Watching the saga of cryptocurrency unfold has been like watching a dramatic soap opera. There have been heady highs and crippling lows. We’ve heard passionate arguments both for and against. Traders have made a fortune only to then lose it all when the market dipped. It’s been a wild ride and it doesn’t look set to come to an end any time soon.
With social media giant, Facebook, announcing plans to launch their own cryptocurrency, the value of Bitcoin has, once again, shot through the roof. Naysayers are, perhaps, starting to wish they’d got in on the action in the early days and those who did buy Bitcoin when it was in its infancy are getting the last laugh – for now, at least.
One of the most promising developments that we’ve seen when it comes to cryptocurrency is the surge in growth of the number of companies willing to accept it as a payment. Bitcoin, in particular, has been added to a number of payment gateways as an accepted form of currency. The online casino industry was one of the first to truly embrace Bitcoin and now almost every new online casino includes Bitcoin as a convenient and safe form of banking. Players who wish to use Bitcoin in order to manage their bankroll while they win real money online in a casino, can do so at any number of sites such as https://new-casino.ca/real-money. And we’ve noticed that many of the casinos offering Bitcoin also offer the best online casino payouts.
Retailers have been more cautious about exchanging goods for cryptocurrency. However, now that the value of both Bitcoin and Ethereum has stabilised somewhat, we’re seeing more and more online sellers willing to jump on the bandwagon. This is also due to the fact that countries, such as China and, more recently, Japan have recognised cryptocurrency as a legitimate form of currency.
As the legitimacy of Bitcoin et al. becomes more widespread, we expect to see many other online and offline retailers scrambling to get in on the action. Booking a hotel or an excursion has already been made easier through the acceptance and use of Bitcoin, and some airlines are now allowing customers to pay for flight tickets with it. Certain educational institutes are now accepting Bitcoin for tuition fees, and we’re now seeing restaurants allowing patrons to pay their bill with Bitcoin, both of which show just what a huge leap forward cryptocurrency has made in recent years.
Privacy, Safety and Convenience
Individuals have been using cryptocurrency to transfer funds from one private account to another for quite some time now, and we’ve seen the number of people doing this grow steadily over the last few years. It’s easy to buy Bitcoin and it’s easy to store it online and keep track of how much you’re spending. Bitcoin ATM machines have been cropping up all over the place that allows you to buy bitcoin with the local currency or sell Bitcoin and draw out the equivalent in cash money.
Cryptocurrency offers total privacy and online safety – the same cannot be said for traditional banking – and it is these two elements that make this form of currency so tempting. It is also for this reason that governing bodies have had to take cryptocurrency seriously. They can no longer dismiss it as a fad. Bitcoin and the like are here to stay and only look set to become even more mainstream. Whether these cryptocurrencies will be able to retain the element of privacy as it has now, however, is yet to be seen.