Cryptocurrency has continued to become more prevalent within the financial world, as it has continued to experience an increase in terms of global adoption.
There are individuals all over the world that have decided to invest in various forms of the digital currency, with many opting for traditional choices like Bitcoin and Ethereum, while others have opted for altcoins and stablecoins that are less familiar or recognized by the wider population.
Many industries are starting to accept crypto.
The growth in adoption has helped to accelerate its growth and usability, too, as holders are now finding that they have more control and power. A variety of different industries are beginning to accept crypto as a form of payment, as they look to cash in and make sure they do not close themselves off to a potentially lucrative form of revenue.
There are several surprising ways to have emerged in which holders are now able to spend their digital currency because of businesses adapting to the times and doing as much as they can to remain as accessible as possible.
Charities
Charities could be considered to be among the most surprising to have started to accept cryptocurrencies, although it should not be as shocking as perhaps first thought. Charities are always looking for ways to generate income via donations, and the use of crypto provides them with a new way. They can save on taxes because of its decentralized nature, while those donating can keep their identities anonymous; a benefit that many who donate may like to have.
Gaming and Entertainment
The gaming and entertainment industries are among the biggest to have started to accept cryptocurrencies as a form of payment. Gamers can use the digital currency to stay safer as their private details remain hidden. The popular casino site, Stake.us, is one of the best examples of the iGaming industry taking the lead, as it also gives players the ability to play safely, while also making cross-border transactions and bypassing any restrictions that may be in place in their home country with fiat currency.
Retailers
Almost everybody will shop online at some point, with the e-commerce industry booming as much as ever. Retailers and other online stores are always looking for ways to be able to take money from their customers in an accessible way, and cryptocurrency has become the next step due to its popularity. The benefits that crypto holders have when using virtual tokens can be extremely advantageous, as they are able to keep transactions private, which can then give them a little more security and privacy about what they spend their money on. Some like to use crypto when purchasing luxury goods, as these products can typically cost a lot, therefore keeping the transaction hidden has become a necessity.
Travel operators
Booking a holiday and paying for it has become a lot easier for crypto holders, as several operators have started to accept it as a form of payment. One reason Bitcoin and other tokens have become popular with holidaymakers is that it eliminates pesky fees such as exchange rates, therefore giving them more money in their pocket to spend on the things that they want, rather than having to pay extra charges that banks may hit them with.
Education
Some educational institutions, such as universities or online courses that offer degree programs, have begun to accept cryptocurrency as a recognized form of payment. Many like to use virtual currency to pay for these as they find that it can be easier than having to use fiat currency, especially as they can come with additional interest, which ultimately balloons the overall payment in the future.
Healthcare
The healthcare industry has started to allow patients to pay for treatment or medicine with virtual currency. Some hospitals and pharmaceutical companies have begun to provide the option to their patients as they recognize it can be a favored way for many to pay. Again, anonymity perhaps plays a key role, as they can keep things a little more private.
Expect cryptocurrency use to explode in the future
While the aforementioned uses of crypto can be considered to be among the most surprising, it is not hard to understand or see why this is the case and why it has happened. We should expect to see even more industries in the future look to provide them as an accepted payment method, especially if adoption rates continue to grow and increase as much as they have over the last few years.