Few years ago, finding a merchant that accepts cryptocurrency in exchange for other valuable things was very difficult, if not impossible. This has limited what we can do with cryptocurrency for a while now. However, these days, the situation has completely changed(or rapidly changing). Well known tech, financial and even educational institutions have been rumored to make use of cryptocurrency.
There are several merchants both online and offline that accept Bitcoin as a medium of payment. They range from large online retailers like Overstock and Newegg to small local shops, bars and restaurants. Bitcoin can be used to pay for hotels, flights, jewelry, apps, computer software and parts and even school fees.
Different Institutions Who Now Make Use Of Cryptocurrencies
Apple has authorized over 10 different cryptocurrencies as a viable form of payment on App Store. These have increased the number of things we can do with cryptocurrencies. With increase in the number of Gift Card selling websites, one can essentially buy anything with a cryptocurrency.
Finally, they are marketplaces like Bitify and OpenBazaar that accept only cryptocurrencies as a medium of exchange. This positive development is expected to rise in the future as cryptocurrencies become increasingly adopted.
The likes of Skrill have shown interest in bitcoin and the use of cryptocurrency in recent times. The Skrill wallet now accepts bitcoin, ETH, litecoin. The truth is the world of cryptocurrency is dynamic and most companies are trying to be flexible to adopt its use.
Note: This is just a few of the many uses of cryptocurrencies. Subsequent articles in the series will highlight more of it.