Cryptocurrencies, also widely known as cryptos, are slowly but surely taking over the financial world and luring customers away from traditional forms of investing and paying for goods and services. The financial giants such as central banks and members of governments are not taking too kindly to this new wave of digital currency, as they can’t control it – we’re all aware the government loves to be in the know about the people and what they’re doing, how they’re spending money, and if it’s going to benefit them and their economy. Cryptos and trading allow the average person to create a stream of passive income while still working their everyday jobs and going about their typical day. Most Americans now have some form of investment to help with their retirement funds – some even being able to retire earlier than expected, should their investments grow with the stock market.
Now, it’s no surprise that a new beginning brings a lot of doubt and negativity with it – as humans, we don’t always like to support things we don’t yet understand or know the outcome of. Buying and selling crypto is very new to us, even after launching in early 2009, so understandably, those who don’t want to take chances are sitting on the sidelines watching those who love to take a risk or two make more money than they ever thought they could have in their lives.
Some online industries are now invested in digital currencies such as BTC, OKX, BNB, ETH and many more, because they want to be in the same position as those who are moving forward and reaping the benefits. PayPal now has a service for their UK customers that allows them to buy and sell crypto through their PayPal account, which has encouraged people who haven’t previously used the financial giant’s platform to create an account, as it adds another layer of security for consumers’ money.
Several online casinos now accept crypto as a form of payment, which has various benefits for players. Not only does it give them another currency to use when placing bets, but it also adds a layer of protection for them should they not want to disclose their personal information, such as their social security number. With all your funds held online, encrypted in a digital wallet, there’s no fear of your winnings being stolen. It’s a win-win for both sides, more players join with the new avenues created and the online casinos earn their profits through the games.
Bitcoin is one of, if not the most popular cryptocurrency and has taken over the digital currency market. Many large companies now accept Bitcoin as a form of legitimate funds. Surveys taken throughout 2020 show that over 36% of businesses across the USA now accept Bitcoin and other cryptocurrencies as forms of payment. That’s a huge step in a new direction for traditional thinkers and doers.
Who uses crypto online?
AT&T
One of the largest mobile network systems in America, AT&T is the first to allow crypto as a form of payment through BitPay – founded in 2011 to transform how people send, receive and store their digital currency.
Twitch
Twitch is an online streaming service most popular for providing a subscription option for those who use the server to play video games and stream at the same time. Owned by Amazon, it is no surprise that they allow Bitcoin and Bitcoin Cash as payment for using the server. With an audience across the globe, it would have been a bad business move to ignore this new trend that enables their consumers to use their services in this way.
Gyft
Online vouchers and e-gift cards have made for very popular Christmas presents for years already, so it’s no surprise that you can now buy and send gift cards for retailers like iTunes, Starbucks, Costa and Amazon by using your cryptocurrency as a form of payment – without any additional fees.
Amazon
Although Amazon doesn’t yet directly allow Bitcoin as a form of payment, you can use purse.io at checkout. Purse.io is an online platform that allows customers to search for discounts available on Amazon and use their Bitcoin as a form of payment in exchange for the product they wish to buy.
There are some large companies that are yet to get on board with cryptocurrency, and with the increasingly high demand to use this form of payment online, we expect to see many big-name brands announce their expansion into the digital currency world over the next couple of years.