Cryptocurrencies have been around for close to two decades now. From the publication of Satoshi Nakamoto’s Bitcoin white paper in October 2008, to around 2017, crypto was niche. Then came Bitcoin’s price surge, along with all others, vaulting them into the mainstream as an investment vehicle.
However, crypto’s primary purpose is as a form of currency and payment. Seeing the surge in popularity, some businesses jumped in to start to accept crypto payments. Those early adopters increasingly look to be savvy pioneers as crypto adoption continues to rise.
Major early adopters made a statement
Seeing the rise of crypto, several major businesses jumped to become among the first to accept crypto as a payment method. In 2017, Bitcoin was being accepted by Expedia, PayPal, Subway, Shopify, Microsoft, and Overstock. Pizzaforcoins launched in 2013 and enjoyed a surge of interest in 2017, thanks to accepting over 50 kinds of crypto for its pizza delivery service. By 2021, most of these players were still in the game, while AT&T, Tesla, Starbucks, Twitch, Newegg, and Cheap Air joined the fold.
Why businesses began accepting crypto and how they did so
Crypto rose to fame as an investment vehicle, but that doesn’t remove its intrinsic benefits as a tool for making payments. The technology has continued to evolve, but its fundamental selling points remain the same. In particular, it opens the business up to another audience of customers. Many adopters are keen to use crypto as a form of payment, particularly the tech-savvy ones with disposable income. It offers a level of anonymity and privacy that other methods simply don’t, making crypto very appealing to many online customers.
For business directly, there are a number of additional benefits, most notably lower transaction fees. Currently, because customers find it convenient, businesses are beholden to the networks of the major providers like Visa and Mastercard. Across blockchains, crypto transactions can charge much lower transaction fees. This becomes even more prudent for overseas transactions where exchange rates come into play. The blockchain does not charge extra for cross-border transactions and completes the transactions as swiftly as within country transactions. You can also bundle in the reduced risk of chargebacks, too.
As crypto payments have been so foreign to the established system of payments, integrating them has not been to be straightforward. This is one of the reasons why widespread adoption was held back. To meet demand, better and easier systems were created to help grow and facilitate crypto payments. Today, a crypto payment gateway can offer a seamless and secure technological solution to bridge merchants and customers with transactions recorded on the blockchain. It works by generating a unique crypto address for the business where customers send crypto. Through this, borderless transactions, 24/7 crypto payments, minimal fees, and no chargebacks are unlocked.
What the future holds for crypto payments
The future of crypto payments look to be one of increased usage, particularly with large tech and finance firms like Google and Stripe starting to look into their own blockchains and cryptocurrencies. Around the world, more and more people are holding different kinds of crypto. In 2025 so far, some figures point to the UK as being the fastest-growing country for adoption in the world. In April of this year, it was found that some 24 per cent of British adults were holding crypto of some kind. Some will be sitting there watching the prices, but an increasing number of them will be looking for ways to put the digital currencies to use.
It’s also gaining a lot more support around the world. Knowing where crypto stands in a regulatory sense has long been an issue, but now, the EU and Hong Kong boast sturdy stablecoin regulations. Plus, the US dived in with the Guaranteeing Essential National Infrastructure in US-Stablecoins Act, also known as the GENIUS Act. It all speaks to a state of play that’s much more accepting and facilitating of crypto payments.
With specialised payment gateways now readily available for vendors, the wider crypto audience will find that they can pay with their digital coins at more places, increasing its mainstream appeal and usage.
