Sunday, May 22, 2022

Amazon to Accept Bitcoin as Payment by the End of 2021

Amazon to Accept Bitcoin as Payment by the End of 2021
Amazon to Accept Bitcoin as Payment by the End of 2021

Do you think that Bitcoin will be the next big form of payment? Amazon may have something to say about it. According to a report, Amazon to accept bitcoin by end of 2021. It’s not an official announcement yet, but they are allegedly working on creating their own digital assets and “crypto-currencies.”

An anonymous insider claims that Amazon is considering accepting Bitcoin by the end of 2021 and maybe venturing deeper into the digital asset industry. London Citywide Newspaper anonymously quoted an insider saying Amazon plans to take bitcoin as a payment by the end of 2021, but this is just news from an anonymous source. According to the source, “This is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work.”

Amazon is working to branch out to cryptocurrency by accepting Bitcoin according to a source. The company has plans on adding other popular digital currencies in the future, such as Ethereum, Cardano, and Bitcoin Cash. The insider said that this decision came from the top of the organization – the founder and executive chairman of Amazon, Jeff Bezos.

Apart from the tip, there is also a job posting by Amazon that surfaced online adding more fuel to this news.

“The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap. You will leverage your domain expertise in Blockchain, Distributed Ledger, Central Bank Digital Currencies, and Cryptocurrency to develop the case for the capabilities which should be developed, drive the overall vision and product strategy, and gain leadership buy-in and investment for new capabilities. You will work closely with teams across Amazon including AWS to develop the roadmap including the customer experience, technical strategy, and capabilities as well as the launch strategy.”

What type of payments accepted by Amazon now?

Amazon currently supports payment methods including the following: credit cards, debit cards, and bank account transfers. However, Amazon does not support payments through cryptocurrencies such as Bitcoin or Ethereum at this time. With all these rumors pilling up, I won’t be surprised to hear AmazonCoin launch very soon.

Amazon to accept bitcoin can be a big step to crypto future:

With the rise of Bitcoin and other cryptocurrencies, it’s not a surprise that Amazon is considering accepting bitcoin as payment. This may be more than just speculation based on an anonymous insider claiming to know about Amazon’s plans for the end of 2021. The company also recently hired someone specialized in cryptocurrencies and digital assets who will help them “monitor regulatory developments around cryptocurrency-related issues, explore opportunities with enterprise partners such as banks or trading platforms, and assist financial institutions in developing customer relationships with these new technologies.” So far this is all just rumors but if true Amazon could become one of the largest retailers to accept payments using cryptocurrency.

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