bitcoinBTC/USD
$ 20,466.00
ethereumETH/USD
$ 1,171.15
tetherUSDT/USD
$ 0.999694
cardanoADA/USD
$ 0.463549
xrpXRP/USD
$ 0.329626
usd-coinUSDC/USD
$ 1.00

The CEO of Amazon Says No to Crypto Payments

Amazon Not To Accept Crypto Payments Soon

The CEO of Amazon, Andy Jassy, announced crypto payments in his company. However, he is straightforward that his firm will not accept crypto payments soon.

Many people did not like this announcement. However, analysts still think that Amazon will move into cryptocurrencies in a big way. This could happen as soon as 2022 when the company would develop its own cryptocurrency. Despite the analysis, Jassy’s decision is still a big setback for the crypto payment market.

Amazon Will Not Accept Crypto Payments

Regarding the decision, Jassy did not justify why Amazon will not support crypto soon. On the other hand, David Moreno Darocas, an analyst for CryptoCompare, expresses his opinion. He thinks that the main reason is that the company does not want to risk losing money. This fear of risk comes from market volatility.

This makes sense because internet-only retailers tend to have low margins. Meanwhile, Amazon has a net margin of 2%. One may not understand this and ask, ‘What does this mean?’ If the price of crypto goods went down on a given day, the company would lose money on those items.

In the general analysis, Bezos is not a fan of Bitcoin. Another reason for not accepting crypto payments might be a possible crypto token of Amazon. The path seems clear for developing its own token.

A Possible Amazon Token

A job advertisement for a person in charge of digital currencies and blockchain was posted in 2021. As a result, this caused a lot of talk about Amazon’s plans to use digital currencies. The job description looked for someone skilled in product development for “Amazon’s Digital Currency and Blockchain strategy.”

Moreover, rumors about an Amazon crypto tie-in have been around for a long time, like on eBay. However, despite the job ad, the company did not reveal any plans regarding this topic. Some people have thought that the job posting meant that Amazon would start making its own token. Nonetheless, these are only speculations, as the company has remained silent on this topic. 

Also read:

Related News

Meta Continues With Its NFT Plans

Meta stated that its other cryptocurrency initiatives are proceeding according to schedule after announcing the end of its Novi project. Non-fungible tokens (NFT) have been developing for a while by the company. The Novi initiative, which enables remittances and international money transfers, will shortly be shut down, the company announced recently. According to the company, the project will no longer operate as of September 1. Users of Novi were informed

Read More »

Bitcoin’s Lightning Network Now Available for Argentina From OpenNode Partnership With Lemon Cash

OpenNode, a supplier for Bitcoin payments, has teamed with Lemon Cash, a well-known Latin American bitcoin wallet service. The wallet’s cooperation with OpenNode allows over 1 million Lemon Cash users to now access Bitcoin’s Lightning Network. “This partnership is yet another example of our capability and belief in Bitcoin as the new base layer for global payments… We’re proud to support Lemon’s mission and its desire to scale and benefit

Read More »
LuckyBlock is a worldwide game and competition platform with play to earn rewards using blockchain protocols. They have already given many prizes to the participants of the game.

Lucky Block Partners with Crypto Academy

Lucky Block has partnered with Crypto Academy, as we look forward to many updates and launches ahead.  Lucky Block has reached a partnership with Crypto Academy, the renowned Crypto Marketing Agency, and Informational and Educational portal. With an incredible success rate in helping cryptocurrency-focused startups grow in the industry, the partnership with Crypto Academy is a stepping stone in the exciting journey ahead for Lucky Block. LuckyBlock is a worldwide

Read More »

My Coins

bitcoinBitcoin
$ 20,466.001.83%
ethereumEthereum
$ 1,171.152.62%
cardanoCardano
$ 0.4635491.51%
tetherTether
$ 0.9996940.44%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy

Bitcoin

Contact Us

For any question conatct us through:

sales@crypto-academy.org

Disclaimer: All information and materials on this website are for educational purposes only. Crypto-academy.org does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: sales@crypto-academy.org