Amazon Bitcoin: Why Amazon Might Be Getting Ready to Accept Bitcoin Payments.
Amazon has long been rumored to be accepting Bitcoin as a payment method, but it would make sense for Amazon to be hesitant about adopting this new technology. After all, they are the world’s largest online retailer. They could afford to lose a few customers if bitcoin pricing proves to be too volatile in the value of bitcoin disrupt their business model. Despite this hesitance, Amazon may have finally announced its plans to accept bitcoin payments.
Amazon is one of the most vocal supporters of Ethereum – a blockchain based computing platform – and has recently registered three cryptocurrency-related web domains: amazonethereum.com, amazoncryptocurrency.com and amazoncryptocurrencies.com
In addition, given that Amazon is reportedly interested in finding global locations for its second headquarters which will likely have a large tech workforce with an interest in cryptocurrency, it makes perfect sense that Amazon would want to adopt a digital currency as a form of payment.
What is Bitcoin?
Bitcoin is a type of cryptocurrency. It’s basically a digital form of money that isn’t controlled by banks or governments. In other words, it’s decentralized and open-source, which means no single person or entity has control over it. It exists only in the digital world and you can’t affect it with physical things like guns or bombs. But what does this mean?
First off, you don’t need a bank account to use bitcoin. You also don’t need to give out your name or any personal information. You can buy bitcoins from online exchanges and then store them in wallets that are stored on your computer or on the internet through websites like Blockchain.info
Secondly, using bitcoin lets you get rid of transaction fees that come with credit cards and debit cards. In addition, because there is no middle man in transactions made with bitcoin, they happen faster than traditional payments where all parties must wait for confirmation before proceeding.
Why would Amazon want to accept Bitcoin as payment?
One of the main reasons Amazon might want to accept Bitcoin as a form of payment is because Bitcoin is a global currency. There are very few restrictions on where bitcoins can be spent. In addition, bitcoins don’t have the same transaction fees as credit cards or Paypal. This means that it would cost less for Amazon to process any transactions made with Bitcoin – saving them money and lowering their overhead.
Another reason why Amazon may want to accept Bitcoin is because they partner with Tencent – a Chinese based company that has recently started accepting Bitcoin as a form of payment. By allowing their customers in China to pay in Bitcoin, they’ll be providing an excellent service for their Chinese customers while also following one of their largest partners in China who now accepts Bitcoin as a form of payment.
Amazon also has an interest in blockchain technology which is the technology behind Bitcoin. They have been investing heavily into Ethereum – a blockchain-based computing platform – and recently registered three cryptocurrency-related web domains: amazonethereum.com, amazoncryptocurrency.com and amazoncryptocurrencies.com
The future of Bitcoin
Bitcoin is a hot topic these days. You can find articles and opinion pieces about Bitcoin on any major news site, including Newsweek and the Wall Street Journal. It’s estimated that around 100,000 businesses already accept Bitcoin, and with all the hype around the currency, it’s likely more will start accepting it in the near future.
If you’ve been wondering what the future of Bitcoin looks like, wonder no longer! We’re here to help clarify some of the most important points to consider when looking at this new currency.
Bitcoin is all over social media. If you search for #bitcoin on Twitter or Instagram, you’ll find many people tweeting about how they use Bitcoin and sharing their experiences with others.
In an industry where credit cards and PayPal dominate, the implications of Amazon accepting Bitcoin could be huge. Offering a new payment option could be a great way to attract more customers and increase the company’s bottom line.