5 Major Companies That Accept Bitcoin & How Your Business Can Too

As more time passes since Bitcoin’s (BTC) launch in 2009, more people – including investors, government and business leaders, and everyday users – are realizing that cryptocurrencies are here to stay.

Bitcoin’s adoption may be growing, but skepticism remains. Critics cite slow transactions, volatility, and regulatory concerns, making some businesses hesitant to accept BTC. Still, Bitcoin payments are already a reality – many companies, from major retailers to small merchants, have integrated cryptocurrency into their business models.

In this guide, we’ll explore who accepts Bitcoin currently and explain the basics of making crypto payments. 

Why are more businesses accepting Bitcoin?

Bitcoin may not be as mainstream as payment options like credit cards, PayPal, or cash, but it offers business owners distinct advantages. From lowering fees to reaching new customers, crypto payments provide several benefits that can strengthen a company's bottom line.

Lower transaction fees

Bitcoin transactions aren’t free, but they're usually lower than the average processing fees for many credit cards and payment processors. On Bitcoin’s base blockchain layer, transaction fees typically range from $1 to $5, depending on network congestion. Plus, with the Bitcoin Lightning Network, businesses can accept multiple BTC transactions with fees less than one cent.

Global reach

As a decentralized peer-to-peer (P2P) currency, Bitcoin is available wherever there’s internet. Because Bitcoin isn’t tied to any central bank or financial institution, businesses can accept BTC payments from customers worldwide without dealing with exchange rates, banking restrictions, or costly international transaction fees.

Future-proofing

Some businesses adopt Bitcoin to help them stay ahead of the curve, signaling to customers that they’re forward-thinking and open to emerging technology. As crypto becomes more mainstream, accepting BTC can help companies attract a more tech-savvy audience and prepare for the future of crypto payments.

Transparency

All Bitcoin transactions are recorded on a public blockchain, which creates a verifiable, tamper-proof log. This transparency builds trust with customers by proving crypto payments are legitimate and final and simplifies accounting with a clear, unchangeable transaction history.

No chargebacks

Unlike credit card payments, Bitcoin transactions are irreversible. Once a payment is sent, it can’t be undone, eliminating the risk of chargebacks and fraudulent disputes. For businesses, this means no surprise losses from customers disputing payments after receiving goods or services, which translates to greater financial security and peace of mind.

Where can I buy with Bitcoin? Companies that accept Bitcoin 

While Bitcoin isn’t a standard payment option in most stores, estimates suggest that at least 15,000 businesses accept crypto as a form of payment (at the time of writing). Some multinational corporations have also begun welcoming cryptocurrency transactions in select locations or worldwide.

AT&T 

In 2019, telecom giant AT&T partnered with crypto payment processor BitPay to enable cryptocurrency payments. While AT&T doesn’t hold Bitcoin directly, customers can use crypto to pay their phone and internet bills.

Home Depot 

DIYers who invest in digital assets can now use crypto to buy tools, furniture, and appliances at Home Depot. The home improvement retailer partners with Flexa to convert cryptocurrencies into fiat at checkout.

AMC Theatres 

In 2021, AMC Theatres leaned into its "meme stock" status by accepting crypto for online and in-store purchases. Like AT&T, AMC uses BitPay to process payments in Bitcoin, Ethereum (ETH), and Dogecoin (DOGE).

Dish

Satellite TV provider Dish Network started accepting BTC in 2014, making it one of the earliest adopters of crypto payments. BitPay handles Dish’s transactions, allowing customers to pay for monthly subscriptions with digital assets.

Microsoft

Microsoft doesn’t accept Bitcoin for all purchases, but it has allowed crypto transactions in certain stores since 2014. After temporarily pausing BTC payments, the company now partners with BitPay to enable Bitcoin purchases on the Xbox and Microsoft Stores.

Luxury car dealerships and fashion labels

With "When Lambo?" becoming a well-known crypto meme, it’s only fitting that some luxury car dealerships now cater to crypto investors. Along with Lamborghini, select dealers selling Rolls-Royce, Bentley, and Porsche also accept cryptocurrency payments. High-end fashion brands are also following suit, including Gucci, Balenciaga, and Off-White. 

Is accepting Bitcoin illegal?

There's no global legal standard for accepting Bitcoin payments, and each country has a unique stance regarding BTC in commerce. Currently, only El Salvador recognizes Bitcoin as legal tender. Other countries, such as the United States, Canada, and Australia, allow businesses to accept Bitcoin if they abide by local crypto laws and report their transactions to tax authorities. Conversely, nations like Russia, China, and Turkey enforce stricter bans against BTC. Other countries fall between these extremes. For example, India allows crypto in commerce, but the government discourages its use with a 30% tax penalty.

