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Bitcoin is slowly changing the way we pay for goods and services. The digital currency is gaining tremendous recognition among businesses of all sizes and shapes.
Bitcoin is slowly changing the way we pay for goods and services. The digital currency is gaining tremendous recognition among businesses of all sizes and shapes. Bitcoin is currently the world's most popular cryptocurrency, and it's safe to say that it may threaten to change the overall status of the global monetary system sometime in the future.
In this extraordinary world of the World Wide Web, "never say never" has become many people's mantra. Can Bitcoin go beyond PayPal? Will it dominate the way we send and receive money? All of this remains to be seen but until that happens, here are some more businesses accepting Bitcoin.
Local Subway franchise in Buenos Aires, Argentina, starts trading sandwiches for bitcoins. The owner owns two locations and he recently decided to make them cryptocurrency-friendly. Young entrepreneur Fernando started the business back in 2012, and became interested in digital currency at a Bitcoin Conference in December 2013. He says:
“That Saturday, I was the only one with a shop open [on Reconquista 934] in front of the hotel where the Bitcoin conference was being held. All of a sudden, I had a bunch of kids talking to me about it. It really grabbed my attention, because I thought it was something a lot more isolated.”
- Fernando, the owner of the local Subway
Fernando still has to train employees and configure an account, and he mentioned that he's not looking to invest in Bitcoin just yet. At the moment, he wants the digital currency to function solely as a payment mode.
Australian bike shop, Urban Velocity, is excited to incorporate Bitcoin as a payment mode. The company prides itself for having an extremely varied and unique selection of mountain bikes and urban cycling gear. Independently operated and owned, Urban Velocity is committed to offering high-quality merchandise that competitively priced, functional, and stylish. They recently mentioned that their website is accepting Bitcoin. According to a Reddit post, the bike shop's owner was convinced by a friend to start accepting Bitcoin:
"Hi all, I've been into Bitcoin for a few months and I've convinced my buddy to start accepting Bitcoin at his bike shop. He is now stocking original 80's retro BMX bikes too! He is on Coinmap.org. Check out his shop if you want to spend some bitcoins, his bikes are awesome. Thanks. :)"
Global online payment platform Payza has just started accepting Bitcoin withdrawals, and transaction fees are incredibly low - 2%. The company specializes in corporate disbursements, e-commerce processing, and remittance for businesses and individuals worldwide. The e-wallet platform offers members flexible and convenient withdrawal and loading options such as global bank wires, localized bank transfers, prepaid cards, credit/debit card checks, and numerous other services.
With more than 9 million members, Payza operates in 21 different currencies and 197 countries, and it proud to supply merchants around the world with complete payment and managing solutions. Payza provides foreign exchange services, email invoicing, fraud screening services, and business management tools. In addition, it endows emerging markets with convenient and affordable ways to accept international payments, thus strengthening local economies.
As of August, Payza welcomes customers to make withdrawals in Bitcoin. Due to the nature of the digital currency, transactions can't be canceled or reversed. To set up a withdrawal, users should follow these steps:
Note that a user's account must be verified prior to making a withdrawal by Bitcoin.
Oral hygiene company Hermetic Seal Compounds has recently announced that they're accepting payments by Bitcoin. Their first product is a type of tooth powder produced entirely from certified organic material that dates back to the ancient Greeks and Egyptians.
What's interesting about this company is that cryptocurrency is their ONLY payment mode and they believe that:
"supporting traditional banking systems who actively engage in censorship is counter-intuitive. Bitcoin and digital currencies like it (sic) allows money to flow as freely as information."
Hermetic Seal Compounds doesn't just accept Bitcoin. They're extremely fond of the digital currency trend, so they've decided to accept all kinds of cryptocurrencies. Bitcoin payment are processed by Coinbase.
A trendy clothing store, Stark Street Clothing, recently started to accept payments by Bitcoin. The company is all about Mens' fashion, and after several years of working with several mainstream brands, Stark Street Clothing decided to takes things to the next level and give a "sense of bold" to their product line. To stand out and get an early-adopters’ advantage, Stark Street Clothing lets customers pay in Bitcoin while offering free shipping in the US and delivering products within 48 hours. International shipping costs US$10.
Shipito, a wildly popular mail forwarding company founded in 2007, is looking into the possibility of accepting Bitcoin as payment mode. The business has a lot of happy users and although they don't support Bitcoin just yet, the CEO mentioned that he would do it manually until the demand grows to automate it.
There's an interesting topic on the Shipito forum entitled "Bitcoin as a funding option." One user mentions that bank fees for transferring funds to Shipito are 4.3%, which is too much. With Bitcoin, these fees would be close to zero for wallet-to-wallet transfers, and as little as 0.99% for customers using payment processors like BitPay. The user who wanted to know if Shipito would consider Bitcoin as a funding option got a pretty straight answer:
"We will look into this as a possible payment method. I cannot really promise anything, but I can make the suggestion. Anyone else use Bitcoin? Would be nice to hear others voice there opinions of Bitcoin as I am unfamiliar with them."
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