Shiba Inu, Dogecoin and Ethereum holders can now spend their cryptocurrency to purchase electronics, computers, appliances, cell phones, video games and more at the top U.S. consumer electronics retailer, Best Buy, via BitPay gift cards.
Now available! Spend your crypto at @BestBuy with a gift card instantly. Best Buy gift cards now available - spend BTC, ETH, LTC and more easily. #crypto pic.twitter.com/lUPy6mwFAZ— BitPay (@BitPay) August 19, 2022
In a recent tweet, crypto payments processor BitPay announced that Best Buy gift cards were now available for customers to buy with cryptocurrency. Best Buy thus joins the hundreds of brands for which BitPay enables consumers to buy gift cards with crypto.
For now, holders can only spend their cryptos at the Minnesota-headquartered electronics retailer via a gift card, unlike another electronic retailer, Newegg, which accepts direct crypto payments.
Supported cryptocurrencies by BitPay are Bitcoin, Ethereum, Bitcoin Cash, Litecoin, XRP, Dai, Shiba Inu, Dogecoin, Wrapped Bitcoin (WBTC) and stablecoins.
Acceptance of cryptocurrencies as payment gains traction
Cryptocurrencies as payment methods are gaining increasing traction. As reported by U.Today, electronics and computer e-store Newegg added Shiba Inu as a means of payment late last year.
The addition was celebrated with much fanfare and was advertized on the world's largest digital out-of-home billboard in Los Angeles, California. In April of the same year, Newegg announced its acceptance of Dogecoin as a means of payment in celebration of "Dogeday" or "4/20."
In March this year, AMC Theatres, the biggest cinema chain in the world, announced it had finally started accepting Dogecoin and Shiba Inu via BitPay.
Also, luxury watchmakers like Tag Heuer, Hublot and Breitling are now accepting cryptocurrencies via payments processor BitPay. The fast food space isn't left out either. As reported by U.Today, holders of cryptocurrencies supported by BitPay can pay for Uber Eats food deliveries.
Food delivery companies such as DoorDash and Grubhub, as well as takeout restaurants such as Grill, Chili's, Carrabba's Italian Grill, Steak 'n Shake and many more are accepting cryptocurrencies.