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Cryptocurrencies were born to facilitate digital payments. E-commerce increasingly believes in them and seems to be aiming to adopt cryptocurrencies. Blockchain technology is revolutionizing the way we all pay and transfer money.
according to bit paymore than 100,000 merchants worldwide accept cryptocurrencies.
In this article, we will discuss various aspects of crypto payments, delve into the benefits of using crypto as a payment method, and take a look at the most popular companies that have already adopted this.
2022 will be a revolutionary year for the crypto payments industry, making it clear that crypto payments are not the future, they are already there.
Advantages of using crypto as a payment method
A distributed ledger has it all blockchainBase payments (thus obtained through the most popular form of cryptocurrency).
Therefore, this means that all financial transactions made between two different accounts (public addresses or wallets) are recorded in a ledger, each transaction is sent to the blockchain network, and only the validity of the transaction is confirmed. means
A transaction only needs to go through two simple steps to be considered as such by the blockchain.
- Authorization: The user (consumer) is responsible for authorizing the payment. This makes the consumer responsible for: Set the correct amount, provide the correct address, authorize the payment, and send it to the network.
- Confirmation: Consumers have to pay a certain amount of fees and wait for the validity period of the transaction.
The benefits that cryptocurrencies offer are far superior to the traditional payments we are used to. Funds can be transferred anywhere in the world in minutes with complete security.
As far as transaction fees are concerned, we are talking about fees that are significantly lower than regular payment methods (usually the fees do not exceed $5, even for transactions of thousands of dollars).
trading via cipher, so the blockchain cannot be canceled. This eliminates the risk of chargebacks and makes anyone who adopts this method completely safe.
Given the number of countries that have so far allowed purchases with cryptocurrencies, interest in cryptocurrencies has been steadily growing, resulting in websites and websites offering people the ability to pay with cryptocurrencies. services are increasing.
in Europe, Switzerland is the top country in allowing people to use BTC for business and tax purposes. The United States of America is the country that allows the most cryptocurrency payments. Brazil, Mexico, Argentina, Japan, El Salvadorand many others.
Which are the most popular companies accepting crypto payments?
Although not fully regulated in many countries, cryptocurrency payments are an evolving phenomenon in many countries. As such, many companies and multinational corporations have innovated enough to push cryptocurrency payments.
Here are the most popular brands and services that accept crypto as a payment method:
master Card
October 2022 at the earliest, master Card We have made great strides in the blockchain world.From the first launch NFTs A credit card that aims to make cryptocurrency payments easier.
Then, with the launch of Crypto Secure, a technology solution aimed at enhancing the security of digital economic transactions by combining CipherTrace technology with proprietary information to support issuers and keep them abreast of the changing regulatory environment for digital assets. make it responsive.
Amazon
The online shopping giant is working hard to include crypto directly into e-commerce as a payment method, and has hired several blockchain experts for this big step.
In the meantime, cryptocurrencies Amazon Vouchers or Amazon Coins are also virtual currencies, but they do not use blockchain. Let’s hope for faster future solutions for crypto buying.
lush
Rush is betting on virtual strategies. A British cosmetics company has started accepting payments in Bitcoin at its stores across channels. is. The move brings the ethical brand of fresh, handmade cosmetics closer to an audience of crypto enthusiasts who promote digital currencies that use cryptography to secure their transactions.
Starbucks
over a year ago, Starbucks Representative Director and President Kevin Johnson The coffee giant has announced it is deepening its digital relationship through a payments partnership with PayPal and Buckt.
The partnership will allow customers to add a variety of virtual currencies to their Starbucks Card. Bitcoin, ethereum Converting digital currency to physical currency, such as
He also uses blockchain technology to improve digital services, allowing customers to exchange value across brands, engage in more personalized experiences, and redeem more loyalty points with Starbucks stars. We also talked about making it possible.
coca cola
With over 2,000 vending machines in Australia and New Zealand, customers coca cola in bitcoin. Asia-Pacific bottling giant Coca-Cola Amatil has partnered with digital asset platform Centrapay to integrate Bitcoin as a payment option from vending machines in Australia and New Zealand.
This means that over 2,000 smart vending machines now accept cryptocurrencies.
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