Since its beginnings, Bitcoin has been a source of contention, with some seeing it as the holy grail that will liberate humanity and others seeing it as a gigantic Ponzi scheme certain to fail.

Of course, the truth does not lie on either extreme of the spectrum. Cryptocurrencies, like any other form of payment, have advantages and disadvantages, and certain companies have decided to avoid them for the time being, while others are eager to accept them.

We examine the big businesses that have accepted Bitcoin and other cryptocurrencies as a form of payment, as well as how things have gone so far.

Microsoft

Back in 2014, the software behemoth was one of the first to accept Bitcoin as a form of payment for its apps, games, and software.

At the time, no one had heard of Bitcoin or cryptocurrencies in general, and hacking incidents were rocking the business.

Microsoft, on the other hand, chose to stay the course and keep Bitcoin payments alive, and they have undoubtedly profited handsomely from the rising value of the Bitcoin they received as payment for their products.

Tesla

Elon Musk, the millionaire inventor and entrepreneur, recently announced that his firm, Tesla, would begin taking Bitcoin payments for its products.

The concept was brilliant, and Bitcoin’s value skyrocketed almost instantly. However, Musk’s enthusiasm for cryptos was short-lived, as he concluded it was not in his best interests to promote Bitcoin.

The fact that Bitcoin requires enormous quantities of energy to mine is a major disadvantage for Tesla, as it goes against the company’s philosophy of environmental preservation.

Tesla withdrew its support for Bitcoin payments, which also meant that those who were holding to great amounts of the popular cryptocurrency lost a lot of money overnight, and were not happy with Musk.

iGaming Companies

As the popularity of cryptocurrencies grew, so did the number of online casinos that accepted cryptocurrency. These casinos enable users to deposit and play in Bitcoin and other cryptocurrencies such as Ethereum and Dogecoin.

Digital money is perfect for online gambling since it allows users to make deposits in a somewhat secret and private manner without having to utilise their banking information.

Cryptocurrencies also work effectively for gamers in places where big banks have partially or totally banned gaming deposits.

Cryptocurrencies are increasingly being used for iGaming due to its many useful characteristics, and a number of prominent iGaming businesses have integrated various crypto payment alternatives into their platforms.

Streaming Platforms

Streaming platforms are among the most enthusiastic proponents of crypto currencies because they make it so simple for customers to pay for subscriptions or send tips without having to go through the hassles of regular banking.

Twitch, a popular streaming network, has accepted crypto payments since 2014, which was groundbreaking at the time.

While Twitch did suspend crypto payemnts for a while, they are now once again available, and you can make Twitch payments using a number of cryptos including Bitcoin, XRP, PAX, and others.

For the users, making crypto payments at Twitch means they can do it without registering their credit cards with the platform, and the emerging online market makes it very easy and convenient for people to just shuffle their Bitcoin around and make the fastest possible cash payments.

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