The Rise of Bitcoin as a Payment Method

by Allen Madzen
crypto marketing agency

Bitcoin used to be just for the few who know how it is mined, but with its rise to fame came its widespread adoption as a payment method. And it makes sense: as you convert your cash to Bitcoin and watch its value grow, you’d want to be paid in more Bitcoin so that, hopefully, when you convert it back to cash, it has earned more than its original worth.

Let’s take a look at some of the industries that already accept Bitcoin as a payment method:

bitocin as payment method

Auto industry

If you haven’t been catching up on your crypto news, you’d be surprised to know that Elon Musk has announced that Tesla will be accepting Bitcoin as payment for their vehicles. This is one of the biggest case studies mentioned by any crypto marketing agency worth their salt. Aside from that, the billionaire also announced that he will be buying $1.5B worth of Bitcoin!

Gaming industry

Before Musk, actually, Microsoft has already been accepting Bitcoin as payment for its games as early as 2014, making the company an early adopter of Bitcoin technology. Aside from games, you can also buy apps and digital content from Microsoft using Bitcoin.

Twitch also accepts Bitcoin, as well as Bitcoin cash and Ether. Twitch takes it one step further by also accepting other lesser-known cryptocurrencies.

Online retail

Ahead of Microsoft and Paypal (which accepted Bitcoin three months before the gaming platform), Overstock has already invested heavily in blockchain technology. In fact, it became the first major retailer to accept Bitcoin as a mode of payment.

Whole Foods, which is owned by Amazon, also accepts Bitcoin as a payment method, but Amazon itself does not. Some of the sellers on Etsy also accept Bitcoin as a mode of payment. Even the Japanese shopping site Rakuten also accepts the cryptocurrency.

Beverage industry

Starbucks allows you to add Bitcoin to your app, which you can then use to pay for your purchases. No, you cannot pay for your over-the-counter orders using Bitcoin directly!

Think Bitcoin is still obscure? Think again! It might be easier to trade in it than you think.

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