Even if you possess little knowledge about Crypto Currency the chances are good, you’ve heard of Bitcoin’s meteoric march forward.
According to a leading Bitcoin payment promoter more than 100,000 merchants worldwide accept the currency.
Tech giant Microsoft, travel booking agency Expedia and electronics retailer Newegg also accept bitcoin as a payment method — as well as eGifter which allows shoppers to pay for gift cards to Gap, JCPenney and other chains in bitcoin. Overstock has brought in as much as $5 million per year from the currency, as reported by Bloomberg last July.
“It’s definitely still nascent in the mainstream area, but we are starting to see more firms accepting it, which implies the trend has legs,” said Michael Diamond, director of industry analysis for commercial technology at The NPD Group Inc. “If the big guys are exploring and starting to offer it, more customers are asking for and demanding it, and retailers do not want to get left out in the cold, especially if they have a global presence.”
To Diamond, cryptocurrency’s impact on retail might even be compared to how mobile applications like Uber and Lyft have disrupted the transportation industry. “Once you try it and see that it works, coupled with cost savings, you instantly become a fan,” he said