Cryptocurrencies are often in the news these days. If it isn’t enough that the value of Bitcoin has risen to a new high of $60,000 (€50,500) for the first time, Elon Musk, the founder of Tesla, is spending billions in it. While purchasing and selling cryptocurrencies is becoming more common, the options to spend virtual currencies are restricted due to their volatility.
However, a growing number of businesses across a wide range of industries – from major tech to airlines – are embracing cryptocurrencies and allowing customers to pay for their goods and services with them. Here are some of the most well-known and well-known companies that use and accept cryptos.
Pavilion Hotels & Resorts is a chain of hotels and resorts in the United States
The Pavilion Hotels & Resorts group, based in Hong Kong, has become the first international hotel chain to accept cryptocurrency payments as the latest enterprise to do so. Through a partnership with payment provider Coindirect, the business, which owns properties in Amsterdam, Madrid, Lisbon, and Rome as well as Bali and Phuket, will accept bookings using 40 different currencies, including Bitcoin and Ethereum, beginning in July.
AXA Insurance
Customers in Switzerland will be able to pay their bills with Bitcoin starting in April, according to the insurance broker behemoth. Since the company’s market study in 2019, about a third of respondents aged 18 to 55 had either previously invested in cryptocurrencies or were interested in doing so, the decision to embrace them has been in the works. Customers will now be able to pay their non-life insurance premiums using a reference number printed on their bills, which will be converted into Swiss Francs via the crypto exchange Bitcoin Suisse.
Microsoft
Microsoft’s acceptance of Bitcoin payments, as one of the world’s leading software businesses, is crucial in terms of instilling trust in the use of cryptos. Bitcoin, which can be redeemed for credit and used to top up user accounts, can be used to pay for a variety of services, including Xbox Live and Skype.
The company’s interest in cryptography isn’t limited to that. In late March, Microsoft introduced ION, a two-layered authentication technology based on blockchain, on the Bitcoin network. Instead of accepting cash, the system generates digital IDs that may be used to verify online identities.
Tesla
Elon Musk, the CEO of electric manufacturer Tesla, has had a rocky relationship with Bitcoin. Earlier this year, the firm announced that it will accept Bitcoin payments for automobile purchases in the United States. It follows Elon Musk’s company’s $1.5 billion (€1.2 billion) investment in the cryptocurrency in February. This has now been turned on its head, with Tesla announcing that Bitcoin transactions will be halted until more than 50% of tokens are mined using renewable energy.
Amazon
Amazon was rumoured earlier this year to be joining the ranks of other internet behemoths, such as Facebook, in laying the basis for its own proprietary cryptocurrency. However, the e-commerce company does not take cryptos directly at this time. You may, however, purchase Amazon vouchers through Bitrefill, a crypto-only startup that makes living on cryptocurrency easier by converting Bitcoin into gift cards, phone refills, and other items.