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Amazon denies reports of accepting crypto payments

Amazon cryptocurrency_IFM_Image
The e-commerce giant is however focused on looking into developments in crypto

US-based e-commerce giant Amazon has denied reports which earlier suggested that the company is preparing to accept cryptocurrencies such as bitcoin as a form of payment, media reports said. However, the company remains focused on looking into developments in cryptocurrencies.

In a statement to the media, Amazon said, “We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.”

Recently Amazon said in a hiring post that, the Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap which led to the speculations. As a result, bitcoin’s value soared and touched the $40,000 mark.

Earlier this month, Ether, the official cryptocurrency of the Ethereum network, overtook bitcoin as the most exchanged cryptocurrency. Bitcoin’s reputation as the most popular cryptocurrency is under threat for the first time ever.

It was confirmed that Ether has surpassed bitcoin in daily active address by Santiment, a crypto analytics company. This indicates that a growing number of investors are drifting towards Ether.

Central American country El Salvador’s President Nayib Bukele announced last month that the country’s plan to make bitcoin a legal tender in the country. Not only that, Bukele has now attached incentives for those dealing in bitcoin in the country, contrary to crypto restrictions in other parts of the world. He said that bitcoin has a market cap of $680 billion dollars and if even 1 percent of it is invested in El Salvador, that would increase its GDP by 25 percent.

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