Former U.S. President and presidential candidate Donald Trump’s campaign now accepts cryptocurrency donations through Coinbase Commerce. The new fundraising page enables federally permissible donors to contribute using any cryptocurrency supported by Coinbase Commerce. President Trump has championed reduced regulations and innovation in financial technology, contrasting with Democrats like Joe Biden and Senator Elizabeth Warren, who […]
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Former Binance Boss CZ Apologizes, Accepts Responsibility Ahead of Sentencing
Changpeng Zhao, the former CEO of Binance, has publicly apologized for his past decisions and accepted full responsibility for his actions. This comes as U.S. prosecutors are seeking a 36-month prison sentence for Zhao in connection with compliance failures at the cryptocurrency exchange. Changpeng Zhao Issues Apology as Sentencing Nears In a letter to the […]
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How To Accept Crypto Payments And Who Accepts Bitcoins?
Accepting crypto payments may sound daunting, but with the right tools and knowledge, it’s a game-changer for businesses. This article simplifies the process, from understanding the basics of crypto payments to seamlessly integrating them into your business operations. We’ll explore how to accept crypto payments, the most effective cryptocurrencies for transactions, highlight businesses leading the charge which accept Bitcoins as payments, and unveil the advantages of adopting this futuristic payment method.
Crypto Payments For Businesses Explained
For businesses, adopting crypto payments is not just a nod to modernity; it’s a strategic move towards cost-efficiency and broader market access. One of the most significant advantages of crypto payments is the substantial savings on fees typically imposed by centralized point-of-sale (POS) service providers and credit card companies like Visa and Mastercard.
Cryptocurrencies operate on decentralized networks, which means transactions do not require intermediaries. This absence of middlemen significantly reduces transaction costs, a benefit that can be particularly impactful for businesses with high sales volumes or those dealing with international transactions, where traditional fees can accumulate quickly.
Moreover, crypto payments provide an alternative to the delay often associated with bank processing times. Transactions can be completed at a much faster rate, enhancing the cash flow for businesses. This speed, coupled with the reduced cost, presents a compelling case for businesses to integrate crypto payment options.
Another crucial aspect is the security and fraud prevention inherent in blockchain technology, the foundation of cryptocurrencies. The encrypted and immutable nature of blockchain transactions adds a layer of security that is challenging to achieve with traditional payment methods.
By accepting crypto payments, businesses not only align themselves with a tech-savvy consumer base but also leverage a global payment system devoid of geographical boundaries and currency conversion issues. This global reach can be particularly beneficial for online businesses looking to expand their market.
Providers Of Crypto Payment Systems
Crypto payment gateways are essential for businesses looking to accept cryptocurrency transactions. These platforms provide the necessary infrastructure, such as point-of-sale (POS) systems and shopping cart integrations, for seamless crypto transactions. They also offer additional conveniences like protecting merchants from the volatility inherent in cryptocurrencies and facilitating currency conversions and invoicing.
Each of these gateways has its unique strengths, catering to different business needs and preferences. Choosing the right provider depends on factors like the range of cryptocurrencies you wish to accept, the ease of integration with your existing systems, the level of exposure to crypto volatility you’re comfortable with, and the specific features you need to streamline your crypto transactions.
Coinbase Commerce
Known for its easy integration with major US cryptocurrency exchanges, Coinbase Commerce offers a flexible solution for businesses. It provides custom checkouts, a connection to the Coinbase crypto exchange, crypto wallets, invoicing, refunding, reporting tools, and an API for developers. Importantly, it offers volatility shielding under its managed plan. Coinbase Commerce supports a range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and others, with a transaction fee of 1%.
BitPay
One of the early entrants in the crypto payments sector, BitPay is known for its robust infrastructure and integration capabilities. It provides volatility protection, invoicing, mass payouts, and the option for a prepaid Mastercard. BitPay supports multiple cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. It charges a transaction fee of 1% + .25, which may be higher for certain high-risk industries.
