More and more companies worldwide adopt digital money. With bitcoin you can pay for goods on Amazon and eBay, to pay taxes, to pay for public transportation, and that’s not all.
Four years ago, in 2015, the total volume of transactions in the Bitcoin network has surpassed the us payment system Western Union. Since then it has become much more big companies that accept digital money through special services or directly:
- AirBaltic — airline;
- Amazon, eBay — the goods of mass demand;
- Dell company in the production PC;
- Etsy is a peer-to-peer e-Commerce platform;
- PayPal is the electronic system for payments;
- Reddit is a social portal;
- Time — popular American magazine;
- WordPress — content management system website.
Digital money is used to pay for travel, purchases in online games, services of freelancers to Finance startups and blockchain projects (ICO).
The growth of the market of goods and services for the cryptocurrency
Every day new organizations, which implement the payment of digital currencies. It’s restaurants, bars, shops of world famous brands, fast food chains, taxi and public transport, motor vehicles and exclusive Agency for the sale of real estate.
As a rule, the payment cryptocurrency occurs in several ways:
- The QR code simply scan with a smartphone with the established system in the desired cryptocurrency;
- translation to the specified purse;
- payment through third party payment systems, receiving digital money.
To know, do you support the use of cryptocurrency, it is enough to ask the seller or consultant. There are also gift cards from companies purse.io and gyft.com. They give you the opportunity to pay for goods with bitcoin, for example, on Amazon. Thanks to these services have access to virtually unlimited market of goods.
The network also has specialized sites to find vendors that accept cryptocurrencies. The largest search service is spendbitcoins.com — its database of over 100 thousand customers. Usebitcoins.info — like portal with enhanced functionality. Coinmap.org world map with marks of places where you can pay with digital money. Coinatmradar.com — search for bitcoin ATMs.
Popular ways to spend bitcoin in different countries
A pioneer in the use of digital currencies as means of payment was Japan. Recently in the country with the help of bitcoin, you can pay for virtually any product or service. Organizations around the world are also gradually introducing payment for goods and services with cryptocurrency.
For example, the network of institutions BitcoinCoffee opened in the Czech Republic. From cryptocurrency payments are only accepted Bitcoin. In contrast to this coffee shop, pizza delivery PizzaForCoins takes more than 50 different coins.
Supports the development of new technologies and a worldwide network of fast food restaurants Burger King. Recently in the Netherlands restaurants in the fast food take bitcoin payments.
KFC accepts cryptocurrencies DASH in Venezuela. Global brands followed suit, such as PapaJohn’s pizzeria, fast food chain Subway, hotels Traki. Restaurants and food delivery service — one of the first who implements payment of the cryptocurrency.
Universities also try to keep up with the times. Now to pay with bitcoins in educational institutions in Germany, Cyprus, USA, Switzerland and other countries. One of the first Swiss University of Lucerne, which has started to accept the cryptocurrency for tuition in the artistic and scientific school in 2017. Operator of such payments made by the famous Swiss company BitcoinSuisse AG.
In the eminent new York plastic surgery clinic Body Sculpt you can not only pay a full range of services using bitcoin, and even get a discount. If you are local, then visit this place you can buy a ticket, and also for the cryptocurrency.
Unusual purchase will be the purchase of a coffin and the entire spectrum of funeral services for the cryptocurrency in the us state of Minnesota. The company CTF&CH, located in the city of Saint Paul, accept payments for their goods and services with Bitcoin and gives you an additional discount.
Charity and cryptocurrency
The main reason for the reduction in the number of charitable funds — corruption. Patrons refusing to Finance the funds, explaining that the funds are spent for other purposes and to follow them is almost impossible.
The introduction of cryptocurrencies into the world economy will reduce abuse in the charitable sector, and blockchain technology — easily track financial. The international Fund “world food programme” has been successfully applies digital currency and blockchain technology in its activities on the distribution of aid to the starving inhabitants of the Earth.
Cryptocurrencies in countries with high inflation
In some South American countries have experienced economic shocks, which have caused the depreciation of the national currency and as a result — hyperinflation. These States depend on exports of goods that are purchased with U.S. dollars and euros. To reduce the impact of the rise in the exchange rate, the governments of these countries decided to use crypto-currencies as means of payment.
The rapidly depreciating national currency is the Venezuelan Bolivar stimulates the growth of demand for various cryptocurrencies in the population. The most common in this country — Dash. More than 3000 companies use this Aldon as a means of payment.
Venezuela has also released the world’s first national cryptocurrency Petro. The government plans to obtain funds for oil exports to bypass the us sanctions. In addition to oil trade, the Venezuelan government proposes to use this coin in the framework of the Bolivarian Alliance for the peoples, which includes a dozen countries of Latin America. Ordinary businessmen and citizens of this country are using digital currency to bypass restrictions in the economy.
If the government plans on using the cryptocurrency are held with varying degrees of success, for the population the use of cryptocurrencies — a way out of difficult economic situation.
Argentina is the leader in retail turnover of Bitcoin. The reason is the same as in Venezuela — a long-term hyperinflation. There is the most rapidly growing market for bitcoin ATMs in the world. According to forecasts, the number of such devices in the country by the end of 2019 will exceed 2000, and their implementation, according to the government, will allow to overcome the negative effects of hyperinflation.
After the prohibition of the use of Bank cards to pay for taxi Argentine Uber, this system started to accept bitcoins. Also, the Alto Viaje and the Latin American exchange Bitex, it became possible to replenish the SUBE card, which is used for fare collection in public transport.
Latin America has developed a special cryptocurrency ApperCoin. For payments with it enough to install a special application on the smartphone. A distinctive feature — the lack of a fee and high speed of transactions (average 10 seconds). Some retailers offer discounts up to 40% when using this cryptocurrency.
At the end of November 2018 in the us state of Ohio there was a possibility of paying taxes with cryptocurrency. After this, some States became interested in the possibility of introducing the same option. It tells about the transition of cryptocurrency in section accepted means of payment at the state level.
All of these ways to spend digital money is a small fraction of what is available on the world market. Their potential is huge and depends only on the imagination of users and developers. Probably soon, cryptocurrency will be able to compete with major payment operators like MasterCard and VISA.