Bitcoin has become the currency of choice for many digital transactions. They exist to make online payments easier. Other than Bitcoin, digital currency utilizes cryptography to ensure security and prevent counterfeiting. It is completely transnational since it is not owned by any bank, government, or other form of authority. This form of currency can only be used to make online payments since it only exists in the digital world. Several sectors that foresee the hype of cryptocurrencies did not wait for these digital assets to turn into payment methods. Instead, they get on board with the current trend as soon as possible, some even dating around the 2010s.
Owner of Amazon has included Twitch into the Crypto strategy that clearly wants to attract more crypto users to engage in the streaming platform. With live streaming becoming incredibly popular over the years, some streamers or content creators have managed to make a living off gaming and streaming. Using crypto as a form of subscription is now valid and naysayers have shared that Twitch aims to grow bigger, including multiple entertainment sectors such as the sports industry.
Without wanting to feel left out, Malaysian law firms have also joined the hype by accepting payment for its legal services using virtual currency. They are proudly known to be the first Malaysian law firm to implement a virtual currency payment system for clients that prefers paying using crypto for legal fees. The firm’s principles of investing in technology and growing with their clients are shown by the decision to introduce a virtual currency payment system. MahWengKwai & Associates successfully partnered with Coinify that accepts, but not limited to, BTC (Bitcoin), ETH (Ethereum), LTC (Litecoin) and XRP (Ripple).
Tesla is known to be one of the biggest companies in the world that adopts crypto into their payment method and will undoubtedly make many other growing companies and organizations follow in Tesla’s footsteps. In March 2021, Elon Musk left everyone in awe with the sudden announcement that Tesla will be accepting BTC (Bitcoin) as a payment method for their vehicles. Tesla will maintain its internal and open-source software and any coins paid will be kept as Bitcoin rather than converted to a fiat currency.
Microsoft also joined a small group of businesses that support Bitcoin since 2014 as a form of payment. Purchasing apps, games and other digital contents created by Windows such as Windows Phone, Xbox Games, and others has been included in the payment option.
A well known and notoriously disgraceful imageboard website, has also secretly begun embracing cryptocurrencies. The 4Chan Pass can now be purchased with Bitcoin, Litecoin, Ethereum and Bitcoin Cash. The website is known to be crypto-friendly, it’s a possible reasoning as to why they have shifted to cryptocurrency payments.
In both the retail and cryptocurrency realms, Overstock is currently leading the way. Overstock goes so far as to embrace several cryptocurrencies in addition to Bitcoins. Not only they embrace Bitcoin, but they are also holding it. From the looks of it, they have plans in the blockchain community for the long run, rather than just using Bitcoin as a marketing gimmick.
TrueProperty might actually be the first property marketplace in the Philippines to allow Bitcoin payments. This move was made in response to requests and demand from a number of sellers and buyers to allow such payment. Some listings support bitcoin payments now, but not entirely. When users browse through listings, they can easily spot a property that accepts bitcoin payments.
The largest bank in Southeast Asia, DBS, has become one of the region’s first banks to launch its own digital payment. The exchange uses blockchain technology to provide trading, tokenization, and a digital asset custody ecosystem. Traders are allowed to exchange based on 4 different currencies – Singapore, U.S., Hong Kong dollars and Japanese Yen for 4 cryptocurrencies – Bitcoin, Ethereum, Bitcoin Cash and Ripple. However, the platform is only available to professional and high-profile investors, such as corporate fund managers who are DBS clients.
Customers in Australia and New Zealand can now purchase Coca-Cola from vending machines using bitcoins. Users of the Sylo Smart Wallet app will be able to pay for Coca-Cola Amatil goods with bitcoins thanks to a collaboration between Coca-Cola Amatil and digital assets platform called Centrapay.
ExpressVPN has been dedicated to protecting user privacy since 2014, which is why they have accepted Bitcoin payments for new account registrations. This system centralized on collecting and checking vast volumes of personal data and is used by other centralized, controlled payment providers.