CoinGate
Particularly suitable for companies outside the US, CoinGate supports an impressive array of over 70 cryptocurrencies. It integrates well with various eCommerce platforms and offers features like crypto conversions, invoicing, and a developer sandbox. CoinGate’s transaction fee is 1%, with additional charges for settlements in fiat currencies like the Euro.
NOWPayments
This gateway stands out for its low transaction fees, starting at 0.5%, and supporting a wide range of over 70 cryptocurrencies. NOWPayments is ideal for businesses looking for straightforward solutions without custodial features. It offers services like cryptocurrency conversions, fiat settlement options, invoicing, mass payouts, and POS software. The platform’s pricing model is attractive, although additional costs for services like fiat settlement and volatility shielding can add up.
AlfaCoins
AlfaCoins distinguishes itself with flexible payment options and competitive fees. It supports a more limited range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. The transaction fee is slightly lower than its competitors at 0.99%, and it offers unique features like the CoinSplit option, which allows for partial payments in different currencies. AlfaCoins is particularly advantageous for non-profit organizations, offering lower fees for donations and even zero-fee plans.
Strike
Strike stands out as a unique player in the realm of crypto payments, primarily leveraging the Bitcoin Lightning Network. The Lightning Network is a layer 2 payment protocol layered on top of the Bitcoin blockchain, designed to facilitate faster and more cost-effective transactions. This is particularly beneficial for handling microtransactions, which are impractical with traditional Bitcoin payments due to higher fees and longer processing times.
Setting Up Crypto Payment Systems
Integrating a crypto payment system into your business involves several key steps to ensure a smooth and secure transaction process. Here’s a guide to getting started:
- Choose A Crypto Payment Gateway: Select a provider that aligns with your business needs. Popular options include Coinbase Commerce, BitPay, CoinGate, NOWPayments, AlfaCoins, and Strike via the Bitcoin Lightning Network.
- Create A Merchant Account: Once you’ve chosen a provider, you’ll need to create a merchant account on their platform. This typically involves providing business details, setting up security measures, and linking bank accounts for fiat settlements if needed.
- Integration With Your Business Platform: Integrate the crypto payment gateway with your existing business infrastructure. This could be through plugins or APIs.
- Set Up A Digital Wallet: To receive and store cryptocurrency payments, you’ll need a digital wallet. Some gateways offer their own wallets, while others may require you to set up an external wallet.
- Configure Payment Options: Configure your payment gateway settings according to your preferences.
- Implement Security Measures: Ensure that robust security measures are in place to protect against fraud and hacking.
- Educate Your Team: Educate your staff about how crypto payments work, how to process them, and how to troubleshoot common issues.
- Testing: Before going live, thoroughly test the crypto payment system to ensure that it works seamlessly.
- Launch And Marketing: Once testing is complete, launch the crypto payment system. Use marketing strategies to inform your customers, highlighting the benefits.
Best Crypto For Payments
Selecting the best cryptocurrency for business transactions is crucial for ensuring efficiency, security, and customer satisfaction. Here are some of the best cryptos for payments:
- Bitcoin (BTC): As the first and most well-known cryptocurrency, Bitcoin is widely accepted. However, its transaction times and fees can be higher compared to other cryptocurrencies, when not choosing a Lightning Network based solution.
- Ethereum (ETH): Known for its flexibility and the support of smart contracts, Ethereum is a popular choice for businesses. It’s particularly suitable for businesses involved in digital services and products. However, fees can be quite high on the base layer as well.
- Litecoin (LTC): Often considered as the silver to Bitcoin’s gold, Litecoin offers faster transaction times and lower fees.
- Stablecoins (USDT, USDC, DAI): Pegged to stable assets like the US dollar, stablecoins offer the benefits of cryptocurrency without the volatility. This makes them ideal for businesses concerned about the fluctuating value of other cryptocurrencies.
- XRP: Known for its low cost and fast transaction times, XRP is becoming a preferred choice for international transactions and businesses with a global customer base.
- Dogecoin (DOGE): Initially started as a joke, Dogecoin has gained popularity and is now used by some businesses, especially in the retail and entertainment sectors.
