Bitcoin Forum

Amazon is the largest e-commerce company in the world. All their products are built on developing and enhanced technology. Since its inception, Amazon has always fostered a positive attitude towards new trends and the latest technological advances, this is because they are part of the internet revolution, a revolution that can only be won by being optimistic about technology.

So, why hasn't Amazon adopted Bitcoin?

Let's see this way, Bitcoin praised the Amazon package very well. Amazon has an international reach and allows people to buy products from sellers in countries from all over the world.

Part of the Amazon revolution is the shrinking of the earth, which means people can buy products internationally at lower prices and send them in a short time.

As is well known, Amazon only supports payments through FIAT currencies and traditional banks, this can slow down the payment process and means that merchants are charged. But using Bitcoin will erase, both of these problems.

In addition, the use of Bitcoin will also allow Bitcoin investors to access the giant platform wherever they are.

Problems that hinder the adoption of Bitcoin

The problem here is because of the lack of regulation around Bitcoin, not because Amazon is afraid of Bitcoin or because they are afraid of a lack of regulation, but this seems to be an Amazon case that is too big to adopt a product that can eventually fail.

If a company the size of Amazon continues to adopt Bitcoin, it will cause a massive surge in asset popularity, which can ultimately put Amazon or Bitcoin at risk. I think the message here is that Amazon is not afraid of Bitcoin, they just haven't accepted Bitcoin and are still in advanced studies.

Will Amazon adopt Bitcoin?

We know that Amazon, among other giants like Facebook, is exploring blockchain technology. When crypto is becoming more mainstream and when Bitcoin becomes more mature we can begin to hope that companies like Amazon will start accepting Bitcoin payments, maybe now, adoption is not safe enough for e-commerce giants, and this is to protect their customers.

the main reason is about applicable regulations. and both visa, paypal, and others, they certainly won't let this work. if bitcoin can be used, they will lose huge profits. so even when all countries have accepted and legalized bitcoin, not necessarily e-commerce like big like amazon, ebay will use it.

I agree if the main problem of Not Amazon has been adopted by Bitcoin as their payment option is regulation, but if it is associated with other vitual money payments such as paypal or payoneer it is the competition they have to face in the financial industry. Moreover Bitcoin still requires third parties to withdraw their funds into traditional money as a daily necessity.

the biggest problems is first the people who are not that willing to spend their bitcoins and any big business like Amazon that is already working fine without any issues and is making tons of money don't see the "need" to go through all the trouble of adding a new payment method for a highly volatile currency that sometimes also has a high fee.
and second is that they don't feel the competitive pressure yet. for example if something like Open Bazaar grew big enough to threaten their business by taking a big portion of their customers and merchants then they will start panicking and thinking about competing.

The reason for this is purely regulations. I'm sure we'll see that Also Amazon will accept Bitcoin in future. I don't even think it's going to be just BTC, maybe they could even create a new currency with loyalty awards.

I think the main reason is that not enough people will be using BTC to make their purchases and its not worth the hassle spending millions in coding and another million to train the support staff when issues arrive.

Most people who buy on Amazon will buy it anyways on Amazon so they will get paid anyways. If they added BTC the sales wouldn't increase by much.

Sites like Newegg accepted it because most of their customers were computer savvy and a larger percentage of those were actually miners. So it made sense for Newegg. And many miners probably ordered from Newegg just for that reason instead of another computer retailer. So they gain business actually instead of Amazon which would retain that same customer in the first place.

why would they adopt bitcoin? is there some evidence that many people would be interested in using it---enough to justify the costs? or is it only a niche of crypto holders who want it because "amazon adopting bitcoin" will pump the market?

i agree as of now big company is just playing safe and just waiting for assurance until it become mature to protect their customer

Just like many institutional investors, Amazon is taking its time in evaluating how BTC could be profitable through a proper set of regulations in the long term. It seems like Facebook preparing to dabble with crypto has caused the recent surge.

Amazon might follow suite if Facebook's experiment proves to be successful over time. It remains to be seen whether they adopt BTC or come up with their coin in such a scenario.

