Topic: When Will Amazon (AMZN) Accept Bitcoin? (Read 347 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.

I am not sure about Bitcoin but if this news is correct then Amazon might be considering to accept SHIBA INU for payment. You can read this news here - https://watcher.guru/news/amazon-to-accept-shiba-inu-as-payment-shib-alike-dog-seen-on-amazon-day-page

This might be a coincidence but if it actually happens then this meme coin might rule the market in 2022.

Actually they can if they wanted too. Maybe they are more concern with the regulations with the SEC bitcoin are intact with. Regardless the price is volatile, there are ways on how to set the terminal payment for its real time value in which the price will be used and deducted from bitcoin is on par with the market value. Yes it could be the reason that its volatile. Seriously, why not use fixed one crypto like stablecoin right? Isnt it much better.

At the moment they don't directly accept btc payments but you can go through any third party payment processing services like members have mentioned.There were some rumours in the past about Amazon accepting it but later no signs of it.But it can be accepted that at growing pace of adoption they might come into support and directly accept it as mode of payment so till then let it the way it's going.

Buying gift cards via bitrefill (or any other site) is not the same as using bitcoin directly at the merchant. Buying a gift card via a third party means you have to trust the merchant, the third party (and any third parties the entity you are buying from is using to procure the gift cards).

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I don't see Amazon accepting bitcoin in the near future. They are not a change maker. Amazon does not innovate, they do things at scale that allow them to undercut their competitors. Amazon will not start accepting bitcoin until its competitors start accepting bitoin, and this becomes a competitive disadvantage.

They will start accepting bitcoin when the number of people who are spending their bitcoins passes a threshold that justifies adding the new payment option. Otherwise if they add it and very little number of users paid with bitcoin it would be a waste of resources and an unnecessary headache.

What is a "digital acid"?

It's a gradual process, and I don't think because we are Crypto-currency enthusiast we should force business owners into adding crypto-currency into their medium of payment it should be by choice, let's say those companies hasn't yet fully accepted they need Bitcoin and crypto-currency added, but with time and as the world continuously changes, I strongly believe they would come around.

Are you not aware that Amazon doesn't accept any transactions with cryptocurrency and especially bitcoin in particular. So Amazon seems Bitcoin from long time like a currency that's use for embezzlement of funds and also shutcut for money laundering, so they management doesn't encourage or embrace their transactions with bitcoin irrespective of how broad or large the transaction is going to take. They are against bitcoin right from the introduction of bitcoin, and is very obvious.

I think somebody on this forum recently posted that Amazon is looking into handling crypto, or incorporating it one way or another. You have to keep in mind that Amazon is a behemoth of a company, and any major changes tend to be slow, and sometimes it turns out adopting something like crypto could be really far down the line (in terms of general crypto adoption). This seems like an important thing that could define a company's image and reputation and they want to figure out every nook and cranny before they venture into it. This isn't just listing a couple of books in your online librari.

Look, Amazon is the biggest company in the world, and theyare always looking for opportunities to generate money or profit. They didn't take any decisions suddenly or fast either. Before taking any decision, they obviously have meetings after meetings. And Amazon is a company that always invests its income in marketing and making new business models. So because of their marketing investment, they show a very low profit margin, and if I am not wrong, Amazon is a company that pays tax roughly because they show their profit margin very low. In that case, if they accept bitcoin as their payment system, they have to face 2 types of problems. First, though their market is globalized, some countries accept bitcoin and some countries do not. In that case, they have to separately offer the system for those countries' payment methods: crypto payment or non-crypto payment. 
 
Another problem is tax. If they accept payment in crypto, then they have to pay tax in 2 categories, like as an e-commerce company tax and another one is crypto tax, where they have to spend double the cost. 
 
3rd because of the volatile bitcoin price. They generate nearly $200 million in revenue by selling products at bitcoin high prices.However, at the end of the year, the price of bitcoin dropped by 20% to 30%, and they went from 200 million dollars to a loss.Then they might face a loss because they have to pay the seller in fiat. But if the price goes up, then you might get a profit. 
 
As a crypto member, we know anything can happen in crypto. 
amazon might be thinking this types of things. They might be think to accept bitcoin or crypto in future because we know crypto is future, And we believed it. Thank you.
 
 
 
 

The number of people that own(or better yet, actually use) bitcoin is just so minuscule that they really don't have that much incentive to add it. Not to mention that while I'm not totally sure how Amazon works as I'm not from the US, it might give them some trouble due to stolen bitcoin potentially being used to purchase stuff from them.

It might be quite a lot of downwards pressure on the market unless those companies find someone to shift the coins to otc (ie if they're just sold on market over the day).

There's also probably not enough thought gone into it and the ways they can make money from it yet (that'll probably happen in time though - especially since parts of PayPal have accepted custodial holdings of bitcoin).

I think because Amazon has markets in different countries am certain that they irst trying to establish the legal standing of cryptocurrencies in these countries and once all have the green light to have crypto then i see amazon opening its doors to we the crypto users and most possibly accept crypto especially that one of its competitors newegg has intergrated some crypto into its ecosystem.
For now its a waiting game.

There is a way around that and that is through Bitrefill.

Amazon doesn't accept Bitcoin, but you can purchase an Amazon gift card with Bitcoin in various amounts.
There are some for eBay as well.
Bitrefill doesn't seem to have any for Walmart though, but if this retailer offers gift cards, I am sure you can purchase them somewhere else.

May be because of adoption reason, they will not have option with time if many customers are asking for it. I do not have problem with this because I use fiat to buy. I prefer to save bitcoin unless I do not have enough fiat. These companies are only looking for ways to earn money, this will be in their among their plans but it will remain for them to get the pros and cons before making any move.

I'm not sure if price volatility is the reason since there are many payment gateways that allow accepting BTC payments and transferring them directly to your bank account.


This stopped being a problem for people for some time now, especially with the increasing number of gift cards providers and bitcoin debit cards.

Why Biggest E-Commerce’s platforms (Amazon,e-bay,walmart,etc)are still not accepting the biggest digital acids BTC,why they are not giving us the payments methods for crypto currency?why shoppers can not enjoy online shopping with paying cryptocurrency?
I find some Answer its may be due to rapid change in the price of btc or may be something else