When selecting the best cryptocurrency for payments, consider factors like transaction speed, fees, market acceptance. It’s also important to decide if you want to keep Bitcoin or crypto on your company’s balance sheet. Then, Bitcoin is probably the less riskiest bet as “digital gold.”
Who Accepts Bitcoins As Payment?
Bitcoin’s acceptance as a payment method has seen a significant rise, with a diverse range of companies integrating it into their payment options.
Businesses That Accept Crypto
Below is a list of some notable companies that accept Bitcoin:
Tech Companies
- Microsoft: Allows Bitcoin for Microsoft account top-ups.
- AT&T: First major U.S. mobile carrier accepting crypto through BitPay.
- Namecheap: Bitcoin payment for domain management and registration.
- The Internet Archive: Accepts Bitcoin donations.
- ExpressVPN: Bitcoin payments accepted via Bitpay.
- DishNetwork: Subscription payments with Bitcoin and Bitcoin Cash.
- Grooveshark: Bitcoin payments via Stripe.
- SEOclerks.com: Accepts Bitcoin for its SEO-focused job marketplace.
- Substack: Pay newsletters in Bitcoin.
- WordPress.com: Bitcoin payments through Bitpay.
- Tesla: The electric car giant briefly accepted Bitcoin, but still accepts Dogecoin.
Fintech Companies
- Paypal: Buy, sell, and hold cryptocurrencies.
- Intuit Quickbooks: Accepts Bitcoin.
- Mint.com: Tracks Bitcoin since 2015.
- Coinfuel: Gas Gift Cards with Bitcoin.
- ForexTime (FXTM): Cryptocurrency trading.
- AvaTrade: Cryptocurrency trading options.
- FBS: Foreign exchange trading with cryptocurrencies.
- eToro: Cryptocurrencies on a traditional trading platform.
- Ecommerce Companies
- NewEgg: Hardware and electronic gadgets.
- Shopify: Thousands of merchants accepting Bitcoin.
- eGifter and Gyft: Buy gift cards with Bitcoin.
- BitPlaza: Wide range of products.
- Etsy: Merchants can accept crypto.
- Fancy.com: Global shopping site.
Gaming and Entertainment Companies
- Twitch: Streaming platform accepts Bitcoin and Litecoin
- BigFishGames.com: Casual games creator.
- HumbleBundle: Games, ebooks, software.
- Xbox: Subscriptions with Bitcoin.
- Zynga: Social gaming platform.
- Movietickets.com: Online movie ticketing.
- Lionsgate films: Hollywood studio.
- AMC Theaters: Movie tickets with Bitcoin.
Food Companies
- Subway: Some locations accept Bitcoin.
- Burger King: Germany and Venezuela.
- KFC: Special Bitcoin bucket deal.
- The Pink Cow – Japan: Bitcoin ATM.
- Pemburry Tavern: Britain’s first Bitcoin pub.
- Old Fitzroy: Sydney pub.
- Bitcoin Coffee: Prague cafe.
- Dominoes In The Netherlands: Employee payments.
- WholeFoods: Via Spedn app.
- Coupa Cafe: Silicon Valley early adopter.
- JustEat: In some countries via BitPay.
Travel Companies
- CheapAir: Flights and hotels.
- Travala.com: Hotels, flights, activities.
- More Stamps Global: Flights, hotels, travel services.
- BTCTrip: Bitcoin-supported flights.
- Webjet: Australian online travel agency.
- Alternative Airlines: BTC Travel and vacations.
- Peach Aviation: Japanese carrier accepting BTC.
- Virgin Galactic: Space flight venture.
- Expedia: Airline tickets with Bitcoin.
Jewelers And Precious Metal Companies
- REEDS Jewelers: Luxury watches and jewelry.
- Vaultoro: Precious metals and Bitcoin.
- Menlo Park: High-end jewelry.
- Luxe Watches: Luxury brand watches.
- Saving Pearls: Handmade jewelry shop.
