Not too many years ago there were visionaries and analysts who dwarfed the idea of a cashless economy. At the time, several people doubted how this would be possible. Others simply couldn't see beyond the challenges of such a vision.
In a country like this, the idea of a cashless economy is gradually becoming a reality. However, the challenges involved make it difficult for us to fully achieve the dream.
These challenges include, above all, the uncertainty in cashless transactions. For example, both the customer and the seller are not secure when using a credit card to pay for online transactions.
On a positive note, an invention that brings us closer to the dream of a cashless economy is cryptocurrency. This is a digital currency that requires expertise in regulating its use and production.
The motivation for its development was that currencies are decentralized and cannot be regulated by any authority. What many people know as Bitcoin is simply a form of cryptocurrency.
One of the biggest criticisms of cryptocurrencies is the inability to use them for everyday shopping. The simple explanation is that the world is still getting used to the reality of this currency.
Due to the fluctuations in value, most companies like convenience stores are still not ready to accept this as a payment method. However, there are other early users of technology. This article describes some online setups that accept bitcoins as a payment option.
Online gambling and gaming sites
Those in the gambling industry will tell you that the only thing they hate about this business is how the government is always in their case. They also yearn for liberation from the government's invisible hand. As you can imagine, this industry is one of the largest users of technology that protects them from excessive government interference.
Cryptocurrencies, especially Bitcoin, are one of these technologies. As mentioned earlier, this currency is decentralized and therefore not easy for governments or financial authorities to control.
Therefore, this has become a common payment method for most online casinos and game sites. According to this review from OnlineCasinoGems, Cafe casino is a prime example of online gambling sites that have adopted this payment method.
There is another reason why online gambling sites love Bitcoin. If you use this currency to place your bets or play poker, the government cannot tax your earnings. This is definitely a win-win situation for you and the gambling side. How about defeating Uncle Sam?
This is one of the huge online retail stores. There is a high possibility that you have bought furniture, clothing or kitchen utensils from them. Their large selection of items makes them a popular online shopping destination.
According to USAFacts, OverStock was one of the first in 2014 Online retailer Accept the use of bitcoins as a form of payment. This is part of their competitive strategy to keep their top spot. As an early user of Bitcoin, many online buyers will certainly influence their way.
This is a good strategy to stand out from the other competitors. So if you have bitcoins that you want to spend, you can give your house a new look. You can even surprise your partners with amazing items, including jewelry.
Make online donations
Do you feel beneficent? Charitable donations are one of the ways to change the world today. There are so many nonprofits that you can donate for a positive impact.
Where does Bitcoin come up with this picture? What you probably don't know is that with this cryptocurrency it is possible to track its movement. Therefore, you can easily trace it back to the end to make sure that it is used for the non-profit organization you donated to.
On the other hand, a donation to a charity with Bitcoin will help you keep your donations anonymous. This is a relief for those people who are not looking for recognition for charitable activities. In addition, anonymity doesn't mean you have to worry about the possibility of identity theft. Some of the charities you can donate with Bitcoin are:
- Red Cross
- Save the children
- The water project
As you can imagine, e-commerce platforms should be among the largest users of cryptocurrencies. However, the level of acceptance in this group was significantly below expectations. However, according to analysts, many people are left skeptical of cryptocurrency technology,
One company that has decided to take the risk of better rewards is OpenBazaar. The interesting thing about them is how they have completely decentralized their operations. According to Statista, it is actually a peer-to-peer platform that aims to eliminate middlemen E-Commerce Transactions.
Given this goal, there is no better way to achieve decentralization than to use a decentralized currency. In this case, they have accepted Bitcoin as the payment method on this website. Therefore, you can order products or services on this website and pay conveniently with Bitcoin.
Buy online gift cards
The thing about innovation is that it will always find ways to meet the challenges it poses. According to PwC, it is Cryptocurrency Technology has similarly found ways to address the challenges facing its introduction to the e-commerce sector. Don't you just love that?
What if I told you that with Bitcoin you can still buy products indirectly in online stores like Amazon? A common feature of these stores is the acceptance of gift cards that can be redeemed for a certain value. These gift cards are obtained from websites such as eGifter, Bitrefill and Gyft.
Most of these websites allow you to use Bitcoin to purchase these gift cards. How about that for convenience? If you have Bitcoin and want something from Amazon, just buy a gift card and redeem it there.
Time to spend your bitcoins
As the world continues to innovate, it's important that you don't lag behind when it comes to launch. There are so many reasons why you should be among the first to use technological innovations.
In this article we noticed that the world is slowly adapting to the phenomena of the cashless economy. So don't be afraid to spend your bitcoins to meet your daily needs.