While Amazon hasn't opted for direct cryptocurrency payments on its retail platform yet, it is actively exploring the space and investing in blockchain technology through AWS. NOWPayments mentions that there are ways to use cryptocurrency for Amazon purchases indirectly, such as through gift cards or crypto debit cards. It's crucial to rely on official announcements from Amazon regarding any changes in its cryptocurrency adoption strategy.
Reasons why Amazon hasn't adopted crypto payments directly (speculation)
Volatility: Cryptocurrencies are known for price volatility, making pricing and accounting challenging for a large retailer like Amazon.
Regulation: The evolving regulatory landscape for cryptocurrencies across different jurisdictions could be a factor, according to Investopedia.
Transaction Speed and Scalability: Some cryptocurrencies have limitations in transaction speed and scalability, potentially not meeting Amazon's high-volume needs.
Security and Customer Protection: The irreversible nature of crypto transactions could complicate Amazon's refund and return policies, and there are concerns about security and potential for fraud.
