Paying with Bitcoin: These are the major companies that accept crypto as payment

In this article we are going to see about Paying with Bitcoin: These are the major companies that accept crypto as payment...

Cryptocurrency Payments Are Being Accepted in India by These Companies Despite the ambiguity around cryptocurrency regulations in India, virtual currencies are fast gaining popularity in the country as a form of payment. o say that the average man's interest in cryptocurrency is growing by the day would be an understatement. This holds true even for countries like India, where cryptocurrency trade is yet to be regulated. The confidence in the capabilities of cryptocurrencies among traders was emboldened by the Supreme Court decision taken last year to reverse a Reserve Bank of India (RBI) order, thereby allowing trade in cryptocurrency assets. Further proof of India warming up to the idea of cryptocurrency lies in the fact that several companies have begun to accept it as a recognised mode of transaction. From the food and beverages industry to home decor, cryptocurrencies like Bitcoin and Ethereum have crept into mainstream transactions, albeit in a small way.

If you are a cryptocurrency investor in India, here is a list of companies that can help you spend your currency.

Suryawanshi Restaurants

Imagine finishing off a sumptuous Kolhapuri thali only to find that you have forgotten to carry your cash or card. Well, if you are a Bitcoin investor, you will have no problem paying the bill at the Suryawanshi restaurants in Bengaluru's Indiranagar and Whitefield. Along with traditional payment modes such as cash, card, and payment apps, Bitcoin is accepted at the eatery. Bitcoin price in India stood at Rs. 34.74 lakhs as of 5:30pm IST on August 10.

Unocoin

You may have warmed up to the idea of cryptocurrency, but if your friends and family still swear by the traditional modes of payment, Cryptocurrency exchange Unocoin is the place for you. The company is now providing Bitcoin owners with an option of buying gift vouchers from a list of 90 brands. Starting from Rs. 100 to Rs. 5,000, a registered Unocoin user can use Bitcoin to buy vouchers for travel, restaurants, lifestyle, clothing, accessories, hotels, and more. All you have to do is be a KYC-verified customer with Bitcoin in your digital wallet.

HighKart

HighKart, an online e-commerce store founded in 2013, also accepts Bitcoin payments for the purchase of products on its site. The platform allows you to purchase mobiles, cameras, clothes, electronics, computers, and other electronic items.

Sapna

From books to personal hygiene goods, Sapna is an online platform that allows you to buy items using Bitcoins, enabled by the Unocoin cryptocurrency exchange. The platform allows you to buy products from any part of India and have them shipped to your doorstep.

Bitrefill

Bitrefill is a platform that claims to “allow anyone to live on cryptocurrency more easily.” And the several Indian companies featured on the platform point to the fact that as a cryptocurrency owner, your options have opened up. Fancy a coffee? Well, you can use your Bitcoin to buy a gift voucher for a drink at Café Coffee Day. With companies like cosmetics brand Nykaa and jewellery brand Tanishq allowing you to purchase gift cards for their products, the platform can be a one-stop shop for all your needs. The website says that the cryptocurrencies like Bitcoin, Dash, Dogecoin, Ethereum, and Tether are accepted.

Purse

As an online store that sells electronic goods, Purse accepts Bitcoin cash. In addition to payment, the platform also allows you to convert Bitcoin into gift cards.

The Rug Republic

The Rug Republic is a Delhi-based decor brand that accepts not just Bitcoin but the top 20 cryptocurrencies as per market capitalization for its products. Though the brand is leaning on platforms like WazirX and Binance to facilitate transactions, it says it is looking forward to developing an in-house payment system.

Pavilion Hotels & Resorts 

As the latest company to permit crypto transactions, the Hong Kong-based Pavilion Hotels & Resorts group has also become the first international hotel chain to embrace virtual currency payments. The group - which owns properties in Amsterdam, Madrid, Lisbon, and Rome as well as Bali and Phuket - will accept bookings using 40 different tokens, including Bitcoin and Ethereum from July through their partnership with payment platform Coindirect.

AXA Insurance

 As of the start of April, the insurance broker behemoth will allow customers in Switzerland to use Bitcoin as a payment option for their bills. The decision to embrace cryptocurrencies has been in the pipeline since market research conducted by the company in 2019 found that nearly a third of respondents aged 18 to 55 had either already invested in them or were interested in doing so. 

