Amazon May Start Accepting Cryptocurrency Payments This Year


E-commerce giant, Amazon may soon start accepting cryptocurrency payments as the firm is looking to hire a Digital Currency and Blockchain Product Lead. This comes after news about an insider reporting to the London business newspaper called City A.M, that Amazon is planning to start accepting Bitcoin (BTC) payments at the end of 2021.

Amazon is an internet-based enterprise that sells books, music, movies, housewares, electronics, toys and many other goods, either directly or as a middleman between other retailers and its millions of customers. Being an internet-based enterprise, it comes as no surprise that the e-commerce giant would be exploring the option of payment through an internet-based currency.

The initial source stated, “This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future. This is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work.”

The source indicated that while Bitcoin is the first step in Amazon’s cryptocurrency ambitions, executives at the company intend to add other established cryptocurrencies in the future. This means that just like Tesla, Bitcoin will be the first cryptocurrency that Amazon will accept.


SOURCE: nairametrics

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