Ethereum Who Accepts

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Uses of Cryptocurrencies:

2 days ago  Ethereum Transaction Fee Reduction. EIP-1559 is a fee market change for the current ETH 1.0 blockchain.More specifically, it introduces a transaction pricing mechanism that “includes fixed-per-block network fee that is burned and dynamically expands/contracts block sizes to. Ethereum is the world's second-largest cryptocurrency with a market capitalization of $140bn. It's not surprising that so many stores and service providers accept Ethereum as a payment option together with Bitcoin payment.Here are the main categories of businesses where you can pay with ETH.

Before we begin with the chapter, let us give a thought to this question for a minute: Money is basically a piece of paper or metal. It can have a price assigned to it, but what gives it ‘value’?

Which Companies Accept Ethereum

No such rule applies to cryptocurrencies. It is still an emerging technology. At this early stage, the price of cryptocurrencies fluctuates. Bitcoins have the highest price because they have the highest value because of a massive use case. If all seven Billion inhabitants of the earth were to make use Bitcoins for payments, the price would become stable eventually. However, let us not get into price fluctuations (which you can read in detail here)

The point is, cryptocurrencies are successful because there’s a use case. With time, more and more traders have begun to accept cryptocurrency payments. Let us take a look at the uses of cryptocurrencies and the list of traders which accept the two most popular cryptocurrencies at the time of this writing: Bitcoin and Ethereum.

Why Should You Use Cryptocurrencies?

Quick and Instant Payments:

One of the biggest advantages of using cryptocurrencies is the speed of transfer. When making payments via bank, it can take a couple of days, especially if you’re doing so on the weekend, as banks in most countries remain shut on weekends. The payments are quick and can be instantly liquidated by selling it off to a Bitcoin exchange.

No Risk of Fraud:

Another characteristic feature of cryptocurrencies, especially Bitcoins is that they cannot be counterfeited. Hence there is no risk of fraud. Moreover, unlike payments made via cards or banks, there is no risk of a chargeback or a reversal. Payment once made is made forever and cannot be reversed. This ensures that those who sell goods/offer services are assured that the money they’ve been paid will not be reversed.

Anonymity:

Another major benefit of using cryptocurrencies for payments is the fact that they give you a level of anonymity that regular banks cannot. When storing your money with your banks, your financial documents are linked with the bank and the government will always know your financial status. However, cryptocurrencies give financial freedom. This has been a controversial element and many governments are upset that unaccounted income is being saved by citizens in form of cryptocurrencies.

No Risk of Identity Theft:

Making payments via cryptocurrencies provides a peace of mind as the buyer will never have to provide bank details or card numbers to the sellers. Usually, when making online payments, card details have to be entered on the seller’s website and there’s always a risk of carding or phishing or similar risks to identity theft. All of that is eliminated by cryptocurrencies as no details need to be provided.

Global Currency:

Unlike fiat money, the physical currency system that we use in the real world, cryptocurrencies do not need to be passed through a foreign exchange and do not even come with an exchange rate. A Bitcoin in Japan will hold the same value as a Bitcoin in Brazil. Buyers and sellers from any two countries can easily trade using Bitcoins, that too much faster than traditional means of payments. This eliminates foreign exchange and other additional conversion costs.

What Can You Buy With Ethereum

Divisibility:

Another benefit of cryptocurrencies is that they are easily divisible. Unlike physical currency where if you need to send $65.50 to someone, you’d have a hard time finding the exact change, there’s no such problem when it comes to cryptocurrencies. In fact, Bitcoins are divisible up to eight decimal points, with the smallest divisible unit called a Satoshi - named after the creator of Bitcoins. It’s easy to send the exact amount with the help of Cryptocurrencies.

Investment:

One reason why there has been a sudden rise in cryptocurrencies is that a number of users who aren’t as familiar with the technology that powers cryptocurrencies have begun to invest into them. This is because of the massive rise in price of Bitcoins has attracted a large number of users towards cryptocurrencies and many users see of it as a means to make quick money. While it isn’t exactly a means of quick money, but certainly a good investment opportunity.

Acceptability:

Now this is something which is an upcoming thing. At this point of time, there’s a very limited acceptability when it comes to cryptocurrencies. However there are many cryptocurrencies which have been developed for a specific purpose and are being accepted for that. (For example Sia Coin for Sia cloud storage). Other currencies such as Bitcoin and Ethereum too, are gaining mainstream appeal and many merchants have begun to accept them. Bitcoin is the most popularly accepted cryptocurrency. Let us now take a look at a list of merchants who accept Bitcoins and Ethereum up next:

List of Merchants Accepting Bitcoins

Got Bitcoins and not sure what to do with them? Here are a list of services, websites, merchants and stores which accept Bitcoin payments!

