Is Uber planning to accept Bitcoin and other cryptocurrencies as payment options

The CEO of the rideshare company stated that it’s obvious that they will accept payments in cryptocurrencies in upcoming times, but when, it’s still unclear.

• Cryptocurrencies and digital assets are gradually moving towards high acceptance among individuals and companies. 
• Earlier, many big companies like Tesla, Wikipedia, Starbucks, and some rumors even about Amazon planning for the same
• Now it seems like World’s leading rideshare company, Uber is also planning to add cryptocurrencies as their payment options

Who just doesn’t know Uber? Possibilities are you might have used its service or your any relative or just by any advertisement, but you might have heard of it. Uber Technologies Inc. is an American company that provides transport facilities and most services. 

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Recently in an interview, the CEO of Uber, Dara Khosrowshahi, told the interviewers that it is obvious for the company in the near future to accept crypto payments. But he mentioned two major hurdles in the way of applying crypto payments for fares cost and food delivery service. 

What exactly does the CEO put in

Dara stated that they always have conversations about crypto payments inside the firm, which could happen. But further, he said the difficulties in doing so at present. 

He said that cryptocurrencies like Bitcoin and others are quite valuable, and they store a lot of value. However, their use cases still have complications, like their expensive exchange mechanism. There are still very high transaction fees for transferring crypto like BTC across the wallets, and it’s not even great for the environment. 

Uber CEO further stated that cheaper and greener crypto could make the company consider digital assets closely for payments. He says as the mechanism goes cheap and more environment friendly, the company will be more likely to lean more towards crypto. 

They are watching it and in the future, is Uber going to accept cryptocurrency? Dara says, absolutely at some point. 

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A shift towards the crypto

Until last year, the CEO of Uber said that they had no plans to convert their cash holdings into Bitcoin as other companies like Tesla did. That statement by itself rejects the possibilities of Uber accepting crypto for payments, but now it seems possible. It also can be clarified by connecting the dots from here that he left the possibility of crypto payments accepting open for paying Uber transport fare and UberEats.