Here’s a List of 20 Companies that Accept Bitcoin
It’s no wonder that the ongoing evolution the digital world has been subjected to over the last 15-20 years or so would drastically change our way of living. Technology has entered every individual’s life to a point where there’s a certain expectation of having to rely on digital means in order to perform daily activities, such as purchasing or selling a product.
Cryptocurrencies and Bitcoin
If we’re talking about transactions in electronic form, the first thing that naturally comes to mind is cryptocurrencies. A cryptocurrency – or crypto – is, simply put, digital money. Crypto is therefore a medium of exchange for electronic currency that doesn’t have a physical counterpart in the real world. Digital coins are stored in a ledger, meaning a database equipped with a strong cryptography system that secures transaction records, controls the creation of new coins and verifies the transfer of coin ownership.
Cryptocurrencies represent a revolution in the transaction sphere primarily due to their use of decentralized control. When a currency is decentralized, it means that it gets used and distributed away from a central, authoritative entity, in this case, a central bank. Banks have no control over cryptocurrency transactions, meaning that digital coin owners don’t need to have an intermediary to operate. Instead of being managed by a central bank, cryptocurrencies usually work through blockchains, a form of distributed ledger technology, which function as public financial transaction databases (source: Wikipedia).
The most notable example of decentralized crypto is Bitcoin, the protagonist of today’s article. Created by a programmer (or a group of programmers) under the pseudonym Satoshi Nakamoto, the Bitcoin is known as the most popular cryptocurrency nowadays. This digital currency started off as an open-source software in 2008, and it continued to be to this day. Being a decentralized crypto, Bitcoin uses peer-to-peer technology to operate without any input from central authority or banks: managing transactions and the issuing of bitcoins is carried out collectively by the network (source: bitcoin.org).
List of companies that accept Bitcoin payments
Now, before making the decision of investing in Bitcoin, you’ll probably want to know if doing so will be worth it. When you buy a good amount of bitcoins, you’ll want to first make sure that they can actually be used to perform the transactions you’re interested in making. Therefore, understanding how widespread the use of Bitcoin is is of vital importance if you don’t want to waste a ton of money. That’s why, in this article, we will give you a list of the major companies and organisations that accept Bitcoin payments in their online stores right now:
– Whole Foods
– Home Depot
– The Pirate Bay
– Domino’s Pizza