If you look at Coinmap, there are bitcoin accepted spots almost all over the world with the largest concentration in the USA, Europe, and South-East Asia. Small shops and big stores, cafes and restaurants and overall service industry joined the usage of bitcoin. In addition, more and more online giant companies, like Microsoft, Wikipedia, WordPress, are becoming bitcoin-friendly. Bitcoin merchant list is growing every month so that the variety of services you can pay in bitcoin is increasing enormously in comparison to the last year despite the drop of bitcoin price since January, 2014.
Dell Among Bitcoin-Friendly Giant Merchants
Dell, one of the largest computer technology company, started to accept bitcoin in 2014 and recently widened its scale of bitcoin use to the UK and Canada. So it is claimed as one of the biggest bitcoin accepted business with the annual revenue of more than 56 billion dollars. Before Dell, the richest bitcoin merchant was Dish Network, American satellite service provider, with the annual revenue of nearly 14 billion dollars. In fact, by increasing the number of bitcoin-friendly countries Dell showed its growing trust in “the world’s most widely used digital currency”.
Merchants Open New Audiences With Bitcoin
Surely, the main reason of many bitcoin merchants to enable people to pay in bitcoin for their services is the additional market for profit they create. No matter whether it is widely known or not, the fact of offering an alternative way of digital payment creates the potential in making the new digital market more visible and profitable in future. Nowadays bitcoin merchant sees the digital currency as an investment that will bring money and development. For example, T-mobile Polandwhich introduced the possibility of bitcoin payment for prepaid cellphone credit,argued that their team was looking for the new opportunities and partnership making their customer experience easier and faster.
Moreover, bitcoin can work for the image of the company. Specifically, cryptocurrency still remains a mystery world for many people so that the bitcoin merchants can be seemed as innovators and pioneers of the new tech-savvy ways of payment.
Bitcoin Payment Processors for Crypto Accessing Merchants
According to Bitpay’s Infographics more than 100,000 merchants worldwide accept bitcoin now and these number will increase in 2015. Bitpay, one of the biggest bitcoin payments provider, maintains around 55% of merchants with their services. Bitpay as well as their rivalry Coinbase has increased their bitcoin merchant services over the past year and they continue to grow bitcoin “coverage”. According to Sonny Singh, chief commercial officer at BitPay, bitcoin merchant adoption as such is “pretty much done” and can be seemed as the first phase of bitcoin becoming mainstream.
“The second phase is exploring bitcoin’s use cases. For example, one area where companies could see huge benefits from bitcoin is in international payments. This could save them a lot of money”, – saidSonny Singh.
Broad Variety of Bitcoin Accepting Businesses
Bitcoin merchant services are provided in the various spheres. So whether you are going to buy new cloths, book a plane ticket or a hotel room, grab a cup of coffee or buy a present for your kid there is always a way and a place where you can pay in bitcoin. Bitcoin merchants list is growing all the time and today it includes such companies as Microsoft, Virgin Galactics, Wikipedia, WordPress, Overstosk, AirBaltic, Expedia, CheapAir.com, Mozilla and many more. And it’s only a top of the iceberg.
The Netherlands Remaining a Hub for Bitcoin
Bitcoin enthusiasts are in favor of increasing the number of bitcoin merchant services so that they have more places to spend their crypto money. Nowadays having bitcoin wallet enables you to pay for many services in local cafes or stores in many cities.
For example, Bitstraat and Bitkassa startups are quite active in increasing the number of bitcoin merchants in the Netherlands. The two top Dutch Bitcoin-friendly cities are Amsterdam and Arnhem where these startup activists are operating.
Bitcoin Making The Economy Borderless
“With bitcoin payments, there are no cross-border fees, making bitcoin especially suited to the needs of international buyers and sellers. As a merchant, why wouldn’t you want to accept money from anywhere on the planet? In 2015, bitcoin will continue to help the global economy become that much more borderless”, – said Paige Freeman, Vice President of Sales for BitPay and one of the top women in the Bitcoin community.
Following the idea of borderlessness and decentralization bitcoin payments have been introduced as possible donations. Greenpeace has already joined the club. Though there can be many pros and cons of bitcoin acceptation, the fact that the bitcoin merchants list is increasing indicates not only the interest, but also a huge potential of the cryptocurrencies in the contemporary business.