- American Bullion: Gold investor company.
- SchiffGold: Precious metals.
Other Companies Who Accept Bitcoin As Payment
- Wikipedia: Open encyclopedia accepting Bitcoin donations.
- SavetheChildren: Nonprofit accepting cryptocurrency.
- European School of Management and Technology Berlin: Education institute.
- University of Cumbria: UK university.
- Juliette Interiors: Luxury UK-based furniture retailer.
- Mobler Design: Furniture company.
- Red Cross: Nonprofit accepting Bitcoin.
- UnitedWay: Community of nonprofits.
- BitGive: First Bitcoin nonprofit.
- McLaughlin & Stern: Law firm.
- Central Texas Gunworks: Firearms dealer.
- Inguard: Insurance company.
- Managego: Platform for rent payment with Bitcoin.
- Dallas Mavericks: Accepts Bitcoin as a payment method for game tickets and merchandise, processed through BitPay.
Bitcoins As Payment: Using The Lightning Network
The Lightning Network represents a significant advancement in the use of Bitcoin as a payment method. It’s a “layer 2” payment protocol layered on top of the Bitcoin blockchain, designed to enable faster and more cost-efficient transactions.
This is particularly beneficial for microtransactions, which can be impractical on the main Bitcoin network due to higher fees and longer processing times. Key features include:
- Speed: Transactions are almost instantaneous, drastically reducing waiting times.
- Reduced Fees: Much lower than traditional Bitcoin transactions, making it economical for small purchases.
- Scalability: Can handle a massive volume of transactions, which the main Bitcoin network might struggle with.
- Enhanced User Experience: Provides a smoother and more efficient transaction process, ideal for everyday purchases.
- Increased Adoption: Its efficiency makes Bitcoin more practical for mainstream use, encouraging wider adoption.
Businesses using the Lightning Network can offer customers a quick and low-cost way to pay with Bitcoin, making it an attractive option for both small-scale and large transactions. This technology is particularly appealing for online businesses and retailers, where speed and efficiency are crucial.
Advantages Of Crypto Transactions
Crypto transactions, particularly at the point-of-sale (POS), present several advantages over traditional methods like Visa, Mastercard, or other payment service providers. The decentralized nature of cryptocurrencies means lower transaction fees, as there are no intermediary institutions such as banks or credit card networks charging for their services. This can result in substantial savings for businesses, especially those with high transaction volumes.
Moreover, crypto transactions often process faster than conventional methods, a significant advantage for both merchants and customers. They enhance security, leveraging blockchain technology’s inherent encryption and immutability, which minimizes fraud risks. Unlike traditional payment methods, cryptocurrencies are not bound by national borders or subject to the same regulatory constraints, offering a more seamless experience for international transactions.
Additionally, accepting cryptocurrencies can enhance a business’s market appeal, especially to tech-savvy customers who prefer using digital currencies. By adopting crypto payments, businesses position themselves as forward-thinking and adaptable to emerging financial technologies.
FAQs On Crypto Payments
How To Accept Bitcoin As Payment?
To accept Bitcoin as payment, businesses need to set up a digital wallet and choose a payment gateway like Coinbase Commerce or BitPay. Integration with existing POS systems or online platforms is typically required, followed by configuring the payment settings to accept Bitcoin.
Who Takes Bitcoin As Payment?
Numerous businesses, including tech companies like Microsoft, retailers like Overstock, and various food outlets and travel companies, accept Bitcoin. The acceptance is growing, encompassing a wide range of industries.
How To Accept Crypto Payments?
Accepting crypto payments involves selecting a crypto payment processor, setting up a cryptocurrency wallet, integrating the payment system into your business infrastructure, and deciding on the cryptocurrencies you wish to accept.
Who Accepts Bitcoins As Payment?
Businesses across different sectors accept Bitcoin. This includes tech companies like Microsoft, AT&T, various eCommerce platforms, and service providers like ExpressVPN.
Who Accepts Bitcoin As Payment?
