Where cryptocurrency was once seen as obscure and esoteric, today it is a popular and promising form of currency in the mainstream.
This is partly due to the increasing simplification of the process of sourcing them. But it’s also partly down to more and more industries accepting cryptocurrencies for payment too.
Read on to discover some of the industries that are on board with cryptocurrency in 2020.
The worlds of cryptocurrencies and online gaming might seem quite disparate. But in reality, they have quite a lot in common. As well as relying heavily on online communities, they also lean on the idea of a token currency system.
There are plenty of examples of titles that let players buy tokens — such as Fortnite — to be used as in-game currency. It’s only a matter of time before such game developers let plays buy real cryptocurrency to use in-game as well.
But there is another online gaming space that has particularly embraced the use of cryptocurrencies: online gambling.
Whilst still in its relative infancy, several online casinos have started accepting cryptocurrencies as standard. Indeed, the review website OnlineCasinos.co.uk lists at least three different casinos that accept payments in the form of Bitcoin.
These rank in its top eight reviewed casinos, so you can be sure that other major online gambling spaces will be joining them soon.
You might not immediately think that the real estate industry is one that would accept cryptocurrency. It feels too large and far too integrated with the economy as a whole to risk including a potentially volatile currency such as crypto in its accepted structure.
But in fact, the opposite is true. There have been several notable examples of realtors listing houses as available to purchase with Bitcoin. And there are also examples of private owners selling via cryptocurrency — successfully too.
Consequently, this represents a significant paradigm shift in the way real estate is done in the 21st century. Part of cryptocurrency’s allure lies in the fact that it makes buying a house simpler. Less paper and more transparency make the whole process much more straightforward.
Fast food & food delivery
Perhaps one of the most unusual industries to get on board with cryptocurrency in 2020 is the food industry.
A whole range of fast-food restaurants have launched campaigns based on cryptocurrency. In 2018, for instance, KFC launched the Bitcoin Bucket in Canada as a method of testing the waters for future cryptocurrency adoption.
And there have also been examples of delivery hubs being created that accept cryptocurrencies. Pizza For Coins is one such example, but there are plenty more retailers that look set to adopt the process soon.
Much like other examples on this list, adopting cryptocurrency makes the entire process of purchasing and ordering that much simpler.
These are just a few examples of the industries that are on board with cryptocurrency in 2020. As time goes on, we can expect to see more and more businesses do the same.