Bitcoin has been performing very well for the better part of two years now. Given that people have begun to look at the digital currency as more of a commodity for trading as opposed to an everyday alternative to regular money, it has become an impressive asset. And with the price weathering some storms and staying at a high value, one recent analysis even went so far as to suggest a $500,000 Bitcoin listing by the year 2030.
Even as Bitcoin seems to be becoming a formidable investable asset, it's also becoming more useful for actual financial transactions. There are a number of areas where it’s just as easy to use Bitcoin as it is to make a credit card transaction. In some of these areas consumers are growing to appreciate the security and anonymity of legitimate cryptocurrency payments. Here are a few examples of how Bitcoin is becoming more ubiquitous in the marketplace.
More Merchants Are Accepting Bitcoin
The simplest fact is that more stores and venues are accepting in-person Bitcoin payments by the month. You can now search for places that accept Bitcoin anywhere in the world. It doesn't matter whether you’re looking for restaurants, automotive shops, sporting arenas, or most anything else. And not everything makes it onto a search database. There are also more local shops in different parts of the world adopting digital payment platforms that will accept Bitcoin in addition to other methods.
Online Gaming Sites Are Adjusting
This might not mean much to some people, but to a huge community of online gaming fans around the world, it’s a big change. NetBet recently became the first online casino to offer a Bitcoin payment option, and in doing so likely launched a payment revolution in the gaming community. This is an industry that sees enormous amounts of money change hands on a day-to-day basis, often between international competitors. Bitcoin will quickly fast become a secure and convenient option for a lot of players.
Purchases Abroad Can Be Simplified
One article exploring what Bitcoin is actually useful for delved into airlines and hotel rooms, and while Bitcoin can’t be used for all international travel, it's an important application. As cryptocurrency becomes more universal, it will make for an interesting alternative to the currency exchanges international travelers often have to rely on.
Online Retailers Are On Board
It’s also important to note that a lot of goods and services can now be purchased online through Bitcoin. We already covered the idea of searching for in-person merchants, but online some of the biggest retailers in business have made the transition to accepting cryptocurrency payments. This might be the biggest way that Bitcoin has become a more commonplace mainstream currency, and is also where it's likely to continue to grow.
Tarik Pierce is the founder of InvestorTrip.com and regularly contributes articles to this website.
While living overseas, he uses PureVPN for a low cost VPN service.
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While his background is mostly related to trading stocks, he recently gained interest in real estate crowdfunding with Fundrise.