When the digital coin revolution started in 2009, no one would have believed it would be a big thing. Thirteen years later, more than 6,000 cryptocurrencies are available today.
Nowadays, it is common to find a Litecoin casino that accepts digital money from punters. Several industries have also moved away from only trading cryptocurrencies and accept them as a payment method.
Here are some of the top industries that use digital monies:
Gambling
One of the first industries that adopted Blockchain technology was the online gambling industry. Research shows that more than 50 percent of every bitcoin transaction is observed in online games.
The international iGaming industry is expected to reach as much as $565 billion this year. Cryptocurrency will undoubtedly account for a considerable portion of this huge sum.
This is because cryptocurrencies allow people to easily access online casinos from locations where they are banned. Digital money also takes anonymity seriously, and punters can make deposits or withdrawals without giving away personal details.
Fashion
Blockchain technology has also disrupted the beauty/fashion industry. This includes developing systems within the industry and how they commerce extensively.
For instance, cryptocurrency has facilitated the development of a P2P platform where users can purchase beauty and fashion items. They would carry out unlimited commerce with several parties and enjoy exclusive deals found nowhere else.
Retail market
The number of eCommerce stores that accept digital coins keeps growing annually. For instance, every United States resident uses cryptocurrency to purchase goods or services from Walmart and HomeDepot through the Alegoria app.
Dell, PayPal, multiple online stores of Amazon, and several international firms have pitched their support for digital money as an acceptable payment method.
Banking
Digital coins have no clear-cut regulations, making some banks wary. However, a handful of banks are no longer aloof and have jumped into what may result in crucial dramatic changes down the road.
For instance, Julius Baer, one of the largest private banks in Switzerland, provides its numerous clients access to several cryptocurrency assets. This is possible due to the partnership with SEBA Crypto AG, one of the premier crypto banks in the country.
USAA, located in the United States, was one of the first financial institutions to pilot the integration of digital money. Using crypto assets, customers can invest, transfer funds to other bank accounts, pay for insurance, etc.
The FDIC (Federal Deposit Insurance Corporation) insures deposits and offers investors an ultimate guarantee for the safety of their crypto funds.
Conclusion
More and more crypto-friendly organizations and services are becoming popular. This trend is significantly enhanced by international industries that continue to advocate for cryptocurrency.
Since this development shows no sign of slowing down, it simply means that digital money is here to stay. In the long run, more industries are expected to join the others, and crypto-payment service providers will soon have their work cut out.
Top Industries That Use Cryptocurrency is a feature post
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