Bitcoin just celebrated its 10th anniversary but, its popularity has grown immensely compared to other cryptocurrencies that came before it. It now accounts for over 60% of the entire cryptocurrency market and is traded alongside lucrative assets like gold. Bitcoin has steadily risen to become a stable digital currency, used worldwide as an investment instrument and payment method.
Bitcoin runs on blockchain technology, which offers better security and transparency guarantees in financial transactions than fiat money. Digital currencies also ensure more convenient and low-cost money transfers, making them a more attractive payment method for businesses and customers. These are some of the top industries behind Bitcoin’s rapid growth.
As a virtual currency, Bitcoin is one of the best-suited payment methods for online businesses. That is why many online stores are increasingly adopting Bitcoin as a trusted means of payment for their goods and services.
Microsoft was among the first enterprises to integrate Bitcoin as a mode of payment in 2014. They allow their customers to purchase Microsoft games, apps, videos, and other services using Bitcoin.
Other renowned online shopping platforms that accept Bitcoin as a payment method include Walmart, Amazon, Dell, Cheap Air, TigerDirect, and Nike.
Hotels and Travel
Hotels, restaurants, and travel companies have also contributed significantly to Bitcoin’s popularity. Expedia is an excellent example of the travel brands that have integrated Bitcoin as a payment method for their services. Those companies have partnered with other digital currency providers like Coinbase, making it an accepted payment method.
The Pavilions Hotels & Resorts recently became the first international boutique hotel to allow customers to book with Bitcoin, Ethereum, and other digital currencies. Many travelers now use crypto as their primary payment method for travel expenses, including airfares and hotel rooms.
Bar and restaurant operators have been slow in adopting Bitcoin but, that will soon change since travel companies are pushing the move.
Online Gaming Platforms
Many gaming enthusiasts, primarily gamblers today, use Bitcoin to bet on games and play online Gaming Platforms. Bitcoin offers a secure, transparent, and faster way to process transactions online, making it a more convenient option for internet-based betting. Many online Gaming Platforms accept Bitcoin alongside other currencies and means of payment.
Some Gaming Platforms deal exclusively with Bitcoin mainly because of its security guarantees. Leading online gaming operators usually team up with betting sites and crypto exchanges such as bitcoinscircuit.com, allowing their customers to bet with digital currencies conveniently and safely. Besides, those websites also offer helpful Bitcoin betting and trading tips for online gamblers and crypto traders.
Some of the world’s largest charity organizations, including the Human Rights Foundation, Save the Children, Free Snowden, and The Water Project, now accept donations in Bitcoin. That is mainly because of the transparency of Bitcoin transactions, allowing donors to track how those organizations spend their money and whether they use the donations for the intended purposes.
Bitcoin also bears lower transaction costs, which leaves charity organizations with vast chunks of donations. Financial experts believe Bitcoin has the potential to change how modern charities operate. Bitcoin for Charity is a dedicated platform, connecting donors with charity organizations that accept donations in Bitcoin. Many reputable charities like those mentioned above already use the system, ensuring safe, transparent, and quick transactions.
Bitcoin is currently the world’s most diverse currency, whose value continues to increase by the day. Many financial experts, industry leaders, and ordinary people believe digital currency is the future and, excited to own Bitcoin wallets. Thus, we expect Bitcoin’s rapid mainstream adoption in the coming years as its influence spreads across various global industries.