While Bitcoin is changing how we look at money, music streaming services have already changed the way we listen to music. Now Bitcoin users may subscribe to Grooveshark music streaming service using the most popular cryptocurrency.
While it’s not the first streaming service to open up to BTC, Grooveshark announced it is accepting Bitcoin payments and using Stripe to process payments in digital currency. Users have the option to pay US$5 per month for the service or US$50 annually. Stripe allows is commonly used to make direct conversion into USD that is described in Grooveshark Terms of service guidance:
“If you decide to use Bitcoin as your choice of payment, please be aware that Bitcoins are instantly converted to currency (USD) at the time of purchase, so any refunds will be in the same value of USD at the time of purchase but not necessarily the same number of Bitcoin (if the exchange rate has changed).”
The idea of accepting Bitcoins on Grooveshark has come a long way – it is yet another case of when Bitcoin enthusiasts’ activity helped another business to adopt digital currency. Grooveshark’s catalog streams over 1 billion sound files per month, and with over 15 million songs and 20 million users, this endeavor seems to have been worth it when it comes to expanding Bitcoin’s reach.
Interestingly enough, the news has not been covered much by the mainstream media. But some reddit users stated that they have received emails from the company notifying them of the new payment option. Here’s an email a user on Reddit received:
“Hello! Within the past year we received an email from you requesting a Bitcoin payment option. I am writing to give you some great news – We now accept Bitcoin payments for premium subscriptions! You can use this payment option by visiting http://grooveshark.com/#!/settings/subscription and using the upgrade option. We appreciate you letting us know you’d like to see this payment option so we could continue to improve for our users. Rock on!
Jessica – Community Developer”
Today, Grooveshark is one of the few companies such as Pandora and Spotify that are changing the way we listen to music. Perhaps, this competitive move will spur these other music streaming websites to also get onboard. Certainly, Grooveshark’s decision to accept received a lot of appreciation from /r/Bitcoin subscribers.
Grooveshark was fully launched in 2007 as a music search engine that allows users to stream and upload their and their friends’ favorite songs. Today it has more than 20 million users all over the world and is available in 30 different languages.
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