Daily Archives: March 12, 2017

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Some Top Companies Accepting Bitcoin

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Some Top Companies Accepting Bitcoin

Since Bitcoin’s inception 8 years ago many merchants and retailers have warmed up to the currency and use it today. This article will list the 5 best places to spend your Bitcoins.

Dell

Dell started accepting Bitcoin in 2014, it is one of the largest personal computer companies in the US. Dell’s Bitcoin payment option is integrated with Coinbase and it is built right into the checkout page. When you’re ready to make a purchase, add your items to your cart, fill out your shipping details and choose Bitcoin as your payment method. After the order is submitted, you’ll be taken to Coinbase to complete your purchase.

CheapAir

                

Cheapair is a New York based company founded in 2005. It provides a service similar to Expedia which allows you to book flights and hotels. They first started accepting Bitcoin in 2013 and have never stopped since. Just like with Dell, Cheapair’s bitcoin payment system is integrated straight into their checkout page and is powered by Coinbase.

Overstock

Founded in 1999, Overstock is one of the largest American retailers based out of Utah. It offers a variety of products ranging from home decorations to computer hardware. The checkout process is similar to Cheapair’s and Dell’s and is integrated through Coinbase. When the company first started accepting Bitcoin in September of 2014 it because the first major retailer to accept Bitcoin.

In fact, Overstock’s CEO was so intrigued with Bitcoin that he decided to take it a step further by opening up his company’s stock to be publicly traded on the blockchain. As a result, they also became the first publicly traded company to issue stock over the internet.

Steam

Initially released in 2003, Steam is a digital distribution platform which offers a variety of PC games to more than 89 million gamers. It is considered the largest video game distributor owning roughly 75% of the market. It first started accepting Bitcoin in April of 2016 as they partnered with Bitpay. The checkout process is just the same, you simply select the Bitcoin payment option and Bitpays API will take care of the rest.

One potential reason that Steam partnered with Bitpay rather than Coinbase is because Steam has a higher focus on international users while the companies above focus on the domestic market. While Coinbase might be one of the more compliant companies in the US, Bitpay has a smoother integration overseas.

eGifter

eGifter is a New York based company founded in 2011, the youngest company on this list. The reason it ranks so high is because it opens up an opportunity to spend Bitcoin and dozen more places. eGifter provides a gift card buying and sending solutions to users and businesses. You can purchase a gift card for yourself, for a friend, or you can even start a group gift.

The best part is that eGifter accepts Bitcoin! Some of the stores that you can purchase gift cards for include: Amazon, Target, eBay, Adidas, Dominos, and much much more.

Chuck Reynolds
Contributor

Alan Zibluk – Markethive Founding Member

Markethive

Bitcoin ETF Rejection Reinforces Faith in Cryptocurrency

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Bitcoin ETF Rejection Reinforces
Faith in Cryptocurrency

When SEC announced the rejection of Bitcoin ETF, a huge drop in Bitcoin price was expected. But nobody expected a sudden recovery soon after.

Bitcoin ETF or Not.

Bitcoin ETF easily qualifies as one of the “buzzwords” of 2017. The much-awaited SEC ruling on Bitcoin ETF left many people disappointed after the regulatory body weighed against it. However, the incident has also presented Bitcoin in a new light.

Bitcoin price is known for its volatility due to various influencing factors. These external factors fuel speculation, driving demand against supply. As the cryptocurrency matures, the room for speculating is gradually reducing, and need-based demand has taken over the driving seat, influencing Bitcoin price.

The renewed interest among investors in light of the potential approval of Bitcoin ETF by the SEC was considered to be the reason behind increasing demand in the recent days. It was also predicted that the failure of ETF approval would lead to a massive drop in demand, driving the digital currency’s price down by hundreds of dollars. When the SEC announced its decision, people were expecting the cryptocurrency market to face a huge shock which might take a while to recover.

These speculations partially came true. Bitcoin’s price following the SEC announcement fell by close to $200. But surprisingly, the digital currency price recovered soon after to reach close to the earlier held levels. The quick bounce-back wasn’t expected by many people, just like the time when the Chinese government cracked down on the country’s Bitcoin platforms. The effects of external factors on Bitcoin price has reduced drastically in the past few months, showing resiliency.

These two examples — Chinese market volumes and Bitcoin ETF, were both expected to have a long-term effect on the digital currency. But thanks to the active community, effects were negligible, which has, in turn, increased the credibility of Bitcoin. The cryptocurrency has proved to be more stable than ever, giving it a chance to grab the “mainstream currency” title.

The failure of SEC to approve Bitcoin ETF may have proven to be more beneficial for Bitcoin than expected. The cryptocurrency has gained the faith of people, irrespective of whether they are part of the Bitcoin community or not. It will help Bitcoin further expand its community and emerge stronger than ever. Eventually, it will also influence regulatory agencies to approve the use of Bitcoin like any other currency.

Chuck Reynolds
Contributor

Alan Zibluk – Markethive Founding Member