Bitcoin Adoption In Top Companies - Essay Example

Anyone who is related to the Bitcoin market is repeatedly asked about the adoption of the digital currency.

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All the major companies around the world are growing to like and adopt Bitcoin as a fast, easy and cheap payment system.

There are many reasons to choose the digital currency over other alternatives. Bitcoin adoption simply offers better privacy protection compared to credit cards, and it also makes purchases and sales much easier than trade traditionally is.

Numerous reasons govern and change user’s attitude towards the digital currency but the main idea is that Bitcoin transactions take much less time and money to process.

Potential consumers are overwhelmed by the minor local transaction fees and lack of foreign transaction fees. They are also very interested in the rapidity of the payment system.

These are why numerous companies around the globe are accepting Bitcoin as a payment system today.

This change has even influenced companies which were previously of the brick-and-mortar variety.

Below, a list of the top 10 companies which already accept Bitcoin.

The leading merchants and organisations that accept Bitcoin are:

WordPress.com
This very popular website claims to be the best place for personal blogs and business sites. It is handled by the WordPress software developers and the free blogs offer custom design templates, automatic spam protection and integrated statistics. The company decided to start accepting Bitcoin in November of 2012.

Dell
Dell is the 3rd largest PC seller globally and has annual revenue of near $57bn. Through a partnership with coinbase, they have recently started accepting Bitcoins as an online payment method. It adds flexibility and ease to the customer’s payment process. It also reduces processing costs.

Expedia
Expedia is a travel booking giant. They think adding Bitcoin as a choice in the payment options, with PayPal and Visa, gave customers a way to interact flexibly. By accepting Bitcoins for hotel reservations, they have become the first big travel agency who embraced Bitcoin adoption.

Overstock
Overstock.com accepts payments in Bitcoin. It is the first major online retailer in US to take payments in the increasingly popular crypto currency. Last week, Overstock expanded bitcoin payment to international customers.

Newegg
Newegg Inc. is a leading online retailer with more than 10.5 million products up for sale. They went through Bitcoin adoption and now Bitcoin appears as a payment method when customers check out.

Braintree
PayPal owned company, Braintree has partnered with coinbase to enable payments with the crypto currency. The payment system will convert the Bitcoin into fiat at market prices, eliminating the risk for merchants.

Wikimedia

Wikimedia is an international movement with the mission to offer free educational content to the world. Their Bitcoin adoption now enables donations in Bitcoins.

The Pirate Bay
Known for being a large BitTorrent directory, The Pirate Bay offers a platform for users to download software, movies and music. The popular torrent site started Bitcoin adoption in April of 2013.

Reddit
Reddit is among the most popular social news and entertainment websites. The site focuses on news links produced by the users. It has a dedicated voting system that helps promote the top stories to the website’s front page. Reddit began accepting Bitcoin for the acquisitions of reddit gold in February 2013.

The Internet Archive
This non-profit organization which was established to provide a permanent digital library to users by preserving websites. The Wayback Machine also offers links to previous versions of different webpages. The Internet Archive began Bitcoin adoption in February 2013 to accept Bitcoin donations. It is used to pay some employees too.