Amazon to allow Bitcoin as a New Payment Method

As per the latest news , Amazon may allow cryptocurrencies like Bitcoin as a New Payment method as the company has posted the job on its career portal for a digital currency and blockchain product lead for its payments team.

amazon to allow bitcoin

Amazon is the #1 e-commerce platform as well as the world’s most valuable brand . Jeff Bezos founded Amazon on 5 July 1994 in his garage.

As per latest hiring notification , Amazon is looking to hire ” an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap” for its Payment Acceptance and Experience team.

Amazon may be in a plan to introduce bitcoin as a payment method for its users.

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So, to introduce a new payment method, the company needs to build the payment gateways and the approaches.

The plan to select the cryptocurrency may be pretty forward as the most valuable crypto i.e Bitcoin may be the choice for the start.

The other cryptocurrencies may also be accepted once it starts accepting Bitcoin as the payment method.

There are other cryptocurrencies that may be in the queue such as Etherium , Dogecoin, Litecoin as these are also the popular cryptocurrencies.

As amazon to allow bitcoin as a payment method , there may be a high fluctuation in the price of bitcoin.

Why Bitcoin as a Payment Method?

Satoshi Nakamoto introduced Bitcoin on 3 January 2009 and the trading started from $0.0008.

Bitcoin is the fastest grown digital currency in the world. As Bitcoin’s market price surges from less than $0.0008 to $38,662 , the highest was more than $50,000 .

It is the well known cryptocurrency over the globe and has a market capital of over $7 trillion. The numbers are very huge even in USD.

The price of Bitcoin keeps fluctuating in the market everyday and the trading markets are open 24 X 7. So the price can be high as well as low anytime of the day.

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Many other companies are accepting Bitcoin such as Tesla , Microsoft , BMW and others. So Amazon may also start accepting Bitcoin.

Other Cryptocurrencies that it may accept:-

1. Etherium:-

Etherium is actually a decentralized , open source block chain proposed in 2013. by programmer Vitalik Buterin. Etherium has launched its web applications and also the programming language with its name.

The current price of Etherium is 1,44,304 INR . The price changes every second, so the current price can vary compared to the listed price above as the crypto markets are open 24 X 7.

2. Litecoin:-

Litecoin was launched in 2011 and it is among of the firstly launched cryptocurrencies in the crypto markets.

The current price of Litecoin as in July 2021 is 9,726 INR. This is actually a peer to peer cryptocurrency and open- source software project.

The market cap as of July 2021 for Litecoin is 8.77 Billion USD.

3. Dogecoin:-

Dogecoin was recently in a lot of talks and tweets. The price of the dogecoin changed from 3 INR upto 60 INR in 4 months after the tweets from the well known billionaire Elon Musk. 

The tweets from Elon Musk drastically had the impact on the price of Dogecoin. The current price of Dogecoin is around 15 INR as of July 2021.

The market cap of Dogecoin is $28,676,601,960 .

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One thought on “Amazon to allow Bitcoin as a New Payment Method

  1. Having read this I thought it was very informative. I appreciate you taking the time and effort to put this article together. I once again find myself spending way to much time both reading and commenting. But so what, it was still worth it!

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