Which Businesses Accept Cryptocurrencies and Will Others Follow?

Some cryptocurrencies could be particularly beneficial to businesses in helping to revolutionise the way they handle payments. As well as stay engaged with the growing number of crypto enthusiasts that want to pay for goods and services with crypto.

If you believe that cryptocurrencies will play a significant role in the global economy of the future then as a business it would make sense to become an early adopter and start accepting crypto payments. Speaking to Time, futurist Thomas Frey predicted: “Cryptocurrencies are going to displace roughly 25% of national currencies by 2030.”

Here are just some of the many global businesses are already supporting cryptocurrency payments:

  • Microsoft: users can buy content on Xbox and Windows stores using Bitcoin.
  • Virgin Galactic: this Virgin Group company is accepting Bitcoin for space travel. A ticket to space will cost you $250,000 or 37 Bitcoins – at a rate of $6756/BTC.
  • Save the Children: the world’s leading children’s charity now accept donations via Bitcoin.
  • OkCupid: this dating site will allow users to access extra functions via a Bitcoin payment.
  • Wikipedia: this free encyclopedia is accepting donations via digital currencies.
  • Tesla: someone has already ordered a Tesla Model S using Bitcoin via Shakepay.
  • Lionsgate Films: the production studios are using a payment method via Gocoin.
  • Cheapair: Accepts payments for flights via Bitcoin.

Should your business accept cryptocurrency?

From a business perspective there are many reasons your business might want to consider accepting cryptocurrencies, including:

  • It will save you money: you will avoid credit and debit card fees.
  • Transaction processes are quick: payments can happen fast and without banking delays.
  • Cryptocurrency is international: avoid foreign transaction fees or exchange rates when purchasing from abroad. Also it will help you invest in security-enhanced paperwork, for example.
  • They are growing: cryptocurrencies have been growing steadily and this is only expected to continue. Adopt it early and when it becomes mainstream you will be ahead of the game.

When will more businesses start accepting cryptocurrencies?

There is a good chance that more and more businesses will slowly begin to accept cryptocurrency – the question is, when?  There are a few factors that are currently holding people back – and it’s only once these are addressed that we will start to see greater use of cryptocurrencies:

  • When people have a better understanding off cryptocurrencies – no one wants to invest in something they don’t fully understand. When this becomes more mainstream businesses might start accepting it. Fear or reluctance comes, to an extent, from a lack of understanding.
  • There are a lot of scams in the cryptocurrency space and custodial services are not that user friendly, however, custodial solutions are coming from the likes of Coinbase
  • Countries are introducing legislation and businesses will no doubt want to wait and see what these laws and regulations will mean.
  • The price is currently very volatile – this makes it hard for users to hedge their risks, however, with the growing number of stablecoin options this may no longer be a significant problem.

While some businesses have already started and subsequently stopped using the currency due to its volatility, many still believe it is the way forward.

There’s definitely an appetite to embrace cryptocurrencies and businesses have to move with the times to cater for customers in the most appropriate way. If the above challenges can be overcome in the next couple of years then we can expect crypto users to be able to spend their cryptos on everyday goods and services.

Opera Expands '30-Second' Cryptocurrency Wallet Top-Ups to Europe and Other Countries

Michael LaVere
  • Freeware web browser Opera has announced major updates for its built-in crypto wallets. 
  • Opera is partnering with Wyre to offer direct crypto purchases through the browser wallet. 

Popular pro-cryptocurrency web browser Opera has announced major updates for its blockchain-based browser on Android systems, including expanding . 

Opera, the world’s first Web 3 ready browser and the first to introduce built-in crypto wallets across mobile and computer devices, has announced major updates for the Android version of its browser. According to a press release shared with CryptoGlobe, the Norwegian-based company is adding several new features, including an expansion to the entire EU, Australia, New Zealand, Mexico and Switzerland of seamless wallet top ups, allowing users to buy cryptocurrency directly from the built-in wallet. The feature was already available for U.S.-based users.

Opera is giving users access to cloudless, decentralized web networks through IPFS-protocol support, which the company claims will change the way data is accessed online. The web browser is also allowing users to register .crypto domain names and wallet addresses to easily send and receive cryptocurrency, via a partnership with Unstoppable domains.

According to the press release, Opera is partnering with U.S. cryptocurrency-brokerage Wyre to enable easy cryptoasset purchases directly through the browser’s built-in wallet. Using a Visa or Mastercard debit card, users will be able to buy BTC or ETH directly from their wallets.

Charles hame, Head of Crypto at Opera Browsers, explained, 

Being able to acquire cryptocurrencies without having to go through an exchange, directly from the wallet makes the process easy for our users. Expanding this feature to more regions is key to driving blockchain-adoption.

Opera currently has more than 360 million users worldwide. the press release touts its monthly active user base increased by over 40% in the last half of 2019 year-over-year.

Featured Image Courtesy of Opera.