If they determine that Bitcoin would be good for their bottom line, I'm sure they'd hop on in a heartbeat. It's probably not worth the hassle right now.

Another major factor that I see is that people might be wary using Bitcoin for services like theirs because it robs them of the ability to chargeback if things go south.

You Said it all.

scalability, speed maybe? I believe that stellar would be a better choice for e-commerce.
but I also think the lobby and regulations could make many stores accept the facebook coin in a near future.

Nope, Amazon makes a lot of things which have nothing in common with enhanced technology like bed sheets and baby diapers.


Whatever you say ... ;D


Nope, visa transactions are nearly instant, and with Bitcoin the consumers are going to get charged as they will have to pay the tx fee.
Secondary, a lot of people forget that if you pay a merchant via BTC the merchant has to collect the coins from the address you sent, and that is another fee.


You've never heard of FirePhone (https://en.wikipedia.org/wiki/Fire_Phone), right?


Why?

this can't be the reason, at least not the only one or the biggest one.
simply because there are already other big companies that have adopted bitcoin. for example Microsoft has been accepting bitcoin payments for many years now! if there was any fear of lack of regulations then others would have also been worried.

Facebook is not exploring blockchain technology. facebook is exploring ways of making more money from a hyped up situation. what they created is no different than a bank or any of the online processors such as Paypal.

Amazon is huge E market worldwide,due to unclear regulation about bitcoin by different different jurisdiction Amazon not adopting payment by bitcoin. If facebook will launch their cryptocurrency there is huge probality that amazone will also come up with the similar plan as amazone is already involved in blockchain technology with their AWS platform.

Should Amazon's adaptation be related to Bitcoin? Or is it about Blockchain?

Amazon will sooner or later provide integration to use a system on the blockchain. But there is no Bitcoin integration. I'm not sure how possible it is by US law if you accept Bitcoin as payment.

Honestly, I do not care if amazon accepts or does not accept bitcoin as a means of payment. I never bought anything in amazon. But I would be happier if I had a bitcoin debit card and made purchases in my country. if in my country all merchants accepted bitcoin as a means of payment would be something very good.

There's no reason to accept BTC.

It won't encourage more custom. It will cost them more in hassle and support dealing with problems.

The only people who want it are existing BTC hoarders who want other people to spend to make them feel good about themselves.

No reason whatsoever to adopt bitcoin into their systems knowing that traditional payment methods are working well for them and their merchants and honestly, not a single thing would ever change for the company even if they decided to use bitcoin the next day. This is not being pessimistic, this is just being frank of the things at hand. I also love large retailers and merchants accepting bitcoin but with the current state of the said cryptocurrency, most are just busy speculating and making profit than using it as such, and I'm pretty sure Amazon doesn't want the hassle of having to convert coins into cash and losing potential profit along the way.

maybe for the same reason why majority of the world has not yet adopted bitcoin and we are still at about 1% adoption even after 10 years of growing market and increasing popularity. it has been slow for everyone so it is understandable to see a big business like Amazon be hesitant to jump on board of something that is not that popular yet.

I think the main reason is the price fluctuation if they sell a service or product and has a price and price of Bitcoin drop they will lose and maybe a second reason is the confirmation time.

Technologies like bitcoin is mostly adopted from companies that are chasing the competition.
Amazon is the largest company in the world and the richest. They don't need to change anything in their operational model. They work perfectly and this is depicted on their sales and profits.

Amazon doesn't need to adopt bitcoin.  They already sell many gift cards for bitcoin @ egifter.com and gyft.com (Amazon just recently removed from GYFT.com)

I'm sure that they are still planning to adopt it but still undergoing some trial and error strategies. They're still in the process of trial and error. Time will come that there will be a way for them to accept Bitcoin despite it's regulation.
It's an advantage for amazon if they will accept btc so I'm sure that they will accept it in time.

I understand the issue of regulation is playing a major set back in Amazon adopting the bitcoin, I equally think the big banks fear their profit may drastically drop and they could be troubled from the revenue drop in customers abandoning fiat because of high fee and too many limitations and TAT. Politics of power and money at play in our financial system.

