Misunderstood, feared, underestimated — cryptocurrency has had an interesting start to life, but in the last few years it’s slowly become more legitimate and recognized by the mainstream.
So much so that major industries and leading businesses within them have started to come around to the idea of dealing in and accepting cryptocurrency payments. While far from normalized to the point where people are debating whether to use Bitcoins or cash, this is an important first step for those who have invested in cryptocurrencies from the very beginning.
So what are these businesses, and why have they taken the risk of hopping onto the cryptocurrency train.
Online casinos
On the surface, the relationship between online casinos and cryptocurrencies seems like an odd fit.
Gambling is a business that prides itself on always having the upper hand, being able to remove anyone causing trouble in their casinos in an instant, whether physical or virtual. That seems to sit at odds with the very idea of cryptocurrency, which to an outsider appears a more mysterious form of payment.
In some respects though, they’re a match made in heaven. Both are somewhat misunderstood, operating in darkened corners of the internet and difficult to really make your name in if you don’t have a strong understanding of their practices. It’s no surprise there is heavy crossover in cryptocurrency miners and online gamblers.
Furthermore, cryptocurrencies are some of the most traceable forms of currency available, thanks to blockchain technology.
All of this is to say that online casinos and cryptocurrencies have an interesting relationship of convenience. Many online gamblers would prefer to secure their finances by using cryptocurrencies over card deposits. This has led to many leading online casinos accepting cryptocurrencies, such as those listed on OnlineCasinos.co.uk.
Alternative casinos that deal exclusively in cryptocurrencies have also emerged in the last few years, promising users the most holistic and fairest gambling experience on the web and giving frequent miners an opportunity to increase the value of their cryptocurrency haul.
Real estate firms
No purchase is too large for cryptocurrencies, as their surprising home in the real estate industry proves.
Quite shockingly, the housing market has been willing to embrace the concept of alternative payments, as long as the money comes in in the end. Many would think the market is too integrated with national economics to take a risk on such an unstable and untested form of payment. And yet, the most radical measures have come from the top down in terms of wealth.
There have been cases of high-value properties listed for sale listing Bitcoins as an acceptable option, but the only accepted currency. This has been the case for both privately sold properties and ones available through real estate industries, showing this is far from an isolated incident unique to Bitcoin fanatics.
The use of blockchain technology also suggests a radical change may be coming within the industry. The rise of proptech coupled with an understanding and willingness to embrace Cryptocurrency has evolved thru time, you can even buy and sell cryptocurrency how we find and purchase properties not just in our local areas, but overseas.
Fast food
There’s no purchase more innately human than that of food. It’s something we all need, and as much as we may not admit it, fast food is something we all indulge in from time to time.
The multi-billion-dollar fast food industry has always been at the cutting edge of marketing and self-promotion, but many people don’t know it’s also willing to bring the right tech innovations into the fold.
You may not be able to buy a Big Mac with a Bitcoin just yet, but there have been high profile and extremely user-friendly examples of cryptocurrencies being used to facilitate orders for fries, burgers and pizzas.
In both Europe and the United States, there have been examples of fast food delivery portals accepting cryptocurrencies as a legitimate method of payment. This ranges from smaller, more Bitcoin-focused outfits such as pizzaforcoins.com to major brands such as Dominoes.
Dominoes isn’t even the only major brand to test the cryptocurrency waters. KFC launched the Bitcoin Bucket in 2018 in selected Canadian stores, hinting that success would lead to them trialing it as an option across the board.
Many experts may believe we’re no closer to seeing Bitcoin as a standard method of payment in stores and restaurants across the world, but there’s no denying they have made a substantial leap in the last few years. If the world won’t embrace them, we may start to see more and more alternatives pop up to give them a home.
