It has been more than a decade since cryptocurrencies came into existence, and while Bitcoin has been on everyone’s tongue these past few years, it is yet to go mainstream.
However, most believe that cryptos are here to stay. Evident by large banks collaborating with existing crypto clients or developing their own cryptocurrencies, and jurisdictions that are scurrying to put into place legislation allowing companies to carry out initial coin offerings or token issuance.
Thus, while some are still resistant, some industries are not only accepting Bitcoin payments, they are also pushing for their popularization.
Online Gambling
There are many online casinos today that accept even more cryptocurrencies than bitcoin. Given that Bitcoin transactions are an anonymous, fast, and secure way of transferring funds worldwide, which allow the maintenance of records without risk of data piracy, it is a method favored by both modern-day gamblers and gamers. Conversely, many top online gambling platforms such as JoyCasino, not only allow it, but they promote its use.
Bitcoin also enables players to keep track of their betting history through the blockchain, so they are always aware of how much of their funds they’ve spent. In a sense, it promotes responsible gambling as well. Nonetheless, the main benefit is that other payment options cannot compete with the speed of crypto transfers, especially concerning the withdrawal of funds.
Travel Industry
Cryptocurrencies often feature significant security measures, which make theft harder than with card options. The methodology used in Bitcoin transactions makes payment interception nearly impossible. Since security in travel is of paramount importance, and the fact that some banks are now starting to exchange cryptos into fiat currencies, adoption from the travel industry seems like a natural fit.
CheapAir became the first travel agency to accept Bitcoin in 2013. Since then, many have followed suit. In 2019, one of Europe’s leading budget airlines, Norwegian Air, joined the club.
The travel industry is the second-fastest-growing industry in the world and most people that travel use a smartphone, meaning they embrace technological innovation. If we add to this that there are 1.7 billion adults worldwide that are unbanked, it’s easy to see how Bitcoin and traveling can become a potent combination.
Automotive Industry
Those that do not follow the latest crypto happenings may be aware that you can trade cryptocurrencies for fiat ones, but they may not know that you can also trade them for an actual Fiat. Like in the car, Fiat. Yes, as long as the dealership is willing to accept Bitcoin as a form of payment, this is a possibility. It is also a reality as many around the world are, including companies such as Tesla and BMW.
Luxury car dealerships started the trend, but local ones quickly followed. Car manufacturers are also experimenting with blockchain technology, with Ford looking into blockchain and geofencing to track the green miles from its energy-efficient vehicles. General Motors, Honda, and Renault are using blockchain car identification and payment systems in the US. Even Indian car manufacturer Tata Motors has announced plans on applying blockchain solutions.
