Adapting changes, and accepting new concepts and technologies sometimes takes time, which is a truth for cryptocurrency being accepted by the global business world as a legitimate mode of payment for services or products.
Even though a few brands and companies understood the nerves of the digital cryptocurrencies era, and started accepting it before 2020, 2021 came as a game-changing year.
The show on the global stage was taken away by the cryptocurrency market which hit its all-time high, along with Bitcoin which skyrocketed to around $69,000.
The potential of the cryptocurrency market was unveiled to the world, and many big whales of the business world came upfront to accept cryptocurrency as a mode of payment.
Additionally, even though it was believed that the declining market following the ATH would slow down the acceptance of cryptocurrencies, quite the opposite is true: many major corporations continue to have a great deal of faith in them.
Major Companies Accepting Crypto Payments
With Bitcoin initiating the legacy of cryptocurrencies only in 2009, it was not easy for the world to accept it right away.
The cryptocurrency was new, however, Microsoft changed the way how the world was perceiving cryptocurrency as a payment mode.
Sometimes all you need is someone to take a lead, and the world follows. That is what happened in 2014 when Microsoft surfaced as the first global company to accept Bitcoin as a mode of payment.
1. Whole Foods
Whole Foods Market is one of the leading national grocery store chains, which began accepting cryptocurrency payments in 2017.
While initially, it accepted only Bitcoins, later it added Litecoin and Ethereum too. In 2018, it announced the further addition of more cryptocurrencies.
Deirdre Schuon the spokesperson of Whole Foods Market revealed that it was a business move on part of the company to encourage and accommodate consumers looking to facilitate their services through the latest technologies.
PayPal is known to be a leading global payment processor in 2020 announced its new payment process development which would accept Bitcoin and other altcoins as a mode of payment from 2020.
PayPal being a leading brand and its acceptance of cryptocurrency payment worked as a role model step for many companies.
Soon after PayPal Amazon and Starbucks and Amazon, followed by companies like NewEgg, Home Depot, and Etsy also announced their acceptance of cryptocurrency in payments.
Well, this gave investors and newbies added interest and zeal to deal in cryptocurrency trading.
While Gucci was the first luxury brand to embrace cryptocurrency payment, Balenciaga under the Kering Group was not far behind, and in 2022 itself started accepting crypto payments.
Apart from online crypto payments, this French fashion brand has also announced crypto payment acceptance in its New York and Beverly Hills flagship stores.
However, currently, the brand accepts payments only in Bitcoin and Ethereum with plans to accept furthermore altcoins in the future.
The well-known Mexican fast-food chain Chipotle recently announced that it would accept cryptocurrency payments starting on June 2, 2022.
In the US, the restaurant chain runs about 2,950 locations. While the food stores chain will accept crypto payment in all its stores, it has astonishingly announced payment in more than 98 cryptocurrencies.
This list includes Bitcoin and Ethereum along with seven USD-backed stablecoins too.
Similarly, other food chains are also known to accept cryptocurrency Subway, Taco Bell Starbucks, etc.
Speaking of e-commerce companies Shopify is one of the world’s largest ones which has recently announced its business tie-up with Crypto.com.
This tie-up is dedicated to facilitating Shopify users to make payments with their cryptocurrency holdings.
About 20 cryptocurrencies, including Ether, Cronos, Bitcoin, Doge, and Shiba Inu coin, are currently accepted by the company.
Customers have even more reason to rejoice because Shopify will charge no transaction fees and only a 0.5% settlement fee as a result of its partnership with Crypto.com.
There are many more companies like Tag Heuer, Rakuten, CheapAir.com, AT&T, AMC Theatres, Dish Network, Twitch, and Emirates which are also accepting cryptocurrency payments to facilitate their customers.
Just like cryptocurrency investment in Yuan is also gearing up with great potential and scopes. You can know more about it and use the Digital Yuan trading bot to begin trading in Yuan too along with cryptocurrencies.