I am certain that amazon and other E commerce sites will start accepting bitcoin eventually because it opens up international trading with ease without any headache of cash backs for the merchants and bitcoin is the only answer to get rid of the charge back headaches and other disputes in the future, if i am speculating, the main reason i think for getting delayed is that bitcoin still needs to scale for much bigger transactions for them to accept it and the volatile transactions charges might be the reason and once lightning network is adopted, then they might open a channel and start accepting bitcoin. :)

I respect Amazon's decision. If they are still on the exploring stage then I bet they are now on a phase where in they are reconsidering it as a payment. I wonder, what took them so long to accept bitcoin payments. Many online stores now and many merchants are now adopting this kind of digital currencies. Maybe it isn't enough or they are seeking strong research results or survey on how did bitcoin payments become beneficial to their business.

maybe in my mind regulation is the reason why Amazon hasn't adopted bitcoin. bitcoin is not easy to be used as a transaction tool if the state is regulating and it may be one of the main causes of this.

Bitcoin has long been perceived as having a value too volatile for online merchants. However, if the Facebook Libra coin encourages mass adoption of cryptocurrencies, it could spur online merchants to start accepting them.

Either of two things must happen for bitcoin to be accepted by more online merchants: (a) its value must stabilize or (b) enough people must use bitcoin that not accepting it as a form of payment will cost Amazon and other online merchants significant business.

We may find both of these scenarios coming to fruition in the coming years or within a decade at least.

In my opinion that is not a consideration that will be used by Amazon to refuse adopt bitcoin as payment. in my opinion the reason for regulation is a major consideration for them, imagine if Amazon is prohibited from being accessed in many country just because they adopts bitcoin

Way more to gain for facebook to take this road. All the user date they can add to there list will be tremendous. Of course it will be sold.

The lack of proper regulation is also the cause why ETF isn't approved by SEC. Right now I have read a crypto news blog that facebook Libra is being stopped by the government to continue its development. Amazon knew this too well that they didn't tried getting into crypto. Facebook is just bold enough after all they are friends with the  state government, I'm pretty sure the Libra development will push through.

Well, firstly, Amazon is not always as international as it may seem. I had multiple times when I wanted to buy something from Amazon, but the shipping was limited to the US area or something. Moreover, their shipments can be very costly, and it adds a solid sum above the thing you buy (especially if you want to buy something not very expensive, like a book. As for why Amazon doesn't adopt Bitcoin - I think Amazon is supporting the traditional financial system and vice versa, you know. Accepting Bitcoin is accepting decentralization, supporting financial freedom and dealing with volatility. Plus, it's probably getting into conflicts with banks and other fiat-related institutions, because Bitcoin is the enemy for them.

Yep, I doesn't ship in my country. I have to go to alibaba to buy something that can actually reach my doorstep yet even them doesn't alway allow it. The first time I go into AMAZON they were only selling online book but they have grown so much and I can already find computer accessories, they always extend to new ideas which is why its surprising, facebook lead the way to make crypto more popular.

When regularization of crypto will be done, I guess we can expect Amazon to also create their own coin.

There are many points Amazon needs to aware of like if a user pays in Bitcoin and then request for a return Amazon has to pay the fees from their pocket which is not what Amazon wants. Or Amazon will be unable to identify users because then you pay from a bitcoin address your lack of information can put Amazon at risk they have 3 life on your account details rather than the sender details.

Since other tech giants like facebook are now focusing on blockchain technology and crypto currencies, there is a high chance, Amazon will do the same. Just give it some time. In the mean time, others who wants to spend on Amazon using bitcoin indirectly, the best way would be buying Amazon gift cards using crypto currencies and then using those gift cards to purchase goods from amazon.

Completely centralised finance system regulations is a reason still Amazon waiting to accept bitcoin as a payment mode. You are adding me payment gateway ap is a very simple matter for Amazon team.
Since Bitcoin is a decentralized cryptocurrency they are looking for best option to add it soon.