Before accepting BTC as payment, business owners should review local cryptocurrency laws to understand tax obligations, reporting requirements, and licensing rules. Many jurisdictions also require businesses to follow anti-money laundering (AML) regulations, including know-your-customer (KYC) procedures to verify client identities.

Along with legal compliance, maintaining accurate financial records is just as important. Crypto tax software like CoinTracker logs every digital asset transaction and provides a clear audit trail for tax reporting. For personalized guidance, consulting a lawyer familiar with cryptocurrency laws in a specific jurisdiction can help businesses avoid compliance risks when integrating crypto payments.

Benefits of holding Bitcoin as a business

With all the legal considerations and tax obligations, business owners may wonder why anyone would want to accept cryptocurrencies. However, despite the complexities of managing crypto payments, adding BTC to a company’s treasury offers several potential advantages:

• Potential for high returns: Long-term investors buy Bitcoin for its strong track record of price appreciation. While future performance isn’t guaranteed, BTC has been one of the best-performing assets of the 21st century.
• Hedge against inflation: Bitcoin’s value is tied to its limited supply. With a hard cap of 21 million coins, BTC is inherently scarce and will have an inflation rate of zero once the final coin is mined.
• Security from theft: Unlike cash in a centralized bank, Bitcoin carries no counterparty risk. Businesses that store BTC in cold wallets further reduce exposure to cyber threats, provided they safeguard their private keys.
• Portfolio diversification: Bitcoin gives businesses a way to invest in something beyond fiat assets. Unlike stocks and bonds, Bitcoin’s price doesn’t always follow the ups and downs of the stock market. This means it can help protect a business’s finances during economic downturns or periods of high inflation. Holding Bitcoin alongside traditional investments can provide additional security and reduce overall financial risk.

How to make purchases with Bitcoin 

Even though Bitcoin has been around for over a decade, it’s still not the most intuitive way to pay for goods and services – especially for those unfamiliar with crypto wallets. Most businesses have yet to adopt it as a payment method, and unlike traditional payment methods, Bitcoin transactions require a digital wallet. Factors like slow transaction times, fees, and the need to convert BTC into local currency also come into play. That said, there are alternative payment solutions that make BTC easier to use for everyday purchases:

Direct Bitcoin payments

The most straightforward way to pay with Bitcoin is to send it to a business’s Bitcoin wallet. Many merchants that accept BTC provide a QR code linked to their wallet address so customers can scan it with a mobile wallet and complete the payment.

To reduce fees and speed up transactions, some businesses use the Bitcoin Lightning Network, a system that processes payments off the main blockchain before finalizing them later. This allows for near-instant transactions at a lower cost. However, businesses that accept Bitcoin directly must handle their own security and ensure they properly report transactions for tax purposes.

Third-party processors

Some businesses prefer to work with third-party services that convert Bitcoin into local currency, like BitPay, PayPal, or Coinbase. This lets customers pay with Bitcoin while the merchant receives traditional fiat currency. However, these services charge processing fees, and businesses using them are unable to hold Bitcoin as part of their assets.

Cryptocurrency debit cards

For businesses that don’t accept Bitcoin, customers can use crypto debit cards like those from Crypto.com or Coinbase. These work like regular Visa or Mastercard debit cards but pull funds from a user’s crypto account instead of a bank account. Since the card provider automatically converts Bitcoin into local currency before the transaction is processed, merchants receive traditional payments just like they would with any other debit card.

Cryptocurrency gift cards

Some businesses that don’t directly accept Bitcoin still allow customers to purchase gift cards with crypto. Websites like Bitrefill or BitPay let users exchange Bitcoin for store gift cards, which they can then use as regular payments. This way, customers can spend their crypto at retailers that don’t officially support digital currencies.

CoinTracker can help with crypto payments 

If you're a business owner considering accepting Bitcoin, CoinTracker has the tools to make tracking transactions effortless. With CoinTracker Enterprise, you get automated accounting for digital assets, complete with timestamps and cost basis reporting on tax-compliant forms. Integrating with CoinTracker Enterprise is all you’ll need to start offering your customers the option to pay with crypto as easily as they would with cash or card.

Discover all CoinTracker Enterprise has to offer your business by booking a demo today. 

Disclaimer: This post is informational only and is not intended as tax advice. For tax advice, please consult a tax professional.