Bitcoin Gets Wider Adoption As a Payment Option: How?

Bitcoin Gets Wider Adoption As a Payment Option: How?

Some experts believe that bitcoin and other cryptos are not cut out for being used as public currencies for carrying out daily purchases. For instance, professor of finance at the Stern School of Business at New York University Aswath Damodaran questioned the possibility of using BTC for covering expenses on a future one-year trip.

The difficulty is that there are high risks connected with cryptos and various obstacles like fees and long transaction time that prevent BTC from being easy to be sent or spent.

Nevertheless, as CBNC points out, there are lots of people who are ready to adopt bitcoin and its ilks as means of payment. And their popularity grows as more places start accepting cryptos.

Cryptos – New Currency As Wider Adoption Shows

In 2017, people used BTC for merchant services much more than four years before that. In particular, the monthly average of those costs was $190.2 million, whereas in 2013 it was only $9.8 million.

And this index is expected to grow as long as more and more companies embrace cryptos as payment methods.

Bitwala

This fin-tech firm is soon going to open a crypto bank where people will be able to get cyber currency debit cards. The institution is anticipated to be launched just in a few months. With this card, Bitwala clients will be able to pay for various services and goods both online and in stores or cafes. The bank will automatically convert cyber currency into fiat.

According to the company’s CEO Jorg von Minckwitz, around 20,000 have already supported the project and signed up for the service. The undeniable benefit of this crypto-bank is that it is less confusing for ordinary users than cyber money exchanges.

Other Crypto-Friendly Services

On Purse.io one can shop online using digital currencies. On Amazon, users can purchase goods in the same way. In its turn, GoCoin assists traders in endorsing cryptos.

So, the future of cryptos is in the hands of ordinary users – not nocoiners.

Bitcoin’s Volatility? In 2017 BTC Was More Stable Than In Its Early Days
Despite some 30% crashes in 2017, bitcoin managed to increase by total 1,400% last year, conquering the world’s financial stage. Banks are becoming...
Stablecoin - Everything You Need to Know
What Is A Stablecoin? You must have heard of cryptocurrency which has been the recent talk of the town. Well, stablecoins are a form of...
Gold Pulls Bitcoin Investors From BTC, Says Van Eck Associates CEO
In 2017-2018 bitcoin bit gold as bait for investors. However, the situation is expected to change in 2019 as investors already hope more for the gold...
Crypto-Supporter Milne Said Bitcoin’s Only Ledger to Last 100 Years
As bitcoin continues trading approximately Twitter thread entrepreneur Alistair Milne forecasted that the upcoming cyber money bull will decide which...
Increased Supply of Altcoins Will Depress Bitcoin, Says St. Louis Fed Report
As it is known, crypto-supporters (bitcoin bulls) widely believe that the increase in the capped supply of all cyber-coins will boost bitcoin’s value...
BTC Market Cap Will Surpass $7 Trillion Gold Cap, Say Winklevoss
Recently, Tyler and Cameron Winklevoss, world-known entrepreneurs and early supporters of cryptos, have taken part in Reddit’s traded at $4,061 and...
Crypto-Community Celebrates Bitcoin’s 10th Birthday
This year’s January 3 marks a decade since the first bitcoin block was generated by Satoshi Nakamoto. Back then, in 2009, this person (or group of...
Best Bitcoin Memes in 2018: ‘Hodling’ and Crying
2018 has not been an easy year for bitcoin, not at all. Whereas it left 2017 at the price of $10,000, it started the new year in a pretty bullish...
Bitcoin Hits $4,190 For The First Time Since Early December
For the first time in a fortnight, bitcoin has managed to creep above the $4,000-margin. As of writing, the king of all cryptos is traded at $4,031...
Bitcoin Surpasses $3,500 on the Anniversary of the $19,000 Record
Today, December 17 marks an anniversary since bitcoin hit the $19,000 high for the first time ever. Moreover, this day marks a petty recovery of the...