Numerous renowned companies across various sectors accept Bitcoin as a form of payment. These include major tech companies like Microsoft and AT&T, eCommerce giants like Overstock, and notable travel companies such as Expedia and Virgin Galactic. The list also features entertainment and food service providers like AMC Theaters and Subway.
How To Accept Crypto Payments As A Business?
Businesses can accept crypto payments by choosing a suitable crypto payment gateway, integrating it with their sales system, setting up a crypto wallet, and educating their staff about handling crypto transactions.
What Are The Best Cryptos For Payments?
The best cryptocurrencies for payments include Bitcoin, Ethereum, Litecoin, XRP and stablecoins like USDT and USDC due to their wide acceptance, relative stability, and lower transaction fees compared to traditional payment methods.
Colorado DMV Accepts Crypto Payments Through Paypal
The Colorado Department of Motor Vehicles (DMV) has announced it accepts cryptocurrency for its online services via the payment processor Paypal. Besides paying local taxes with coins, residents of the crypto-friendly state will be able to use their digital cash to renew driver’s licenses and plates.
Colorado Introduces Online Payments With Crypto at the DMV
People in Colorado who use the online services of the state’s Department of Motor Vehicles, like renewing a driver’s license or vehicle registration, can now pay with cryptocurrency through the popular payment platform Paypal, the Denver 7 TV channel reported.
Those who chose to pay with crypto will be directed to Paypal, where they can select the digital currency they want to use which will then be converted to U.S. dollars and eventually transferred to the department, DMV officials explained.
“At the DMV, we’re always looking for ways to better serve Coloradans and leverage technology to offer our services,” Senior Director Electra Bustle emphasized in a statement quoted on Thursday. The executive further elaborated:
This new online cryptocurrency payment option is yet another way the DMV is providing innovative and convenient service delivery to our customers.
A service fee of plus 1.83% of the DMV total will be applicable to payments made with cryptocurrencies, the department noted. The DMV is currently accepting crypto transactions only through Paypal which can apply its own fees.
Colorado has been open towards cryptocurrency adoption. Under Governor Jared Polis, it started accepting crypto as payment of state taxes and fees in the summer of 2020. The Colorado Digital Token Act, which allows certain cryptocurrencies to have securities exemptions, was passed the previous year.
Do you expect other states to introduce crypto payments for taxes and services? Tell us in the comments section below.
Singapore Red Cross Says It Now Accepts Crypto Donations
Well-wishers who want to financially support the Singapore Red Cross can now do so via crypto donations. All donations are converted into fiat currency within 24 hours after the donation has been made. Benjamin William said his organization has enabled the crypto option for “donors who are tech-savvy and wish to make a difference through their digital assets.”
Crypto Tax Deductions
The Singapore Red Cross has said well-wishers can now donate via cryptocurrency but donors will not receive tax deductions, a report has said. According to the charitable organization, all donations are converted into fiat currency less than 24 hours after the donation has been received.
As per a Straitstimes report, the Singapore Red Cross has partnered with the crypto payment gateway Triple A. Commenting on Singapore Red Cross’ decision to start accepting crypto donations, Benjamin William, the organization’s CEO, said:
By accepting digital currencies, we open our doors to a new segment of donors who are tech-savvy and wish to make a difference through their digital assets.
By accepting donations in the form of BTC, ETH, and the stablecoins USDT and USDC, the Singapore Red Cross joins other local charitable organizations such as The Food Bank Singapore, which already accepts cryptocurrencies.
According to the report, other crypto-accepting Singaporean charitable organizations such as Daughters of Tomorrow and Cycling Without Age are using the platform Digital Philanthropy.
What are your thoughts on this story? Let us know what you think in the comments section below.
US Securities Regulator Accepts Valkyrie’s Spot Bitcoin ETF Application
The U.S. Securities and Exchange Commission (SEC) has formally accepted the spot bitcoin ETF application filed by asset manager Valkyrie. The move, which opens the door to an official review process, follows last week’s acknowledgment of Blackrock’s bitcoin ETF application.