Why Amazon should start to add Bitcoin to its system? The demand from people is too low to even care about it. It won't bring enough new customer nor increase their sale. It's not Amazon that needs Bitcoin, it's Bitcoin that needs Amazon. Not even talking about the problem when it comes for USA consumers, not even talking that Amazon has already its own payment processor, so they surely would prefer to work on something to make it more used instead to add something else. And it makes sense

As long as the majority of their transaction is made using the traditional way, I dont think they will adapt or add Bitcoin as form of payment in their site. However, Amazon may start observing how the market reacts in Facebooks Libra. Who knows, maybe Amazon is also working on their own coin.

I would think with a company as global and standardized as it has become to everybody who sees their name they have no use to put bitcoin as an option accepted to perform payments for their products offered.
They want to hold all the power and I think if they start to accept it then bezos will see in a way he is not in total control and thus does not hold all the power.
Big businesses such as this see bitcoin as a threat to their business even though it is not. :-\

Amazon actually bought a bunch of cryptocurrency domains according to whois. In 2013 it bought the amazonbitcoin.com and in 2017 it bought a couple more. It's mainly for strategic reasons that they do it so if bitcoin does become huge, they can still be on the forefront. I would venture they stand more to benefit from stablecoins though.

Source - https://www.coindesk.com/amazon-subsidiary-registers-3-cryptocurrency-web-domains (https://www.coindesk.com/amazon-subsidiary-registers-3-cryptocurrency-web-domains)

Also, one of Amazon's competitors - Overstock - also issued Ravencoin, which is a PoW similar to BTC. Overstock's team is very bullish on cryptocurrencies as a method of payment and differentiation in the ecommerce space.

Currently, there's ways for people to purchase amazon gift cards just with BTC through Bitrefill as well: https://www.bitrefill.com/gift-cards/?hl=en (https://www.bitrefill.com/gift-cards/?hl=en)

amazon has become a global phenomenon. it is in no hurry to accept bitcoin knowing bitcoin can go to the moon. maybe amazon is giving the mass public to be aware of blockchain technology. amazon will accept bitcoin maybe in 5 to 10 years . by then digital money is truly here. as of now its mass accumulation of bitcoin before jeff bezo papa accepts bitcoin.

I agree with this point of view. But I believe they will integrate bitcoin in the future also, once they see that mass adoption is already huge. Because if not, they will be left behind. As of the moment, they are not into it but more than likely they are already studying crypto behind the curtains. As you said, maybe, it's not yet time for them to accept crypto as they might lose a lot of money by doing so. But I think, it is already in their pipeline. A go signal is just needed to include crypto in their payment system.

Maybe if Amazon accepts bitcoin then there will be some big companies like visa and mastercard will be harmed because there are no more consumers who shop using the services they provide, besides if Amazon accepts bitcoin then they will also not be used by people living in a country which prohibits the use of bitcoin, obviously it will not be so profitable they will choose to use conventional payment methods using a credit card.

It would be a great news for bitcoin hodlers but it never make a good outcome to the staffs and sellers in amazon. The volatility of bitcoin is the main reason why there are many companies staying away from it. The excessive ups and downs of it may cause a dilemma to the companies and wage earners also. Just like in amazon wherein we can't predict the price or upcoming price of bitcoin.

Well, they might have other reasons. We know that there are some transaction fees and in terms of an online shop, you must be used by that. Imagine if you are owning an online shop and a lot of people ordered but then they want a refund, what you will do is to return the payment they paid you, though as I said, the fees will be a problem. You did not just lose via refund you also lose a fee, it will be better if that is just few, but they are not.

Amazon has an international reach and allows people to buy products from sellers in countries from all over the world. Part of the Amazon revolution is the shrinking of the earth, which means people can buy international products at lower prices and send them in a short time.
As is well known, Amazon only supports payments through FIAT currencies and traditional banks, this can process payments and means traders need money. But using Bitcoin will be used, both of these problems.
In addition, the use of Bitcoin will also allow Bitcoin investors to access giant platforms wherever they are.
If a company the size of Amazon continues to apply Bitcoin, it will cause a massive surge in asset popularity, which in the end can use Amazon or Bitcoin in influence. I think the message here is that Amazon is not afraid of Bitcoin, they just haven't accepted Bitcoin and are still in advanced studies.

because there are still few people who will use it. bitcoin might be good, but not everyone can use this. there are still many obstacles such as regulations and others. so maybe that's what Amazon thinks. and you know that even though bitcoin will be legal, people still use mainstream payments rather than bitcoin because it's easier.