  • Subway!: Bitcoins can now be used to eat freshly made Subway sandwiches! Many Subway outlets in the US have begun to accept payments via Bitcoin.

  • Wikipedia: Planning to make a donation to Wikipedia? They now accept Bitcoin payments!

  • Wordpress: Wordpress too, has begun accepting Bitcoin payments. You can now buy your hosting and domain using Bitcoins!

  • Microsoft: One of the biggest names in the list, Microsoft too, has begun accepting Bitcoin payments for some items - especially on the Windows Store and the XBOX Store.

  • Reddit: Looking forward to buy Reddit Gold? You can now do so using Bitcoins!

  • More Stamps Global: It is a travel agency company established in Hungary. It can be used to make cheap flight, hotel and tour bookings using cryptocurrencies. The website currently support 40 cryptocurrencies including Bitcoin and Ethereum.

  • OkCupid: Online dating becomes easier with premium features! OkCupid, one of the biggest players in the world of online dating has begun to accept payments made via Bitcoins

  • Steam: Gamers are in for a treat as Steam too, now accepts Bitcoins for payment.

  • 4Chan: Looking for a 4Chan ‘Pass’ that allows you to post without a captcha? Look no further! $20 a year - the 4Chan Pass can be bought using Bitcoins.

  • Zynga: One of the biggest names in the world of mobile gaming, Zynga is the creator of many hit games such as Farmville and Poker, etc. You can now make in-game purchases using Bitcoins in Zynga games.

  • Expedia: A major name when it comes to making online travel bookings, Expedia also expects payments via Bitcoins.

  • Mega.co.nz: One of the most popular file hosts, Mega.co.nz allows its users to make payments via Bitcoins to buy premium subscriptions to the service which allow faster download speeds, no wait times and larger storage space.

  • Shopify: Setting up an online store can’t get easier than this! You can now pay for Shopify’s services with Bitcoins.

  • Naughty America: We all know what this is. Premium subscriptions are available via Bitcoin payments!

  • Save the Children: A global charity organization working towards keeping children safe. You can donate to them using Bitcoins.

  • Mint: All your financial records in one place. Mint is one of the most popular services that help you keep track of your finances. A premium membership is now available via Bitcoin payments.

  • NewEgg: One of the most popular online retailers for electronics. NewEgg too allows payments via Bitcoins.

Also Read: How to Buy Bitcoin

List of Companies Backing Ethereum

Compared to payments via Bitcoin, payments via Ethereum haven’t really caught the attention of the merchants but this might soon be a reality over the next year or two as more and more big business houses have begun backing Ethereum and are planning to implement Ethereum payments soon. Let us take a look at the top companies which have backed Ethereum:

Ethereum Who Accepts

  • Mastercard: When it comes to payment technologies, Mastercard is a global name. They have shown considerable interest in the Ethereum technology and are expected to work in collaboration soon.

  • Samsung SDS: The software development division of Samsung, Samsung SDS has shown great faith in the Ethereum technology in the past.

  • Brave Browser: A browser without ads. Brave Browser used to accept payments only in dollars in the past, but it has now begun payments in the form of Ether.

  • Swiss Banks: Some Swiss Banks, including Credit Suisse have shown an active interest in Ethereum payments. Apart from the Swiss Banks, many other banks have also shown interest in the Ethereum technology such as the UBS and Scotiabank.

  • Toyota: One of the biggest and most popular automobile makers of the world, Toyota has been one of the biggest backers when it comes to Ethereum technologies and have shown great faith in it.

  • Intel: One of the biggest chip-makers in the world, Intel too, has begun to consider Ethereum as one of the strongest cryptocurrencies.

  • Microsoft: Microsoft has been quite high on the future of cryptocurrencies. The company began to accept Bitcoin payments and is also quite confident in the long-term success of Ethereum.

While Ethereum has a very limited acceptability at the moment, most people who accept this currency do it only for investment. However, with time, Ethereum is bound to become a major cryptocurrency used for payments. With its support for Smart Contracts, Ethereum has the potential to provide a great competition to Bitcoins. However, for the moment it’s all about Bitcoins.

Bitcoins are well-accepted though very few merchants are accepting it now. However, with companies like Microsoft, NewEgg, Expedia and Subway accepting Bitcoin payments, it won’t be long before other mainstream names too join them! The future of cryptocurrencies is indeed interesting.

Ethereum Who Accepts

Ethereum is considered one of the most successful altcoins so far. When it comes to payments, the time taken to confirm an Ethereum payment is far less than a Bitcoin payment. A Bitcoin payment approval takes 10 minutes on average, whereas it takes much shorter to pay with Ethereum. Despite being more convenient, one severe issue that Ethereum faces to date is finding enough number of places that accept Ethereum payments. Earning more brand recognition and solving some of the scalability issues would definitely make Ethereum more popular as a crypto payment option in the days to come.