U.S. SEC to Review Valkyrie’s Bitcoin ETF Application, Expects Public Feedback
The United States’ securities regulator has given the nod to an official review of the spot bitcoin exchange-traded fund (ETF) application submitted by financial services company Valkyrie. The application was added to the government agency’s docket on Monday, July 17.
The listing on the SEC’s calendar comes after this past Thursday the Commission acknowledged a similar application by Blackrock, the world’s largest asset management firm. Public comments on the proposal will be accepted for 21 days after publication in the Federal Register.
Industry players are competing to launch a spot bitcoin ETF in the U.S., including Bitwise, Wisdom Tree, Wise Origin Bitcoin Trust, Vaneck, Invesco, and Fidelity, but the SEC has so far rejected a number of applications. Among them, that for Valkyrie’s “Bitcoin Strategy ETF.”
Tennessee-based Valkyrie, which already offers a bitcoin futures ETF, submitted its new application for an ETF named “Valkyrie Bitcoin Fund,” ticker symbol “BRRR,” on June 21. That happened days after the filing for financial giant Blackrock’s “Ishares Bitcoin Trust” gave cause for optimism that the SEC may finally greenlight a spot bitcoin ETF.
Then, in early July, Valkyrie amended its filing to add a surveillance-sharing agreement with leading U.S. cryptocurrency exchange, Coinbase, again following in the footsteps of Blackrock which did the same earlier. Both applicants chose Coinbase as a partner despite the trading platform being one of the companies targeted in the SEC’s ongoing clampdown on the crypto sector.
During the 21-day comment period, the SEC will gather public feedback and suggestions on Valkyrie’s proposal before it decides on the application. The Securities and Exchange Commission is yet to approve a spot bitcoin exchange-traded fund in the U.S., a step that regulators in neighboring Canada have already taken, while Europe is preparing for the launch of its first bitcoin ETF later this month.
Do you expect the SEC to officially accept other spot bitcoin ETF applications? Tell us in the comments section below.
SEC Accepts Blackrock’s Bitcoin ETF Application
The U.S. Securities and Exchange Commission (SEC) has accepted the application for a bitcoin exchange-traded fund (ETF) filed by asset manager Blackrock. The move indicates the regulator is preparing to seriously consider a bitcoin ETF and could eventually set the stage for wider adoption of crypto assets and products.
SEC Adds Blackrock’s Bitcoin ETF Application to Docket, Seeks Public Comments
The U.S. securities regulator has officially accepted Blackrock’s application for a spot bitcoin ETF. Once it’s published in the Federal Register, the SEC will open a 21-day window for submission of public comments on the proposal and they will be posted on its website.
The application’s addition to the SEC’s docket on Thursday marks the beginning of a long review process that will be closely followed by the crypto community and industry. Blackrock is the world’s largest asset management firm and the SEC process for its bitcoin ETF sends a signal about the future of crypto-based investment products in the United States.
Blackrock filed its application in mid-June amid an ongoing crackdown by the SEC on crypto platforms for alleged violations of U.S. securities laws through the offering of digital assets that the regulator considers unregistered securities.
One of the targeted companies, leading U.S. cryptocurrency exchange Coinbase, was chosen by the asset manager to serve as custodian for its Ishares Bitcoin Trust, the assets of which consist primarily of bitcoin. Blackrock’s filing incorporates a surveillance-sharing agreement with Coinbase.
The Securities and Exchange Commission has previously denied approval of bitcoin ETFs in the U.S. on numerous occasions, citing concerns such as the risk of market manipulation and insufficient protection for investors.
Besides Blackrock, others that have also filed applications for spot bitcoin ETFs include Bitwise, Wisdom Tree, Wise Origin Bitcoin Trust, Vaneck, Invesco, and Fidelity. Bitwise’s application was accepted earlier this week as well.
The number of applications, along with Blackrock’s status as a financial powerhouse, have spurred optimism in the crypto space that a bitcoin ETF will be approved in the United States, something that Canada, for example, has already done.
