Good news for Bitcoin?
Leading online payments company Stripe said it will stop processing bitcoin transactions in April. Stripe, which works with more than , businesses around the world, said it made the decision because huge volatility in bitcoin's price has made it pretty impractical for making and receiving payments.
Related: What is bitcoin? Stripe's withdrawal of support comes on the back of bitcoin's wild ride over the last year or so. Experts say that the violent swings make bitcoin less useful as a currency and more of a vehicle for speculators to bet on its future value. Stripe was one of the first payments companies to throw its weight behind bitcoin, introducing transactions in the virtual currency in early But since then, transaction fees for processing bitcoin payments have risen, Stripe said.
That has made the currency less and less popular with businesses that use Stripe. Related: Bitcoin mania: What the big finance names are saying. Gaming company Steam stopped accepting bitcoin payments for similar reasons in December. However, Stripe said it couldn't rule out adopting bitcoin again at some point in the future. It added that it was also looking into using other virtual currencies, such as ethereum and lightning. CNNMoney Sponsors.
SmartAsset Paid Partner. These are your 3 financial advisors near you This site finds and compares 3 financial advisors in your area Check this off your list before retirement: talk to an advisor Answer these questions to find the right financial advisor for you Find CFPs in your area in 5 minutes. NextAdvisor Paid Partner.
They are almost everywhere, from our local markets to the big banking institutions and more. They have effectively spread all over the world, and have managed to conquer the financial markets on a massive scale. What we have seen in the past couple of years is nothing short of domination, and the fact that the phenomenon seems nowhere near slowing down makes it even more formidable. But while the onset of Bitcoins has been a major event for finance experts and full-time investors, it has also managed to make a lot of other people interested too. Talking of acceptable payments, you would genuinely be surprised to know the sheer number of merchants who are ready to deal in Bitcoins now. Almost every other product can be purchased with your Bitcoins, in addition to even trading them for other cryptocurrencies. Now as the most widely used cryptocurrency, Bitcoin sure commands a good share of the online and offline marketplace. For this precise reason, we aim to explore all such outlets and brands in this article. We attempt to give you all the information we can on where you can spend your hard-earned Bitcoins and also give insights on marketing strategies that will suit you best.
Bitcoin, the digital currency, has been growing in popularity over the past few months -- and a lot of major companies and organizations have been taking notice. Virgin Galactic - The Richard Whatt aviation company started accepting Bitcoin for customers who are interested in flying to space and paying for it using Bitcoin.
The site currently lets users donate to The Pirate Bay using Bitcoins. Reddit - Reddit allows users to purchase Reddit Gold using Bitcoins, a feature they added back in February Sources told CNBC that eBay may be eager to expand Bitcoin support to include paying for items using the digital currency. A Lamborghini dealership in Newport Beach, Calif. The company also wrote shat quickly picked up their second customer using Bitcoin. As the digital currency expands and becomes more better defined by regulators, expect this list of companies that support Bitcoin to be longer and longer.
Namecheap - A service that offers cheap domain registration, among other related services, started letting users pay with Bitcoin in March Lumfile - A free cloud-based file server.
Users have been able to purchase premium services with Bitcoin since December Etsy Vendors - 93 Etsy vendors let customers purchase their products using Bitcoin. Bitcoin Coffee - Get gourmet-quality coffee send to you by simply sending some Bitcoin.
Just put in a name and address and you'll be sent to an online order menu. Pizza for Coins then verifies your payment and places an order within ten minutes.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Markets SYX. Benzinga Benzinga. Benzinga Learn More. Your Watchlist is. Add acceoting Symbol. Add a symbol to your watchlist.
Microsoft’s About-Face on Bitcoin