Bitcoin just celebrated its 10th anniversary, but its popularity has grown immensely compared to other cryptocurrencies that came before it....
Bitcoin is based on blockchain technology, which offers better guarantees of security and transparency in financial transactions than paper money. Digital currencies also allow for more convenient and cheaper money transfers, making them a more attractive payment method for businesses and consumers. These are some of the key industries behind Bitcoin's rapid growth:
Shopping online
As a virtual currency, Bitcoin is one of the most suitable means of payment for online businesses. That is why many online shops are increasingly turning to Bitcoin as a trustworthy means of payment for their goods and services.
Microsoft was one of the first companies to integrate Bitcoin as a payment method in 2014. They allow their customers to buy Microsoft games, apps, videos, and other services with Bitcoin.
Other well-known online shopping platforms that accept Bitcoin as a form of payment 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. These companies have partnered with other digital currency providers like Coinbase and made Bitcoin an accepted payment method.
The Pavilions Hotels & Resorts recently became the first international boutique hotel where customers can book with Bitcoin, Ethereum, and other digital currencies. Many travelers are now using cryptocurrencies as their primary payment method for travel expenses, including airline tickets and hotel rooms.
Bar and restaurant operators have been slow to embrace bitcoin, but that's about to change as travel companies push the move.
online casinos
Many gaming enthusiasts, especially gamblers, are now using Bitcoin to bet on games and play at online casinos. Bitcoin offers a secure, transparent, and faster way to process transactions online, making it a more convenient option for internet-based betting. Many online casinos accept bitcoin alongside other currencies and means of payment.
Some casinos only deal in bitcoin, mainly because of its security guarantees. Leading online casino operators usually work with betting sites and crypto exchanges, allowing their customers to wager using digital currencies conveniently and securely. Besides, these websites also provide helpful bitcoin betting and trading tips for online gamblers and crypto traders.
Charities
Some of the world's largest charities, including the Human Rights Foundation, Save the Children, Free Snowden, and The Water Project, is now accepting donations in Bitcoin. This is largely due to the transparency of Bitcoin transactions, which allows donors to track how these organizations are spending their money and whether they are using the donations for their intended purposes.
Bitcoin also incurs lower transaction costs, allowing charities to receive large amounts of donations. Financial experts believe Bitcoin has the potential to transform the way modern charities work. Bitcoin for Charity is a dedicated platform that connects donors with charities that accept donations in Bitcoin. Many reputable charities like the ones mentioned above are already using the system to ensure safe, transparent, and fast transactions.
Bitcoin is currently the most diverse currency in the world, and its value continues to increase every day. Many financial experts, industry leaders, and ordinary people believe that digital currency is the future and are excited to own bitcoin wallets. Therefore, we expect Bitcoin to see rapid mainstream adoption in the coming years as its influence spreads across various global industries.
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