From Microsoft to AT&T to Home Depot, more companies are accepting cryptocurrency as a way to pay for products and services. This makes perfect sense as crypto coins are a viable revenue source. Perhaps the time is ripe for businesses to learn how to receive, process and convert crypto payments into fiat currency.
Still, many questions remain. How can you safely enable customers to pay with Bitcoin or other digital currency? What are the security risks that come with cryptocurrency? Let’s find out.
Who Accepts Payment in Bitcoin?
Some of the biggest brands on earth (Microsoft, PayPal, Mastercard, Starbucks, AT&T and Amazon) now accept cryptocurrency as payment. Also, up to a third of small businesses accept payment in Bitcoin. Now, you can’t go up to the counter at Starbucks and pay for your latte in crypto. But you can link the Bakkt crypto application to your Starbucks app and pay from there.
Meanwhile, Microsoft lets you redeem Bitcoin to fund your account balance to make purchases online.
How to Accept Payment in Bitcoin
There are two ways to accept cryptocurrency, and each method has its own security risks. Crypto wallets are like real-world wallets. That is, they are a place to privately store your cash. Cryptocurrency exchanges or payment gateways are third-party platforms that enable crypto transactions. Let’s look at each one, crypto wallets an ..
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