Bitcoin Gets a Warm Welcome From Two Multi-Billion-Dollar Retailers

Bitcoin’s huge popularity is not unknown in today’s time of digital currencies. However, there are many people out there who feel that bitcoins don’t enjoy as much usability in the real world, thanks to its big price point of 4 and sometimes a 5-figure number. But as things are evolving, companies too have started embracing the change. Many companies across the world have begun accepting payments for their products or services in the form of various digital assets.

Latest entities to have embraced this wave of change are Digitec Galaxus AG and Avnet. While the former is an award-winning online retailer company based in Switzerland, the latter is a leading supplier of electronic components based in Phoenix. The combined revenue made by both the companies in the previous year was more than $18.39 billion.

The move will add to BTC’s value

Both Avnet and Digitec Galaxus AG announced their decision of extending support to BTC and other digital currencies on 19th March. Avnet revealed the news through its official website by including an article link which had all the details of their decision.

In order to get started with it, the US-based company will be joining hands with BitPay, a renowned service provider for digital currency payment. The supplier would accept only two cryptos initially – BTC (bitcoins) and BCH (Bitcoin Cash).

On the other hand, Digitec Galaxus AG also disclosed their decision of accepting digital currency payments through their Twitter handle as well as a media post. The company, however, will be collaborating with Coinify for the purpose of processing the payments.

The company which owns both Galaxus and Digitec marketplaces will allow its users to shop via a number of cryptocurrencies including bitcoin, Bitcoin Cash, XRP, Ether or ETH, Litecoin or LTC, Binance Coin or BNB, OmiseGo, NEO or NEO, and Tron (TRX).

As per the reports published on FXStreet, Digitec’s co-founder and CIO Oliver Herren was quoted as saying,

“Cryptocurrencies are fascinating and could become a relevant means of payment in e-commerce. We would like to support this development.”

Digital Currency Continues to Witness Acceptance Globally

We all have come across multiple reports showcasing how the digital currency has been witnessing a surge in acceptance around the globe. In fact, the statistics of enterprises accepting crypto acceptance has increased by 702% since 2013. But for retailers, this acceptance rate has stayed low even in places where cryptocurrencies hold more significance.

So far, the majority of the companies accepting digital currency payments belong to the “developed world”. It has also brought to notice that for regions having access to various established banking facilities and resources, don’t exactly require cryptocurrency. Seeing big online retailers embracing crypto payments is a pleasant change for the crypto community, but that alone will not guarantee that more people would actually start using it.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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