I do agree that primary reason why big merchants like Amazon are not moving to BTC are regulations. Governments all around the world will only allow crpto in there regime if they are under there control i.e. regulated. Moreover, too much price fluctuations is another reason of not accepting BTC.

Probably because amazon is an evil corporation like walmart was in south park ^^


No regulations are the excuse they use. They most likely have some deal with paypal and get some commission from them. Remember PayPal has insane fees and they must share it with Amazon. It makes sense. So logically this makes bitcoin or any other currency crypto or otherwise the enemy.

the same reason why most companys wont adopt btc, the price jumps to much , both up and down heck it lost 90% of its value last year no company is touching something like that,

we know that Amazon is a big e-commerce company in the world, the reason Amazon doesn't accept BTC payments is that regulation of BTC is still low, and Amazon has a perception that Fiat and traditional banks still have a high level of popularity compared to BTC.

Paypal, Payooner, and other payment methods do not work together personally with Amazon, so why does Amazon protect PayPal from the threat of Bitcoin? I think that is not the right reason, I agree more with the reason for regulation, paypal and other payment methods accepted by Amazon because has a legal law, while bitcoin is not

The first obstacle is regulation and the other obstacle is bitcoin is not feasible to be use as payment system, I think these is your mean, right? The user of bitcoin will find a thousand of times if they use their bitcoin as payment system. Volatility price is main thing that should be considered, they will hold it to gain money and if they will buy something they will use the profit result from their investing or their trading. Also the fees per transaction is still high at the moment, it's impossible if we buy something the fees transaction is more than expensive rather than the price of stuff.

I guess the inflation is going to be one of the reason is that they only they want is profit from the sales and the fiat accepted by all. If I were them I would start accepting after all, BTC is just too huge to fail. It somehow starts to sound like a household name. If they are going to do this I guess they will have to conduct consensus to their sellers whether to accept or not. Probably seen it already that those sellers prefer the stable fiat.

Bank account is full.

Tax reasons.

The reason may also be that Jeff Bezos is a talented entrepreneur who understands that instead adopting Bitcoin, he can launch his own digital currency for payments on Amazon services. Many companies want to launch their own cryptocurrency, I think Amazon may be one of them.

Amazon has to pay salaries for its employees. If Bitcoin falls critically, how will they do it? It will affect the efficiency of the company work and the wages of people negatively. Amazon is not going to take risks.

Bitcoin is not regulated!
Thats why.

Amazon like many other bigger retail think of safety of their reputation and still thinks Bitcoins is not legalize hence won't have anything to do it. But if it is adopted like other e payment like paypal, It would have receive amazon's endorsement.

It seems to me that every businessman thinks about how he should report to the state on his incomes.  If the cryptocurrency is not legalized, then the business will not be able to accept Bitcoin.  This situation must be radically changed and the problem solved at the international level.

There are big stores that accept bitcoin. There are also big shopping centers in Japan and Korea where you can buy things with your bitcoins. I don't think it's just about regulation. It could be about the risk involved. There were a lot of scams and hacks and adding bitcoin payments could make the amazon payment system more vulnerable or at least this is how the management sees it.

If you want to buy stuff on Amazon you can buy a gift card with bitcoin and charge your amazon account with it. It's more work than buying stuff directly but not very hard to do.

I think Amazon announced way back last year about their willingness to accept bitcoin and maybe other cryptocurrencies as payment methods but i believe the huge volatility of the crypto market is causing all these delays. However they can also choose to settle for stable cryptocurrencies such as TUSD, USD Tether etc.

The current legal status of bitcoin is the main concern and of course its volatility, its hard to use bitcoin if it continues to pump and dump maybe if Libra coin succeed they will soon use it. I also believe that someone in Amazon is investing on bitcoin, they can’t just ignore the potential of cryptocurrency do maybe they are also investing for different purpose.