Paying with Cryptocurrencies

 

The introduction of blockchain technology took the industry by the storm. Various areas and businesses began to think about how to utilize its promising potential, especially the finance and banking systems set to gain the most on the emerging concept. The most emblematic outcome of the new order was the creation of cryptocurrencies and establishing the means to use them as payment.

Naturally, at the humble beginnings of virtual money transactions, there were limited opportunities. One of the pioneers of the new solution, and blockchain technology in general, was gaming and betting websites. With the first adventurous companies and gaming providers paving the way, this particular area of business grew stronger in accepting the digital cash for their purposes. Often, they would create their own virtual coin in hopes to capitalize off this growing trend, much like many businesses do nowadays.

That said, the title of the most recognizable and important cryptocurrency on the market still belongs to Bitcoin. Unsurprisingly, it is also the safest choice if you wish to go around spending electronic money, as it will be more commonly acceptable by websites and real-world stores. With it, you can purchase different products or services, including food, especially when you’re willing to pay for delivery. But you could also use it to shop for electronics, furniture, bedding, clothing or jewelry as well as booking hotels, flights or paying for transportation. Some of the more unusual organizations, eager enough to keep up with the new ways that could also receive payments or donations from you are churches, universities, firearm dealers, online dating services and … space flight companies.

Using cryptocurrencies commonly as a method of payment has a lot to improve. After all, it is a growing market. Admittedly, last year was not especially good for cryptos and investments. However, to make some educated predictions for 2019, we should be able to expect positive news in the crypto market. That’s especially in terms of regulations and surveillance that look out for shady ICOs and fraudulent occurrences, all to protect the customers.

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