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The world is fast approaching a new change in how we make payments, with a cashless system becoming the desired way to pay by many across the world. Digital currencies are at the centre of this goal, due to the many benefits that they bring and their ability to speed up the process of making payments. While digital currencies are not entirely accepted by everyone, there are many industries utilising crypto and reaping the rewards. From real estate to logistics to digital ID management, the possibilities are endless.
As a standard for money, cryptocurrency has applications in a wide range of industries across the globe. Businesses can set certain price points for all the costs of their products and services with ease thanks, and customers gain from lowered global costs and noticeable competitive prices. Here are just a few of the industries and sites that accept Bitcoin and other digital currencies.
- Education
Many colleges and educational institutions are beginning to accept Bitcoin payments through the use of blockchain technology. Teachers can now earn tokens from students who wish to take part in specifically designed learning experiences in an online learning environment. Students are also saving money by using digital currencies. If a college concepts cryptocurrency payments, transaction fees can be reduced by 2-3% compared to using credit cards.
- Online Gaming and Gambling
Many online casinos now use cryptocurrency to provide faster and more secure ways for players to enjoy their favorite games. These selected sites that accept Bitcoin transactions via crypto wallets remove the need for inputting any sensitive data. This lowers the chance of fraud or theft of personal information such as account details, social security numbers, and more.
There have also been several digital currencies specifically made for gaming. These currencies include Cocos-BCX, CWV Chain, and Moss Coin. These coins and other cryptocurrencies are one of the latest breakthroughs in mobile and online gaming.
- Businesses and Corporations
Cryptocurrencies are being used as an investment asset more often within major businesses and corporations. Many companies are now creating and launching their own variations of digital currencies with the use of blockchain technology. Using blockchain technology can increase the security of a business’s transactions dramatically, vastly reducing the likelihood of fraudulent activities.
- Payment Platforms
Businesses are now accepting cryptocurrencies as payments for goods and services with the help of payment platforms. Reduced fees are usually offered when using these types of payment methods compared to the use of a credit card. These payments are also completed in a much more efficient manner as a third party isn’t required to complete the transaction.
- Healthcare Industry
In some of the most technologically-advanced nations worldwide, the healthcare system has begun to introduce cryptocurrency payment methods through a large part of the industry. Patients who need treatment in hospitals across Seoul, South Korea now have the option to make payments using cryptocurrencies rather than traditional methods. Payments like these are accepted through digital wallets, making a much more simplified way to pay for medical expenses for patients.
- Trading Platforms
For those who are interested in trading, there are many trading platforms that focus only on the purchasing, selling, and trading of crypto. You can find many trading platforms across the globe with some of the giants being Binance, Coinbase, eToro, KuCoin, CEX.IO, and Bitfinex. These online marketplaces work by linking vendors and buyers together while charging a transaction fee for each one that is made.
- Travel Industry
Many areas of the aviation sector utilise cryptocurrencies within their purchase system, such as paying for flights, tickets, and various other travel-related acquisitions. In a bid to attract a new market of clients to build up tourism, there are lots of travel companies that have begun to offer Bitcoin packages to those that hold crypto assets.
- Hotel and Hospitality Industry
Some of the most well-known restaurants and hotels are now accepting digital currencies as a form of payment, making online payments even simpler. A few examples include:
- Palazzo Versace – Dubai
- Kessler Collection – US
- The Pavilions Hotels & Resorts – Europe and Asia
- Soneva – Maldives and Thailand
- Chedi Andermatt – Switzerland
Customers have found that paying via digital currencies is an attractive, secure, fast, and convenient method making the introduction of cryptocurrency payment options to hotel websites very appealing.
- Financial Sector
Blockchain technology is of course beneficial within the financial industry. The majority of banks are now accepting cryptocurrencies such as Bitcoin, Ethereum, and Litecoin to name a few. Fraud has been an issue in the past within the financial sector, but blockchain creates much more transparency between transactions, making it safer for everyone involved.
- Entertainment Industry
Many media and entertainment businesses are willing to accept Bitcoin payments for the download of movies, music, and other forms of content. These services include Twitch, Feedbands, Dish Network, and Sling TV to name a few. Digital tokens deliver a simple and fast way of transmitting money, ultimately creating a higher efficiency. You can purchase cinema tickets very easily with cryptocurrencies by visiting places such as AMC and Regal Cinemas.
