With cryptocurrency adoption on an all time high, many firms small and large are accepting Bitcoin payments. The most recent one to accept Bitcoin payments is American rapper Lil Pump’s merchandise store Unhappy.
Shopper have two options, either to pay off chain, this can be done using BTC Lightning Network. Else they can pay it on-chain via a standard Bitcoin wallet. Selecting one of the three options will generate a QR code, after which the code can be scanned to complete the transaction. The rapper has more than 17 million followers on Instagram and 1.2 million followers on Twitter.
The payment platform has been secured with OpenNode. It will convert the Bitcoin generated to fiat currency. This in turn will help avoid volatility. Per OpenNode, lightning protocol is apt, as it helps in instant settlements and reduces costs for businesses.
On March 21st, CoinMarketFeed, reported, Lightning Labs released “ Lightning Loop” for Bitcoin payment channels. The new feature seeks to improvise on the usability of the lightning network. Additionally, users can receive a larger amount of Bitcoin in Bitcoin payments, without the need to open new payment channels.
This initial release is focused on the ability for people to receive with Loop Out. Lightning Loop Out will allow users to increase their receiving capacity by offloading funds from the network, while keeping channels open.
In another news reported by CoinMarketFeed, on April 15, the UK’s biggest travel management firm made an announcement that it will now provide clients an option to make business bookings with BTC.
Several firms and organizations in the tourism and travel industries have begun accepting cryptocurrencies, citing customer demand. In late March, Five-star Dolder hotel and Autohaus Kessel car dealer announced that they will start accepting Bitcoin and Ether payments from May.
The move was strategically taken to enthrall digital nomads, as inevitably more and more people are using mobile and other digital payment methods for payments and businesses. The option is ideal for frequent travellers looking for affordable stays.
On Jan. 30, BitPay entered into a partnership with Wikimedia Foundation to broaden the number of cryptocurrencies that are acceptable by donation.
In March 2018, FIFA Championship hosted by Kaliningrad surprised football and cryptocurrency fanatics with an announcement about accepting Bitcoin payments for accommodation on their visit to Russia during the footbaal season.
Also, in March 2018, Kauai Shores Hotel, Royal Coconut Coast started accepting Bitcoin payments and became the first hotel on Garden Isle to accept the cryptocurrency for reservation. Another firm Overstock.com started accepting bitcoin as payment since 2014.