More and more companies are beginning to accept payments in digital currencies. Today, one can use bitcoin and some other coins-not only to buy something on Amazon or eBay, but also to pay taxes or recharge transport cards.
It was already in 2015 that the volume of transactions in bitcoin exceeded the total payments through the American System Western Union. Since then, many companies have joined the use of cryptographic coins. These include AirBaltic, Dell’s computer producer, Time magazine, several stores, and other companies.
In other words, it is now possible to pay for quite a variety of products and services, according to the Russian medium RBC. In 2019, the popularity of cryptocurrency payments continues to grow, so different shops, restaurants, car dealers, and housing agencies can accept payments in cyber currency.
To make a payment with a cryptocurrency, it is enough to scan a QR code with a mobile phone, transfer the money to the seller’s purse or use the help of any payment system that can serve as a mediator.
While payments with cryptographic currencies become more popular, more related services appear. For example, some are used to search for companies that accept cryptocurrencies or ATMs that can process bitcoins.
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The pioneer of this practice has been Japan, where nowadays one can use bitcoins almost everywhere. However, companies in other countries are also not marginalized.
For example, in the Czech Republic, there is a network of BitcoinCoffee cafeterias, while the Burger King fast-food network in the Netherlands also sells hamburgers for digital coins. It can be seen that the gastronomic industry applies innovative practice more widely; however, the range of services involved is indeed quite high. For example, nowadays you can pay for university tuition, plastic surgery, or even funeral services with virtual money.
Among the areas open to ‘blockchain’ technology, it is also Charity. In this case, the blockchain allows you to control that all money transferred to charity is fairly distributed. For Latin America, cryptographic currencies are not only an alternative means of payment but a tool to combat hyperinflation and reduce dependence on the dollar and the euro. In particular, Venezuela launched the first national cryptocurrencies, Petro. Meanwhile, Argentina became the leader from the sale of the bitcoin.
Little by little, cryptographic currencies cease to be an investment and a marginal means of payment and take root in different areas. In this respect, it can be assumed that in the future they could compete with the leading payment systems, including MasterCard and Visa, concludes columnist RBC, Nikita Ignatiev.