This is the digital era where we are becoming more and more dependent on technology.
Whether it is AI or blockchain, it is inevitable that the social and industrial norms are changing around technological advancements.
For instance, industries like games and hospitality are now accepting Cryptos! According to ccn.com crypto-gaming and crash gambling are turning the tide for crypto business.
Five countries including El Salvador, Portugal, Singapore, Malta, and the United Arab Emirates have already adopted cryptocurrencies.
The truth is cryptocurrency is primarily growing worldwide. Some other industry hotspots like the USA, Switzerland, South Korea, and Japan are also adopting cryptocurrencies. But, how cryptocurrency is altering the business procedure will blow your mind.
Every industry today is now focused on scalability. And when it comes to scalability you just cannot avoid emerging digital currencies.
Whether it is Bitcoin (BTC) or Ethereum (ETH), industries are now likely accepting most if not all of them! In this article, we will introduce you to 7 industries where cryptos have been most adopted.
- 1 How Widely Is Crypto Accepted As A Form Of Payment?
- 2 Industries Where Cryptos Have Been Most Adopted
- 3 Conclusion
How Widely Is Crypto Accepted As A Form Of Payment?
Most of the economically leading countries have already started accepting cryptocurrencies as an authentic payment method.
The concept of mining and exchanging cryptocurrencies is still opaque to most of the world; however, people are becoming more educated about cryptos and it is fueling the digital revolution.
With more advertisements and media attention, people are now becoming more familiar with cryptocurrencies.
From the banking sector to the education sector, all prominent industries have taken a significant role in accepting digital currencies.
So, if you are still wondering whether crypto will be accepted as a form of payment in the future, the future is here! Crypto is now well-recognized as a form of payment and turning into a mainstream financial asset.
Industries Where Cryptos Have Been Most Adopted
No wonder why the new generation is more into crypto mining. The number of crypto traders and miners is increasing every day. It is the next financial bubble everyone is eyeing for.
If you are also mining crypto, the good news is that you can use this digital asset to trade in different business sectors. Here are some of the popular industries where crypto has been most adopted:
1. The Gaming Industry
Microsoft Crypto Wallets are available on Xbox! Yes, crypto gaming is no joke. Now gamers have a unique opportunity to earn their favorite cryptocurrencies while gaming.
They can also trade with cryptos they have earned! Cryptocurrencies are snatching popularity for the online casino industry and crash gambling.
As the gaming industry is booming, it can be speculated that the demand for crypto transactions will increase in this industry shortly.
2. The Banking Industry
The use of cryptocurrencies is reshaping the banking industry overall! It’s true! Prominent banks worldwide are now ‘forced’ to accept cryptocurrencies as they can no longer avoid the rise of digital currencies.
However, cryptocurrency transactions are decentralized and that may raise a question of security.
When some countries asked their banks to take the risk willingly, countries like China launched their own centralized digital currency and encouraged people to use their country’s digital currency and wallet instead of other decentralized cryptocurrencies.
3. The Real Estate Industry
It may sound awkward, but the commercial real estate industry is more interested in cryptocurrencies than ever.
The tide for cryptocurrency usage is slowly turning towards positive with the support of powerful real estate industries worldwide.
The buying and selling process of properties on foreign soil is long paperwork and that comes with tokenization and fat commission rates.
The use of cryptocurrencies to buy or sell real estate is making the process smoother for both parties but cutting off the side hustles.
4. The Healthcare Industry
The healthcare industry is a giant industry and acceptance of cryptocurrencies in healthcare is truly a game changer! Crypto and blockchain are now truly invading the healthcare industry around the world.
Private healthcare centers around the world are already accepting cryptocurrencies generously; however, there are more opportunities to grow.
5. The Travel Industry
AirBaltic, Norwegian Air, and LOT Polish Airlines are already accepting cryptocurrencies proudly.
The acceptance of cryptocurrencies in the travel industry is making the ease of planning long voyages around the world smooth.
Travel booking giant Expedia marched in and pioneered the way of introducing cryptocurrencies in this industry.
6. The Digital Advertising Industry
Tech giants are making their assets by investing a lot in the advertising industry. It is not a surprise that the advertising industry will adapt to cryptocurrencies sooner or later.
Moreover, cryptocurrency transactions come with the improved data security of blockchain technology.
Hence, the inclusion of cryptocurrencies in the advertising industry is a very important move for the security of marketing services.
7. The Education Industry
The Education industry is one of the most important industries of all.
Higher education today requires a lot of investment and accepting all types of digital currencies including cryptocurrencies is just the best way to cater to the path of the self-dependent students who are pursuing higher education.
Western Australia’s largest university, Curtin University, has launched the Cryptocurrency Ph.D. Scholarship fund for aspiring students!
This also encourages cryptocurrency traders to invest in research projects for the improvement of blockchain technology.
In the end, it may surprise you but some NFL teams like NFL’s Miami Dolphins, NBA’s Dallas Mavericks, Major League Soccer’s San Jose Earthquakes, and NHL’s San Jose Sharks are all accepting their payments in cryptocurrency!
Even popular dating sites like OkCupid have been accepting Bitcoin as their payment method for quite a long time now.
In short, the world is ready to accept digital currencies more than you know! The real question is, are you ready to invest in cryptocurrency?