spend cryptocurrency

There are more and more companies in the world where you can spend cryptocurrency

Bitcoin is still considered a popular means of payment for goods and services. Back in 2015, the volume of transactions in BTC network exceeded the same indicator of Western Union payment service. At the beginning of 2019 the number of companies accepting cryptocurrency has significantly increased.

Some firms accept cryptocurrency directly and some accept it through special services. Among them there are well-known marketplaces Amazon and eBay, AirBaltic air carrier, PayPal payment system and many others. The number of Bitcoin companies in the United States is growing very rapidly. In particular, digital assets are legally recognized as fiat (ordinary) money in Texas. Small firms are happy to make fast payments, as the country’s banking system is slow and transaction via conventional channels can take several days. Not only bars and restaurants are known, but also car dealerships where you can pay with cryptocurrency. In the U.S. state of Ohio, since the fall of 2018, there was an option to pay taxes using cryptocurrency. This experience was interesting for some other US government agencies. Therefore, Bitcoin goes into the category of means of payment recognized at the official level.

In general, payment by digital assets takes place in three ways — by scanning the QR code, transferring the currency in the application to the specified wallet or through intermediary companies and services. On the Internet there are special platforms to search for organizations, accepting cryptocurrency. The most popular of them is successful among more than 100 thousand customers.

The number of countries where you can spend cryptocurrency is growing

In Japan, cryptocurrency is accepted on almost any website along with VISA and Mastercard cards. Czech Republic is also loyal to digital assets. One of the experimental projects in the country is BitcoinCoffee. Only BTC are accepted in this institution. There is also a pizza delivery, where you can pay 50 koin from the TOP-100. The American giant KFC has to accept DASH in Venezuela. This is much more reliable than taking a sovereign bolívar, depreciating in front of the economic crisis. Also, cryptocurrency in the form of tuition fees accepts a number of universities — in Cyprus, Germany, the United States and Switzerland.

A funeral company in Minnesota gives discounts on funeral services to everyone who pays in cryptocurrency. The use of blockchain and digital assets in the field of charity becomes popular. Funds are often accused of corruption and misuse of funds. This issue is easy to solve by tracking all transactions in the blockchain ecosystem.

Cryptocurrency is also a means of saving money from hyperinflation in some Latin American countries. In Venezuela, in particular, virtually all free finance is invested in digital assets. Back in January 2019, Bitcoin was the most popular until the government attempted to track BTC-transactions on the blockchain. After that, DASH became the most popular currency in the country.