A report by the Financial Times on Thursday unveiled that Europe expects its first bitcoin ETF by the end of July. The product, which is on track to be publicly listed by Jacobi Asset Management after a year-long delay, has been authorized in the Channel island jurisdiction of Guernsey to avoid regulatory hurdles in the EU.
Do you think the SEC will approve Blackrock’s application for bitcoin ETF? Share your expectations in the comments section below.
A Catholic Church In Washington Now Accepts Crypto Donations, Why It Matters
The Roman Catholic Archdiocese of Washington, DC, has announced intentions to expand its ministry and support 139 parishes and regional initiatives for the needy by accepting crypto donations.
Roman Catholic Archdiocese of Washington Partners With Engiven
The donations will be accepted through Engiven, an enterprise donation platform that uses the blockchain to assist non-profits access cryptocurrency donations to further their cause. The platform has already enabled crypto donations for over 400 faith-based groups, including a million Bitcoin donation, one of the largest single BTC donations in history.
The Executive director of Development in the Archdiocese of Washington, Joseph Gillmer, stated that their aim in accepting crypto is to boost their ability to communicate with parishioners while making it easier for them to fulfill the church’s mission.
Engiven’s cryptocurrency donation platform will play a key role. The portal will allow people to donate crypto assets to over 300 parishes, schools, and ministries in the broader Washington, D.C., area. The digital nature of the platform also means donors can send money anonymously using various cryptocurrencies, including Bitcoin, from across the globe.
While the move is part of a trend of non-governmental organizations accepting the applicability of blockchain, especially in payment using cryptocurrencies, the Vatican has not yet issued clear guidance on the matter, nor have they officially acknowledged using cryptocurrencies.
The Catholic Crypto Conference
In Nov. 2022, the first-ever Catholic Crypto Conference was held in Valley Forge, Pennsylvania. It brought together over 250 congregants, including theologians, philosophers, cryptocurrency enthusiasts, and professionals from the financial services industry, to discuss and enhance the relationship between Catholicism and cryptocurrencies.
The conference focused on the opportunities and risks of crypto and how the Catholic Church should view blockchain technology and its use case outside of the financial world, such as storing parish documentation.
Blockchain is an immutable and distributed database that can store and track various transactions, including documents, coins, or artifacts with precision to their origins, potentially making storage safer. Safe storage can also help prevent corruption by keeping exact records of when and who accessed parish funds or documents.
In 2019, Pope Francis said that a “better world is possible due to technology if it is accompanied by ethics and inspired by a vision of the common good.” The key is all technology can be good if used to promote the common good.
While the Roman Catholic Archdiocese of Washington appears to be leaning on technology and leveraging cryptocurrencies, the United States has been aggressively cracking down on crypto companies.
Recently, the United States Securities and Exchange Commission (SEC) issued a Wells Notice to Paxos, the issuer of the BUSD, a stablecoin, claiming that the token was an unregistered security.
Elon Musk Reaffirms Offer to Eat Happy Meal on TV if McDonald’s Accepts Dogecoin
Tesla and Twitter CEO Elon Musk has reaffirmed his commitment to eat a McDonald’s Happy Meal on TV if the fast food chain accepts the meme cryptocurrency dogecoin (DOGE). Musk originally made the offer a year ago but McDonald’s responded with a counteroffer at the time.
Elon Musk, McDonald’s, and Dogecoin Payments
Tesla, Spacex, and Twitter CEO Elon Musk has reaffirmed his commitment to eat a McDonald’s Happy Meal on Television if the fast food giant starts accepting payments in dogecoin (DOGE).
It has been a year since the billionaire tweeted his offer on Jan. 25, 2022. However, McDonald’s did not accept his offer at the time. “Only if Tesla accepts grimacecoin,” the Twitter account for the fast food corporation replied to him. Grimace is a fluffy, purple character who tags along with Ronald McDonald in McDonaldland commercials.
The subject came up again this week when Twitter user Dogedesigner asked Musk on Thursday whether his offer is still open. The Tesla boss replied with the 100 emoji, indicating that he still stands by his offer.
