Topic: When Will Amazon (AMZN) Accept Bitcoin? (Read 350 times)

Development costs to create a payment processor is not trivial at a company like Amazon. So the estimated additional revenue would need to outweigh the development costs. Also, although Amazon developers likely spend very little of their time actually coding (developing), they don't have free time in which they have nothing to do, so devoting resources into creating a bitcoin payment processor means that some other project will need to take the back seat.

There is also an additional issue for Amazon to accept bitcoin payments. Most of the time, when I buy something from Amazon, the package will come in an Amazon box from an Amazon warehouse (sometimes, the package will be shipped directly from a third-party seller). In any case, the majority of the time, Amazon is operating only as a marketplace, not unlike the marketplace on the forum (although with many more rules and regulations, and at a much larger scale). Like the marketplace section on the forum, there is a lot of fraud, fake trades, and fake feedback. Amazon has invested a lot into weeding out that fraud, part of which includes forcing everyone who buys on Amazon to provide a real credit card. Allowing people to pay via bitcoin could potentially throw a wrench in their fraud detection models, which could be very costly, even if no fraud happens via its bitcoin customers.

There is no doubt on that. PayPal had its own time too with not allowing bitcoin payment but it finally did. Amazon will come up with it some day just like Apple and other big institutions. Bitcoin acceptance will be smooth and effortless like El Salvador has done.

See we don't need to worry why this big company doesn't accept btc at the time because with time you will see the themselves accepting it when the world recognise it's importance.The speculation could be of volatility like it could directly affect your profits if the price crash like current happen and their profit reserves goes down.

They have their ways like gift coupons on which you can pay with any coin they accept including btc and purchase anything you like but if you want to buy something directly with it then at the time you have to wait for it.There was one speculation in the past regarding it why Amazon doesn't accept it :


So wait for sometime you will see the news that Amazon is accepting bitcoin but till then it's fine and hold bitcoin as it's the best.

Crypto is full of possibilities but have you ever asked yourself is Jeff a fan of Bitcoin? Why Jeff was tight his lips when a lot of people urged the company to accept crypto as payment? Why did they give a specific reason for not accepting BTC as payment when Overstock started accepting it in the year 2014?
I don't know maybe theres a certain partnership or agreement thats prevents Amazon from accepting Bitcoin as payment but something is drawing them back.

I have seen mountains moving at fast pace these days and it will be mere time in which you might see they adoption these modes of payments.They are big business and all they want is profit maximization for which the Bitcoin is best option.They can also go with third party payment processing services like bitpay or any other to accept these payments instead of gift coupons.They can convert it to fiat and have btc payment for customers as well.So there are some ways but yes they will adopt it soon.

It is all about customers and how many of them are going to pay with bitcoin. Imagine a restaurant with regular menu, they don't cook some rare food that nobody would ever order like some weird foreign recipe. If they do (for example buy the ingredients, teach the cooks, etc) they would just add an unnecessary cost that can't be justified in a business.

It is the same with bitcoin payments. Adding the option is good on paper but if only a very small number of people are going to use it (like 0.1% of their total customers) then it is not worth the hassle.
So far the bitcoin adoption is very small and out of that tiny adoption an even smaller percentage are willing to spend their bitcoins. This is why bitcoin payments are still only popular in some niche businesses like where decentralization and privacy are important like among VPN service providers.

It has been stated by Amazon itself that they will not have Bitcoin as one of their payment methods (don't know whether there will be changes or not in the very future.).
At least, they have several times clarified about the acceptance of Bitcoin in Amazon.
Based on the latest news, they only still focus on exploration for always better things for customer shopping, but not for this payment method.
 latest source

Hmm, I'm not quite sure. I imagine it would be beneficial for them to add another payment processor, especially when they were having problems with VISA on the platform, which I do believe has been sorted now. I actually thought that the removal of VISA payments on their platform might actually accelerate the implementation of Bitcoin payments, but it wasn't to be.

Although, aside from development costs, and potentially training support staff to help with any issues or questions, there shouldn't be too many costs, especially if they were to develop their own payment processor.

If I know Google/Amazon like I think I do, they'll want to create their own Bitcoin payment processor so they can cut the middle man out, and rake in the additional fees. It might actually make a lot of sense for them since they are getting paid both for the product, as well as the processing fees that payment processors typically have. However, do that would have some legal implications which they'd have to work out.

