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Use of Bitcoin & Other Cryptocurrencies in Everyday Life

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Use of Bitcoin & Other Cryptocurrencies in Everyday Life
September 2nd, 2019NewsComments Off on Use of Bitcoin & Other Cryptocurrencies in Everyday Life

Ever since the launch of Bitcoin in 2009, cryptocurrencies have been a hot topic of discussion. But even after the spectacular rise in the popularity of bitcoin, some sort of mystery continues to exist around them. People still get confused about what exactly virtual coins are and how they can be used.

Bitcoin came into the global spotlight in 2017 when its value skyrocketed. Since then, consumers and businesses have started taking interest in this nascent market. However, despite escalating interest in cryptocurrency applications, this digital asset is still limited to investment and peer-to-peer trading. Bitcoin and other popular digital currencies have not yet entered the mainstream payments market. And as a result, people don’t even know how to use cryptocurrency in their everyday life.

Most of us know that cryptocurrencies are poised to revolutionize global commerce and support financial inclusion. However, only a few people know that cryptocurrencies also hold the potential to transform the way we shop, save, and do business. Every day, thousands of crypto transactions take place around the globe which indicates that a substantial user base for cryptocurrencies already exists. There are cryptocurrency ATMs and crypto-friendly vendors who accept Bitcoin as a mode of payment.

So, now if you are looking to use Bitcoin in everyday life, here are some real-world applications of Bitcoin.

Food

Have you ever heard of something like Bitcoin Bucket? Well, popular fast-food chain KFC once offered Bitcoin Bucket in Canada that became a hit among people. This move by KFC has resulted in enhancing the authenticity of crypto coins for mainstream transactions. Likewise, another famous food chain brand, Subway is accepting cryptocurrency as one of the payment options. It is expected that soon other fast-food chains and restaurants will also join up this trend.

Travel 

Believe it or not, you can use your crypto coins for traveling. The travel industry has surprisingly integrated cryptocurrency payments. For example, Cheapair.com is one such company which is accepting Bitcoin as a form of payment. You can buy flight tickets and book hotels, car rentals and cruises using Bitcoin. In the same way, portals like Expedia are open to bitcoin transactions. However, if you intend to make payment in Bitcoin, there are some strict company policies such as no refund.

Online Shopping

Cryptocurrencies have made it quicker and easier to make payments. It is due to this ease of trade that cryptocurrencies are perfect for online shopping. If Bitcoin was a bubble then companies like Microsoft would not have accepted it as a mode of payment. Microsoft is one the most prominent supporter of Bitcoin as you can purchase apps and games from their Play Store in exchange of bitcoins. Microsoft is not the only example. You can also buy household items such as furniture from some online stores that accept bitcoins as a way of payment. Besides this, the online casino industry is also joining the league. The leading online casinos are accepting cryptocurrencies as a mode of payment. As we are moving towards a “cashless society,” electronic transactions are becoming more popular because it is more convenient than cash payments.

 

Bitcoin(BTC)
$8,642.70(24H Vol)
$24,132,300,737.00
Ethereum(ETH)
$183.82(24H Vol)
$8,320,335,786.00
XRP(XRP)
$0.268(24H Vol)
$1,635,640,241.00
Bitcoin Cash(BCH)
$275.85(24H Vol)
$2,672,245,844.00
Litecoin(LTC)
$58.99(24H Vol)
$2,495,490,329.00
Dash(DASH)
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$363,907,912.00