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AT&T to Accept Payments in Crypto With BitPay

AT&T to Accept Payments in Crypto With BitPay

Bitcoin adoption is still reigning as more and more companies accept it as payments for goods and services. With the way things are progressing, we believe that very soon, supporters of the coin will use it easily. We got a report today that AT&T is to accept BTC from its customers as payments for goods. This company is one of the important figures in the telecommunications industry. By making such a provision to its customers, AT&T is paving the way for more crypto adoption. Well, we can’t fail to commend BitPay for making it possible since they made a deal with the telecom company.

This news is already very great for those who buy Bitcoin. However, others by the side may not understand or appreciate the effects of such adoption yet.

BitPay Facilitates Bitcoin Payments For AT&T Products

It’s through that the telecom company are going to work hand in hand with BitPay to make the transactions easier for everybody. However, we have learned that not all the AT&T products are in the deal. For instance, customers won’t pay for phones or some devices through BitPay. As of now, customers who visit the company’s storefronts will not pay in Bitcoin yet.

AT&T also mentioned that this move was in a bid to satisfy their customers. Many of their clients engage in Bitcoin trading; as such, this is an opportunity to make things easier for them. With this option, customers can use their cryptocurrency to pay for goods online.

Some of the company insiders have expressed the reason for accepting Bitcoin. According to AT&T vice president, Kevin McDorman, the company is always trying out different ways to expand its services. Many of their customers use cryptocurrency, so, they want to offer an option to support their preference.

Also, a spokesperson for the company commented that BitPay is very popular for processing payments on a global level. He pointed out that the exchange has been processing payments for other merchants. Therefore, since AT&T has clients on the BitPay platform, this move will simplify payments for them.

Bitcoin Adoption May Not Results To A Bullish Trend

Many have been speculating that the more merchants who accept bitcoin increase, the likelihood of price surge will increase. However, the reverse may be the case no matter how many merchants accept it. The logic is that BitPay will process payments for AT&T in dollars.

To enable them to pay, the exchange will sell off BTC, and this will create a downside pressure on Bitcoin price. Speculators should realize that using platforms to process payment will push down the price of BTC.

The only time to rejoice about this is when major retailers join the trend and accept direct payments using bitcoin. Then finance their businesses also with the coin. That’s when such adoptions might create a bullish trend.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.