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Cryptocurrencies have captured the attention of not only financial specialists and crypto advocates but also regular people in recent years. Thousands of people have begun to invest heavily in digital money.
Initially, digital currency could only be traded. However, a growing number of businesses around the world now accept cryptocurrency as payment for their goods and services. There are also specialized platforms that can assist you in locating such businesses.
There are numerous such locations throughout Europe, the United States, and Latin America. Cryptocurrencies are now being accepted by large multinational corporations. You can already use Bitcoin on Amazon or eBay, pay taxes, and take public transportation, among other things. The sectors listed below were early adopters of cryptocurrency.
Gambling
One of the first sectors to utilize revolutionary blockchain technology was online gambling. Currently, online games account for around half of all Bitcoin transactions. Furthermore, certain Bitcoin casino like Betfury, not only take cryptocurrency but also provide large bonuses in exchange for it.
By 2022, the worldwide iGaming sector is predicted to be worth $565 billion, or $72 for every person on the planet. And cryptocurrencies will account for a sizable chunk of that total. There are many reasons for this:
- Cryptocurrencies make it easier for people to access gambling from places where it is illegal.
- Many online gamblers simply do not want gambling transactions to reflect on their bank statements. Cryptocurrency offers privacy and makes money deposits and withdrawals easier.
Users can certify that games are safe and fair by using cryptocurrency and blockchain technologies. Smart contracts power transactions that are registered on the blockchain. As a result, trust levels can be greatly raised, leaving less room for fraudulent operations.
Tourism
Tourists, according to tourism experts, will only use non-cash payments in the near future. Furthermore, they will frequently use cryptocurrency.
People enjoy traveling to exotic locations where they may find themselves without access to ATMs or the ability to pay for goods and services with a bank card. It is also worth noting that 1.7 billion individuals do not have a bank account today, despite the fact that the number of mobile phone users worldwide is rapidly increasing.
Banking
Because there is currently no clear regulation for cryptocurrencies in the world, most banks are taking a wait-and-see strategy. Nonetheless, some institutions are not ignoring what may result in big changes in the near future.
Julius Baer, one of Switzerland’s leading private banks, will give its clients access to crypto assets. It will be feasible thanks to collaboration with SEBA Crypto AG, one of the country’s first bitcoin banks.
The food industry
It may appear weird at first that blockchain and bitcoin are in high demand in the food business. However, this technology enables a transparent supply chain and smooth payments. Furthermore, actors in the food supply chain might be granted authorized access to reliable food information. These are the participants:
The retail market
Every year, the number of online retailers accepting cryptocurrency payments grows. Even though some stores are not yet ready to settle accounts in cryptocurrency, there are numerous firms that can manage it.
All residents of the United States can use digital coins to make purchases at HomeDepot and Walmart using the Alagoria app. Wikipedia, Expedia, Microsoft, and WordPress have all revealed the option to pay for services and goods with cryptocurrency.
