Dish Network to become largest company to date to accept Bitcoin

By on May 29, 2014, 2:00 PM
dish, cable, dish network, bitcoin, virtual currency, cryptocurrency, coinbase, pay-tv, satellite tv provider

Dish Network on Thursday announced they will soon be the largest company to date and the first major television service provider to accept Bitcoin as a form of payment.

Bernie Han, Dish executive vice president and chief operating officer, said they always want to deliver choice and convenience to their customers and that includes the method they use to pay their bills. He added that Bitcoin is becoming a preferred way for some people to transact and they want to accommodate those individuals.

Dish joins others including Tiger Direct, Overstock and Yelp in support of the cryptocurrency.

The pay-TV provider has selected San Francisco-based Coinbase as their payment processor for Bitcoin transactions and will use the company’s Instant Exchange feature to exchange virtual currency payments to US dollars at the moment of the transaction.

Coinbase was founded in 2012 with $31 million in funding from top venture investors and currently plays host to more than 1.3 million consumer wallets. Their goals include making it easy to buy and sell Bitcoin, securely storing coins in the cloud and accepting the virtual currency as payment for their more than 31,000 merchant partners.

Dish plans to start accepting the cryptocurrency sometime during the third quarter, allowing customers to make a one-time payment (non-recurring). It’s worth pointing out that the Bitcoin payment option is in addition to existing payment methods.

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