing these companies. This has proven beneficial to German automobile maker Bayerische Motoren Werke or BWM, which sells luxury cars and motorbikes worldwide.
Its dealerships in the UK and the US are accepting crypto payments by tapping a third-party payment processor. As such, buyers don’t need to bring cash or credit cards for their big-ticket purchases.
With 201.79 million wireless subscribers, it would be a mistake if AT&T, the world’s biggest telecommunications company, didn’t jump into the crypto payment bandwagon. In 2019, the company tapped a reputable cryptocurrency payment processor as a partner, making it the first mobile services provider to do so. Currently, clients can pay through the AT&T app or their online account.
Another US-based company with an international presence has made it to the list. Home Depot, a leading home improvement retailer, reported global revenues of USD$157.4 billion in 2022, representing a 4% increase from the previous year.
The company relies on a crypto payment processing system in its stores. This system does not need new hardware and immediately converts virtual currency to dollars, making payments convenient and seamless.
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This leading live-streaming app, a subsidiary of tech giant Amazon, is a multi-billion-dollar company. Founded in 2011, the firm has grown exponentially recently and enjoys 140 million unique visitors monthly. Twitch accepts a range of cryptocurrency payments from popular and less popular companies.
Paypal is also one of the earliest adopters of cryptocurrency payments, which began accepting virtual currencies three months before tech giant Microsoft in 2014. This American company, formed in 2000, is a digital payment pioneer and had digital entrepreneur Elon Musk as its former founder. PayPal grew alongside eBay, an e-commerce company that owned the former until 2015.
As an internet payment trailblazer, PayPal supports crypto transfers between personal accounts into and out of the platform. It also allows users to buy, sell, and hold cryptocurrencies.
Another prolific businessman who doesn’t shy away from technology is Sir Richard Branson. In 2013, the billionaire said they accepted their first crypto payment for Virgin Galactic, an ambitious space travel plan that held its maiden flight in 2018. The booking for the said space flight was valued at USD$250,000. The company is preparing to launch its commercial space trips soon.
Its subsidiaries accept crypto payments here on Earth too. Virgin Airlines and Virgin Mobile allow consumers to pay for services using the most popular digital currency.
Newegg is an online electronics retailer that sells products like laptops, gaming accessories, and personal computer parts, among many other consumer electronic items. It’s also a marketplace for sellers who want to sell items globally.
With headquarters in California and several distribution facilities around North America, Newegg caters to countries across all regions, including Asia, Europe, Latin America, Oceania, and the Middle Easters markets.
Newegg accepts crypto payments instantly and doesn’t rely on third-party payment processors. It has likewise recognized the virtual currency market’s popularity by selling cryptocurrency mining starter kits.
How does a cryptocurrency payment work?
Merchants may choose to accept crypto payments instantly using their wallets. Opening an e-wallet entails opening an account and funding it with virtual currencies using a debit or credit card. Digital money in your e-wallet can be used in establishments accepting crypto payments, a few of which are listed above.
On the other hand, merchants likewise need to open a crypto account or through their payment processor to start accepting money. Most businesses tap third-party processors to convert these currencies to fiat money for better crypto management.
Payment processing companies will convert the crypto value according to the merchant’s preferred currency upon in-store payment through the app and other online channels. The amount is then deposited to the merchant’s bank account.
Providers charge certain transaction fees and honor crypto coupons, allowing payment discounts for various products and services.
Concluding thoughts
Cryptocurrency has revolutionized people’s financial transactions and habits in recent years. In countries where they’re allowed, crypto payments allow merchants to provide convenient, fast, and secure payments. So, this list of companies will likely grow despite doubts and criticisms regarding the crypto market’s stability.
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