In the last decade; or to be precise, in the last couple of years, the technology has advanced so much that now we are able to pay for our purchases with something as fresh as a digital coin. Yes! This is a great time when you can find many businesses all around the world who are accepting bitcoin or some other cryptos as one of their payment modes. Visit at: the-newsspy.app
Bitcoin is the hot topic of today’s time. It is in all the news feeds. We find something about it everyday on social media as well. Therefore, eventually we get curious about cryptocurrencies. In fact, investment in the cryptos can also be fruitful if you do it right. There are ways of investing your money in cryptocurrencies. Digital currencies are volatile in nature; however, if you can choose a great platform like the Bitcoin Era, the chance of winning increases.
How does it work?
Well, as you cannot print it, or have a physical copy of the money, you are bound to spend it online or digitally. It lies with the blockchain technology which further uses the encryption method to secure all the transactions. You cannot spend a coin twice and you cannot make a refund request once you spent a coin.
If you can count, you will find that around fifteen hundred businesses around all over the world are accepting bitcoin as a payment mode. You can use your crypto wallet to make a payment and it will take less time. Apart from that, you do not need to pay any third party charges while you make such transactions with bitcoin.
What is the payment acceptance process of the retail stores?
When the retailers are deciding to accept the payment with bitcoin, they must go for a crypto wallet in the first place. There must be a crypto wallet connected to the bank account and which is also registered with the personal information.
Once done, the retailer must accept the online payment system. Whenever a customer is willing to pay with bitcoin, they need to issue a unique address to them. Using which the retailer can receive the bitcoin and the customer can send it through his or her wallet. Once the customer make order for the payment by entering the digital wallet, then, the payment goes from the customer’s digital wallet to the retailer’s digital wallet.
Retailers that accept bitcoin
Here are some of the popular retail businesses, who are accepting crypto as payment:
Burger king
Burger king have many branches that has been showing their acceptance for cryptocurrency. One of their Venezuelan branches has announced that they will be taking crypto payments. They will take payments in Bitcoin, Tether, Ethereum, Dash, Litecoin.Â
Also, since September 2019, the German branch has been accepting payments in bitcoin only. They enabled the service in their mobile app as well.
Burger king has shown a great move in terms of accepting bitcoin or other cryptocurrencies.
HomeDepot
HomeDepot is the largest brand that caters all your hardware needs. This US based company has taken a huge step by accepting payments in bitcoin. However, they do not take direct payments with bitcoin. They take it through Flexa. The stores have been installed with Flexa’s checkout system.
Starbucks
An initial announcement says that Starbucks would be accepting bitcoin as one of their payment modes. Later, they announced that the news was false. It was highly disappointing to the customers and Starbucks fans. However, they again said that they will be starting to accept bitcoin but it will not happen until 2020. They were about to take the payments through Bakkt app and it was about to be launched in 2020. The app launched and Starbucks also started taking orders and payments with it.
newEgg
Newegg is the company using which the miners buy the hardware. They sell all the hardware needed for the mining activity. This large company is accepting bitcoin as one of their payment methods for their hardware products.
Wholefoods
It is the retail owned by Amazon. Wholefoods also accepts bitcoin through Flexa’s payment system. They first scan the wallet and complete the payment.
Here are some of the retail stores that accept bitcoin or some of the other cryptos as one of the payment methods.
