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Payments March 13, 2014

What 5 Successful Businesses Say About Bitcoin

There’s been a lot of news about Bitcoins all over the web lately. If you’re still on the fence about using Bitcoins for your business, you’re not alone. But as more businesses are taking the leap, perhaps it’s time for you to evaluate it seriously. Why, even Google is looking at how it can start using Bitcoins for it’s payment products; Ebay is taking it’s first steps; and in San Francisco you can even buy groceries with bitcoins!

Businesses large and small, online and brick & mortar, are accepting Bitcoin payments in a major way. We round up some of our favorites, just for you.

OkCupid - Dating portal

OkCupid is a very popular online dating portal. Their goal is to help people find love and has a very large user base. The site is free to use, but the premium features like those that remove ads or allow users to check profiles anonymously, are paid. Back in May 2013, OkCupid started accepting using Bitcoins via Coinbase. OK Cupid CEO Sam Yagan says:

“There’s no question that these digital currencies are going to be the future,” he says. “Whether it’s actually the form of Bitcoins or evolves into something else, we want to be out in front. We want to be the ones who have the experience. There’s a lot to learn.”

Wordpress - Blogging site and software

Wordpress, the world most popular blogging engine, was an early Bitcoin adapter. They tied up with BitPay back in November 2012 to start accepting Bitcoin payments. Their primary aim was to enable bloggers from across the world to use Wordpress’s premium services. In their own words:

"PayPal alone blocks access from over 60 countries, and many credit card companies have similar restrictions. Some are blocked for political reasons, some because of higher fraud rates, and some for other financial reasons. Whatever the reason, we don’t think an individual blogger from Haiti, Ethiopia, or Kenya should have diminished access to the blogosphere because of payment issues they can’t control. Our goal is to enable people, not block them."

Expensify - Expense Reimbursement

Expensify is a global leader in online expense report managing. Many large corporates across the world use Expensify to manage their employee reimbursements. Here’s what Expensify has to say about it’s acceptance of Bitcoins: "We see Bitcoin as more than just a gimmick," the company explained on its blog. "It is a great solution to a real world problem facing businesses today – international reimbursement. We think this is a big deal."

“We recommend as the easiest way for our U.S. clients to buy and sell Bitcoin in U.S. Dollars” --

Cheese Wizards - Food truck

If you thought Bitcoins were only for online businesses, or large firms, think again. Cheeze Wizards is a food truck - or as they like to call themselves “wizard-themed fantasy cheese palace on wheels” - that whizzes about the streets of Seattle. Their clientele is mostly the young technology crowd that populates Seattle.

“We host a lot of smart, tech-savvy people in Seattle, and a lot of the brilliant minds in Seattle share some of our interests: wizards, fantasy, gaming, good cheesy sandwiches, and cutting edge crypto-currency,” Tom Saxbe told GeekWire.

Read more about their foray into Bitcoins at Geekwire.

Pyramid Valley Vineyards

A winery in New Zealand, Pyramid Valley Vineyards, became the first wine business to accept bitcoins in the southern hemisphere. They made the decision in order to make it easier for their domestic as well as international customers to make payments.

“We’re increasingly getting requests from our international customers to be able to pay with bitcoin, particularly for our exclusive Home Collection wines. They don’t want to be worried about exchange rates and costly transaction fees.” -- Coindesk

“We have been surprised with level of interest in bitcoin and the amount of people that are purchasing with bitcoin. In the December period bitcoin sales accounted for 9% of our online sales, which is significant. Transactions are predominantly from New Zealand, with growing purchases each month from offshore customers. -- Coindesk

These are just a few of the businesses that have embraced bitcoins. As you can see, they’re quite a motley bunch. The list of businesses who use Bitcoin is really quite long, and quite encouraging. It just goes to show Bitcoin is not a fad. It’s here to stay. So which side of the fence are you going to be on? We’d love to hear about it. Share your thoughts in the comments.

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