I do expect Amazon, and Google as a whole to accept Bitcoin eventually. As soon as they can leverage it like they want, they'll get in on it.

Waiting for Amazon to integrate Bitcoin as part of their payment method is like moving a mountain and if you notice it very well, it was never on their agenda to accept Bitcoin as payment (I don't know why but it is clear that they are not planning to do add it).
Meanwhile, there is alot of alternative means of buying stuff on Amazon using Bitcoin and I don't know why some people can't just make use of it rather than barking up the wrong tree.

It's quite strange though. Amazon should have considered it long ago since volatility isn’t an issue anymore these days due to the different payment processor.
Well, Wallmart will probably consider it very soon as they are planning to join the metaverse eco system. It is also possible that they will launch their own crypto & will allow/force to use that in their eco system.

We won't be able to guess. When? we'll just have to wait, I think even if they don't accept it as bitcoin payments it will still grow to reach new ATH. Although I also know that if Amazon does accept Bitcoin then it is fundamentally good to convince investors to increase their Bitcoin amount. Amazon may have known this but they certainly had a lot of considerations to accept or reject Bitcoin until recently.

Yes, I know that it was a rumour but it was effective for the meme coin as the price appreciated by more than 25% on that day. In my opinion, amazon would not accept any cryptocurrencies in the future too as the problem they will face is in converting cryptos to fiat as countries, where they are operating, have different laws for conversion of crypto to fiat. Bitpay provides a solution here as it enables anyone to make a purchase on Amazon using Bitcoin.

If Microsoft is using a third-party payment provider, it is the payment provider's job to prevent laundered coin from being accepted. This is also the case for credit cards -- it is the job of the credit card processor to make sure the credit card being used is not stolen.

We, Bitcoin supporters, oftentimes think that Bitcoin is already playing a huge role in the world of e-commerce, that it's a significant loss to international companies not to embrace Bitcoin. That is probably wrong, at least for today. It could altogether be different in the years to come. But, for now, let us be realistic and admit the fact that Amazon, eBay, Walmart, and so on do not need Bitcoin. Again, at least for now.

So it is not about price volatility, tax, pseudo-anonymity which could be linked to money laundering, and so forth. It simply is a case of platforms not seeing the need, much less the urgency, to admit Bitcoin to their payment options.

I know we support Bitcoin and have a bias with it. But perhaps it's better to be objective about it and moderate our expectations.

I doubt that "legal concerns" are that big a concern that would prevent addition of bitcoin payment option. After all we have had other big companies in US like Valve or giants like Microsoft accept bitcoin payments.

@Zain Tariq, if Amazon added a Bitcoin payment option tomorrow, would you buy something right away? I believe that you and 90% of all those who own Bitcoin would not do that because for most Bitcoin has never been a currency, but just a way to profit on price volatility.

Your question is therefore at the level of all those irrelevant and trivial issues related to Bitcoin and some globally positioned companies that do not care for that same Bitcoin even 1%. As some others have concluded, there is no profit for them - and the whole world revolves around profit.

Assets in digital form like Cryptocurrency,all we have in our wallets even we can included bank balances all are collectively called Digital.

Actually, you can but not directly. As said, through gift cards like with the service of bitrefill: https://www.bitrefill.com/amazon/?hl=en
But by all means, there's not that much of an issue if Amazon still doesn't accept bitcoin directly. It's their platform, their own rule for their business. The rumor is that they'll make their own coin but it's just a rumor and that's what I've read somewhere so, I'm not sure if that's going to happen in the future.

I know that. I just wanted to say there is a way to do it if the ultimate goal is to spend your Bitcoin. It's not the best way to do it, but it is 'a' way until something better comes along.

Everything boils down to trust one way or the other. If you can't verify the code of the wallet you are using, you are trusting that someone/everyone else has done it properly. You are trusting that the newest update wont come with a serious vulnerability or a deliberate mistake because you wouldn't be able to find that yourself in the codebase. You are trusting that the RNG used to create your seed is strong and sufficient enough even if you can't verify it yourself.   

Rather than news, I would call it a rumor. And, in fact, if you look at the headline, it only talks about considering and it does so in a question. It's the only source that talks about it (other than reddit, which uses that same source).

There have been so many rumors on the subject, that without more data or more sources there is little chance of it being true.