Customers will now have a reference code printed on bills for non-life insurance policies in order to pay their premiums through crypto exchange Bitcoin Suisse which will then convert them into Swiss Francs.

Microsoft 

As one of the largest software companies in the world, it is significant that Microsoft accepts Bitcoin payments, going some way to instill a degree of confidence in using cryptos. Redeemed for credit in topping up user accounts, Bitcoin can be used to pay for an array of services, including Xbox Live and Skype.

The company’s interest in crypto technology doesn’t end there. Utilising blockchain, Microsoft has also launched ION, a two-layered authentication platform on the Bitcoin network in late March. Instead of payments, the technology creates digital IDs to authenticate online identities.

Starbucks

 Following an extensive trial, Starbucks customers can now use the new Bakkt app to pay for drinks and goods at the coffee chain with converted Bitcoin. According to the app’s creators, 500,000 people took up the invitation-only, early access programme to test the digital wallet as a method of payment.

Tesla

 The CEO of electric carmaker Tesla Elon Musk has an up and down relationship with Bitcoin. Initially, the company announced earlier this year that it would accept Bitcoin payments for vehicle purchases in the US. It comes off the back of a $1.5 billion (€1.2 billion) investment in the cryptocurrency by Elon Musk’s company in February. However, this has now been turned on its head with pronouncements that Tesla will put Bitcoin transactions on hold until more than 50 per cent of tokens are mined using renewable energy.

Amazon 

It was reported earlier this year that Amazon was joining the ranks of other tech giants, including Facebook, in laying the groundwork for its own exclusive cryptocurrency. That said, the e-commerce company doesn’t directly accept cryptos yet. You can, however, buy Amazon vouchers through crypto-only company Bitrefill, a platform that makes living on cryptocurrencies easier by converting Bitcoin into gift cards, refill phones, and so on.

Visa

 Credit card company Visa confirmed at the end of March that it was piloting a scheme with platform Crypto.com to accept cryptocurrency to settle transactions on its payment network. It will now accept USD Coin (USDC), a stablecoin crypto that is pegged to the value of the US dollar.

 PayPal

 Following an announcement in October last year, PayPal users in the US can now buy, sell or hold a select few cryptos, including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. In addition, you’ll be able to track cryptocurrencies through the PayPal app. The only drawback is that money can’t be transferred out of the company’s digital wallet.

In August, the company announced that users in the UK can now also trade in Ether, Litecoin and Bitcoin Cash on PayPal's website and mobile app.

airBaltic 

Latvian airline airBaltic became the first aviation company in the world to accept Bitcoin as payment for fares back in 2014. According to the company, it has processed more than 1,000 Bitcoin transactions since it launched the payment option seven years ago. Its decision to do so saw another eastern European airline, LOT Polish Airlines, follow suit the following year.

Sotheby's

 Renowned auction house Sotheby's first began accepting cryptocurrency as payment in late June and has since firmly embraced both cryptos and NFTs.

Since it announced it now accepted cryptos, it accepted Bitcoin as payment for a rare 101 carrat diamond which sold in July for $12.3 million (€10.4 million). It became the most valuable item ever bought with cryptocurrency at an auction.

Where lots are listed as "cryptocurrency payments," the auction house will accept both Bitcoin and Ether as payment. There are certain restrictions, however, as payments will only be accepted through certain approved exchange wallets, including Coinbase.

Coca Cola 

Amatil, the drinks’ giant’s bottler and distributor in the Asia-Pacific region, has enabled cryptocurrency as a method of payment through its partnership with the Centrapay platform. As of 2020, there are now over 2,000 vending machines in Australia and New Zealand which are geared to accept cryptos to pay for drinks.

LOT Polish Airlines

 Following in the wake of airBaltic, LOT Polish Airlines announced in 2015 that it would also accept Bitcoin as a payment method for flights. Despite the six years that have passed since its decision, LOT remains one of the only European airlines to allow cryptocurrency as a payment option.

Expedia 

Travel giant Expedia is one of the most prominent travel agencies to accept Bitcoin through its partnership with crypto-friendly travel booking platform Travala. You can now book 700,000 hotels from the website’s listings with more than 30 different cryptos, including Bitcoin.

Lush

 Lush was one of the first global companies to adapt to the use of cryptocurrencies, fully embracing them in 2017 when the handmade cosmetics company started to allow Bitcoin payments for orders on its website through a partnership with Bitpay.com.