Introduction
According to Wikipedia, Bitcoin is a digital currency that is decentralized in nature and can be transferred on peered Bitcoin networks through cryptography and recorded in a blockchain. The Bitcoin has sub-units of millibitcoin, microbitcoin, and satoshi all in the value of 1/1000, 1/100 000, 1/1000 000 000. It was invented anonymously in 2009 by a cover name, Satoshi Nakamoto, and has quickly become the world’s most traded value (for only countries that give passage routes to its users).The Bitcoin is a digital currency,this article is will give the information of the 10 major companies that accept Bitcoin.
The usage of Bitcoin as an online digital currency is affected both near and far with a high rate of monetary value on the dollar clouding the economy. The following are the 10 companies that accept Bitcoin.
The 10 major companies that accept Bitcoin
1.Microsoft
2.PayPal
3.Overstock
4.Whole foods
5.Etsy
6.Starbucks
7.Newegg
8.Home depot
9.Rakuten
10.Twitch
The Companies that accept bitcoin
1.Microsoft:
This Company adopted the use of the currency in 2014 as a means of payment for games, software applications, windows phones, and Xbox. They are one of the early companies that accepted Bitcoin, the digital currency as a means of payment for financial transactions. This was profitable to the company back then, because Bitcoin trading had not populated. Even those who knew of it thought it otherwise. It was a result of Mt. Gox collapsing as a result of the loss incurred from Bitcoin trading after loads of frauds, fraudulent payments, hacks, and other issues.
2.PayPal
This Company got Bitcoin before the Microsoft Company purchase, while the latter became a user of digital trading in December 2014, PayPal started a transaction in September 2014. The trading used was XBT before the name renewal to BTC.
3.Overstock
The Company got shot out and purchased the usage of digital currency.
4.Whole foods
The digital company owned by the Facebook-famous Winklevoss twins also joined hands in the transaction of the digital currency, Bitcoin which gave a rise to the currency. This helped in the conversion of Bitcoin to the dollar for seamless purchases which can be termed a revolution time for Bitcoin and its trading.
5.Starbucks
Although this company has no definite fixation with Bitcoin and trades in Cryptocurrency instead. The digital currency can be added alongside gift card balances, frequent flyer miles, and perform transactions to Starbuck. This method is also employed by Etsy. There is a provision of a software system application, Bakkt that converts Bitcoin to instant dollars.
6.Newegg
This is an online currency that also accepts the transaction of Bitcoin. The usage of Bitcoin in this company provides room for some uniqueness in the sense that you can pay with Bitcoin without bothering about the conversion. It allows you to make direct purchases with your phone at any location with the Bitcoin transaction.
7.Home Depot
The Company uses the Flexa system which is quite similar to the system adopted by the “Whole Food” company. The Bitcoin is accepted through the company’s digital scanner and can be used without any hardware investments. The buyers can spend the digital currency to purchase paint and Ryobi tools while Home Depot keeps the green dollars in exchange (the balance sheets submitted by buyers in dollars)
8.Rakuten
The Company adopted Bitcoin as a means of payment in 2015. Bitcoin helps in the expansion of the company. The company made it possible to transact in any of its locations in its marketplace.
9.Twitch
The Company is Amazon-owned and it deals with not just Bitcoin but other currencies. It receives payments in Bitcoin.
10.Coinbase
This Company also gives room for the usage of Bitcoin. It is because it is a trading platform for the digital currency
Countries where the transactions of Bitcoin are allowed
The following are countries where the transaction and usage of the digital currency, Bitcoin are legalized. The countries include:
- The United States of America
- Germany
- The European Union
- Canada
- Australia
- El Salvador
- Denmark
- France
- Iceland
- Japan
- Mexico
- Spain
- The United Kingdom
While the transaction of the digital currency is accredited in these countries, it is strictly banned in some other countries not excluding China and Egypt.
Advantages of Bitcoin trading
There are advantages that the trading of Bitcoin brings even in the payment of products and services. They include:
1.Information Translucency
For every transaction, the clarity of information is needed because it aids assurance and re-assurance of people especially when it comes to money transfers. This boils down to the reason that the information has to be clear for conviction while their personal information remains private, and this is what Bitcoin offers.
2.Uplift the monetary restrictions
Bitcoin gives an allowance of a freedom payment. This can be simplified to mean that you can pay in any amount you want with Bitcoin without any restrictions whatsoever with a validated list of payment methods.
3.Security
Bitcoin assures security and control in monetary transactions. Not only can you be in control of your transactions but you can also be secured because it is less risky.
4.Limited Taxation fees
When trading Bitcoin, there are little or no fees for taxation.
Conclusion
Bitcoin is a digital currency that is decentralized and can be transferred on peered Bitcoin networks through cryptography and recorded in a blockchain. Transactions in Bitcoin are faster, safer, quicker, and give you authority over your monetary values.
FAQ
- Is Bitcoin available in all countries?
No, digital currency is not available in all countries because of the restrictions placed on digital currency.
- Does Bitcoin give room for limited taxation?
Yes, there are little or no taxation fees for Bitcoin (digital currency).
