What is the reason Amazon hasn't adopted Bitcoin?

[Dunmer_Juib]

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

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

[1714818265]

1714818265

[1714818265]

1714818265

[1714818265]

1714818265

[1714818265]

1714818265

[1714818265]

1714818265

[bitcoinsc]

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.

[Twinkledoe]

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.

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.

[yusupjatigumilar]

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.

[bettercrypto]

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?

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.

[FlightyPouch]

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.

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.

[elisnrj]

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.

[Nivia1st]

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.

[CryptoCraze11]

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 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.

[Turk Ace]

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

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 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.

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.

[partysaurus]

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 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,

[muratsink]

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.

[iMark]

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.

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

[EdenHazard]

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.

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.

[target]

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.

[exchangestolemycoins]

Bank account is full.

Tax reasons.

[EdvinZ]

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.

[trickyriky]

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.

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 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.

[KacperBTCrypto]

Bitcoin is not regulated!
Thats why.

[oseikuf44]

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.