However, since 2017, Ethereum has been speeding up on gaining traction in the market as a medium of crypto payments. The list of stores that accept Ethereum is increasing with each passing day. A lot of Ethereum payment gateways have also come into the scene of late. Here, in this article, we will provide a holistic overview of how to use Ethereum by pointing out the Ethereum payment channels and listing out some of the sellers that accept Ethereum payments. We will also discuss vital functional details pertaining to how to accept Ethereum on this website.

Who Accepts Ethereum as Payment Today?

Ethereum Who Accepts Paypal

For Ethereum holders eager to know where can I pay with Ethereum, here is a list of popular sites that will prove useful:

  • One of the largest Swiss online retailers Digitec Galaxy accepts Ethereum payments.
  • UK’s largest independent marketplace Flubit accepts Ethereum
  • Zorket, an international marketplace that offers retail fashion products such as apparel, bags, shoes, and accessories accepts Ethereum.
  • CheapAir.com is a flight ticket aggregator that had already accepted more than US$5 million worth of Bitcoins before it started accepting Ethereum.
  • Tripio is a company similar to Airbnb that allows homeowners to rent their properties and earn cryptos in return.
  • GamerAll is a marketplace that sells characters, weapons, and skins for most of the popular games, such as DOTA 2 and Rust in exchange for crypto.
  • Bitcoin Grotto is a brick and mortar store in the UK that accepts cryptocurrency. In exchange for coins such as ETH, BTC, and LTC, customers can buy smartphones, gaming consoles, TV sets, etc from this store.
  • A well-known pet supplies retailer CryptoPet accepts Ethereum payments.
  • PizzaForCoins, a pizza shop that sells its pizzas exclusively in exchange for cryptocurrency accepts ETH.
  • The widely popular VPS hosting service Snel.com accepts Ethereum payments.
  • Blockchain coffee is a gourmet coffee sold specifically to ETH enthusiasts. Anyone can pay with ETH for a blend of this coffee.
  • Overstock, a popular interior design company that deals with home improvement and offers goods such as furniture, electronics, jewelry, and materials for décor accepts Ethereum payments.
  • Tapjets, one of the biggest private jet booking platforms in Crypto in the US accepts Ethereum.
  • The popular Scandinavian web-hosting platform FlokiNET accepts Ethereum.
  • The popular eCommerce store in Amsterdam Peddler.com accepts Ethereum payments.
  • Popular online retailer gift cards eGifter accepts Ethereum.
  • Amagi Metals is a place where one can buy gold and silver with Ethereum.
  • BitGild is another retailer focused on selling precious metals that accept Ethereum.
  • 1000EcoFarms, a store to purchase farm-fresh products, accepts Ethereum.
  • The Hungarian travel agency MoreStampsGlobal accepts Ethereum.

There are several other stores and retailers that have provisions for an Ethereum payment. The above list only shows some of the better-known brands.

Does Amazon Accept Ethereum?

Being the largest eCommerce retailer, people are often curious to know whether Amazon accepts Ethereum payments. Well, the answer is that they do. With the help of the Lightning Network browser extension, people can make purchases from Amazon using Ethereum.

The service that makes the transaction possible leverages the services of the Lightning Network to convert crypto to fiat without charging any extra fees. For now, the service is only available in the United States. Amazon also allows buying gift-cards using Ethereum.

Ethereum Payment Method

To accept payments in Ethereum, a store needs to integrate an Ethereum payment gateway. The process is easy and convenient for the sellers. What these payment gateways do

is that they automate Ethereum and other cryptocurrency payments while speeding up the transaction and eliminating the need for intermediaries. These payment gateways offer highly encrypted, secure payments at a much cheaper cost compared to traditional payment gateways.

The development of these payment gateways is based on the building blocks of smart contracts. Contracts that are used for processing and verifying peer-to-peer transactions. Smart contract-based payments offer increased transparency and enhance the level of security. It makes these payments less vulnerable to cyber hacks and attacks. If a seller does not want to go with a payment gateway, they can post their ETH wallet address on the website.

Payments Through Credit Card

There are intermediate services that help make ETH payments via VISA cards. The users only need to connect their ETH wallets to the payment card. These intermediary services then exchange the ETH in the wallet for traditional fiat currency such as US dollars. These intermediaries charge a commission of nearly 2% for making such conversions.

Summary

In terms of market capitalization, Ethereum is the second-largest cryptocurrency. With a market cap nearing US$53 billion, the only cryptocurrency that has a larger spread than Ethereum in the market is Bitcoin. With such a high volume of market cap, it is quite expected that Ethereum will soon become as popular as bitcoin as a medium of payment and peer-to-peer exchange. With growing availability, more and more merchants will set up Ethereum payment gateways to accept ETH.

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