Companies that use bitcoin for payments
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We have seen some companies that embrace bitcoin as their default payment option, such as Overstock and Dell. Combined, they have saved millions of dollars by accepting bitcoin payments and sent a strong message to the marketplace that it is safe, secure, and easy to use:
Of course, any new technology comes with its own set of challenges. For example, every country has laws that define and regulate the type of activity people can do within their borders. As a result, foreign nationals who want to use bitcoin for financial reasons must take extra precautions to ensure compliance with local laws.
When accepting Bitcoin payments, it’s essential to ensure that your customers fully understand what they are doing. The IRS has warned that users who fail to report bitcoin gains or losses could be subject to penalties, so you must tell your customers about your policies on tax reporting. First, let’s discuss the companies that use bitcoin for payments.
Microsoft:
Microsoft has been an early adopter of bitcoin for payments, allowing customers to pay for their cloud-based applications and services in bitcoins since late 2014. They have also started accepting bitcoin donations on the Windows Store, which is a significant move forward in adoption.
The technology powerhouse has been a leader in developing innovative business solutions that people worldwide use. They have realized this and supported bitcoin as its currency by trying to make it easy to use.
Overstock:
One of the largest Utah retailers accepts bitcoins as payment on its website. As a result, overstock has grown to include over 2.3 million square feet of distribution space in its facilities, creating over 17,000 jobs. In addition to accepting Bitcoin payments on its websites, Overstock manages the shopping cart for free for any of its customers who want to accept Bitcoin as a payment method on its website. Overstock is one example of companies expanding bitcoin use beyond the “tech crowd” and into the mainstream economy.
Starbucks:
Starbucks has also begun accepting bitcoin, first in Seattle and then expanding to Chicago and New York. The company has been an early adopter of accepting bitcoin for online purchases, but this is a big step in the right direction. Starbucks is a major retailer that can hold its own with any of the large companies and still survive. Their experiment shows how a significant player like Starbucks can use bitcoin as its currency.
As technology advances rapidly, we will see more and more companies expand their reach into the bitcoin economy. Companies like Microsoft have been highly successful in marketing their products without being tied down by the rules of one particular jurisdiction or country.
Dell:
It is the largest IT and Computer company in the US. They announced the acceptance of bitcoin for online purchases in early January 2015. The company has been testing bitcoin for payments since 2013 and is eager to educate its customers about using both Bitcoin and their credit cards.
Dell is dedicated to providing its customers with the best products and services. If you are looking for an IT or Computer Company to use for your business or personal needs, experts would highly recommend Dell.
Tesla:
Tesla is a company dedicated to creating the future of electric vehicles. They have quickly recognized the benefits of bitcoin for its customers and promoted its brand by purchasing and promoting its computer hardware that runs on its cryptocurrency.
They are one of the first major companies to embrace bitcoin for payments, and they do it in a very public way. Moreover, they are doing this at a time when many other companies are starting to pay attention to this new payment method and adapting their payment strategies accordingly.
When you think about Tesla money, you probably think about a futuristic online currency that could transport us into the future. Well, recently, they bought and sold cars using bitcoins.