Following the interaction between the McDonald’s Twitter account and Musk in January last year, grimacecoin (GRIMACE), a crypto token that has nothing to do with either McDonald’s or Musk, was launched. At the time of writing, each grimacecoin is trading at .5879.
Musk, who is known in the meme crypto community as the Dogefather, has long been a supporter of dogecoin. His electric car company, Tesla, currently accepts DOGE for some merchandise, and Musk has said that Spacex will follow suit. Moreover, his Boring Company accepts DOGE payments for some rides.
The billionaire previously revealed that he personally owns bitcoin, ether, and dogecoin. He said in June last year that he will keep buying and supporting DOGE. In July, he confirmed that Tesla has not sold any DOGE, and in November, he said: “Dogecoin to the Moon.”
What do you think about Elon Musk offering to eat a McDonald’s Happy Meal on TV if the fast food chain accepts dogecoin? Let us know in the comments section below.
Confirmed: AMC Now Accepts Bitcoin, Ethereum, Two Other Cryptos, Dogecoin To Follow
AMC has now officially become the first theater chain to accept Bitcoin, Ethereum, and cryptocurrency payments on its platform. This has been a long time coming after CEO Adam Aron had first announced the entertainment giant’s plans to accept crypto payments by the end of the year. The announcement had said that it would accept crypto payments online for both movie tickets and concessions.
Crypto Payments On AMC Are Official
Everything on AMC’s end looks to have worked right on schedule as the annulment three months ago had stated that the company would begin accepting crypto payments in the fourth quarter of the year. Aron took to Twitter to announce the exciting news that AMC had in fact begun receiving payments in four cryptocurrencies. These included Bitcoin, Ethereum, Bitcoin Cash, and Litecoin.
Big newsflash! As promised, many new ways NOW to pay online at AMC. We proudly now accept: drumroll, please… Bitcoin, Ethereum, Bitcoin Cash, Litecoin. Also Apple Pay, Google Pay, PayPal. Incredibly, they already account for 14% of our total online transactions! Dogecoin next. pic.twitter.com/a7pqYBm7HB
— Adam Aron (@CEOAdam) November 12, 2021
Related Reading | SpaceX Dogecoin-Funded DOGE-1 Mission Set To Launch In Q1 2022
At first, Bitcoin was the only crypto that was to be accepted by the change but further reviews had seen the theater chain add more options due to popular demand. One of the reasons being bitcoin carried high transaction fees and would not be the most ideal option for carrying out small transactions. Not long after the bitcoin announcement, CEO Adam Aron had announced that Ethereum, Bitcoin Cash, and Litecoin would be joining the lineup.
Doge begins another recovery trend | Source: DOGEUSD on TradingView.com
Other additions came later after Aron had carried out a poll on Twitter. In the poll, he asked the community if they would like to see the popular meme coin Dogecoin accepted and the majority had voted yes. So AMC had incorporated Dogecoin payments for gift cards and plans to introduce Doge payments for movie tickets and concessions.
When Are Dogecoin And Shiba Inu Payments Coming?
In the announcement tweet, Aron had said that Dogecoin payments were coming. There was no definite timeline given for this but with four cryptocurrencies already in operation, speculations are it would not be too far in the future. However, Aron had said nothing about its latest addition to its crypto lineup; Shiba Inu.
Related Reading | AMC Theatres Says Customers Will Soon Be Able To Pay With Shiba Inu
The CEO had carried out another poll on Twitter, but this time for Dogecoin’s rival Shiba Inu. Once again, the majority had voted in favor of adding the meme coin as a payment method and Aron had confirmed in an earnings call that it would be implementing Shiba Inu payments in the future. The SHIB community inquired about when they should expect to be able to pay with their coins, but there has been no update from AMC regarding the matter.
Google Pay, Apple Pay, and PayPal were also introduced alongside cryptocurrency payments.
Featured image from Bloomberg, chart from TradingView.com
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