It’s fair to say that Bitcoin has had a bit of a rough ride in the past few years. The press has run roughshod over its reputation for volatility. To you and me, that means it drops just as often as it spikes, and it also means that anyone looking for a safe, cuddly cryptocurrency might do better looking elsewhere. However, anyone brave enough to ride out the Bitcoin markets could actually make a tidy profit.
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What’s more, it seems there are some pretty big brands starting to look closely into accepting crypto for payments. The world seems to be moving forward in terms of global transactions. As such, plenty of smaller companies are starting to let people pay for goods and services with digital cash. There are, however, bigger brands out there which baulk at this idea thanks to shakiness in the law.
But it’s clear where we’re all heading. Can you see yourself paying for your Tesco shopping with Bitcoin? Maybe not right now, but it’s not an impossible idea. Here are four big companies we think could benefit from Bitcoin payments and why.
If you’ve seen the major changes McD’s have been making to their stores over the years, leaping to Bitcoin might not be too much of a stretch. In the US, Subway has already started accepting basic crypto for fancy sandwiches. As such, it might not be too long before we start paying Bitcoin for Big Macs. The same goes for other fast-food chains, too. The clue’s in the name – fast – so why wouldn’t someone as colossal as McDonald’s go ahead and get into crypto? It’s quick and easy to use, and the more burgers they can sell, the better.
Apple has plenty of its own innovations to worry about, which is likely why their stance on Bitcoin has always been a little mysterious. News from last year appeared to suggest that Tim Cook was up for setting up a form of e-currency eventually, however, that’s yet to materialise. That might be because we’re all waiting to see how Facebook’s Libra currency turns out. But why isn’t Apple accepting Bitcoin as payment for its various products and services? Microsoft, it seems, has been ahead of the pack on this for at least five or six years now. Should Apple follow suit, or do they no longer see Bill Gates as a threat?
Trivago is a holiday-booking behemoth which could really benefit from accepting Bitcoin sooner rather than later. People are getting more flexible in the ways they book their trips, journeys and hotel rooms. In fact, the company is probably already feeling the pressure, as it seems Expedia has already beaten the industry to the punch. Therefore, why aren’t more companies following suit? Expedia’s Bitcoin-friendly system means that people can just put money into an engine such as the Bitcoin profit platform, watch the markets, and then cash out to buy themselves a fancy holiday. Should Trivago follow suit? It’s not a bad idea. After all, we all seem to be moving more and more towards a digital future as far as currency is concerned.
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Okay – there have been no major moves from UK supermarkets thanks to the volatility factor but you only need to look at Australia’s Bitcoin acceptance to see how smooth a crypto operation could work in British shops. You can head into Australian grocery shops and pay with Bitcoin rather than fiat cash or a card. It seems a bit odd that you’re able to pay for your weekly apples and bananas this way. However, firms such as ASDA – which is part of the Walmart group – could learn a lot. If these chains have made big leaps into online commerce in recent years, why not go the whole way and start accepting Bitcoin and other crypto?
WHAT’S STOPPING BIG COMPANIES?
Volatility, plain and simple. Bitcoin is crypto which spikes high and dips low. This means that while the returns are good, you’re going to need to ride the waves. Many people who have made their fortunes through Bitcoin will tell you it’s worth holding on tight. But is that really enough for big firms to fall back on? Probably not. They will need more in terms of commercial and financial reassurance for the years to come. However, if big firms don’t act now, they risk missing out massively on a lucrative market. Keep your eyes peeled for developments.