Cryptocurrencies are more than just tokens, there is a whole world of utility within just the word. Cryptocurrency made its start in the financial sector, thanks to Bitcoins’ P2P payment system, but has expanded beyond the confines of money. We have seen supply chains, images, the medical industry, and more benefit from the power of blockchain technology and the fast-expanding world of crypto.
How Crypto Is Changing The Way We Work
Cryptocurrency was originally designed to go against what society claimed to be the norm, bypassing the need for government or third-party intervention. Users could interact directly with the product and save money on fees, save time with speed, and ensure their digital safety with heightened security. The limits for cryptocurrency, aside from internet access, have yet to be reached as they approach even more industries.
As the Metaverse becomes a reality, we are more likely to see cryptocurrency succeed, providing digital payments within the digital world. You don’t have to wait for the Metaverse to see the difference cryptocurrency is making, as it continues to evolve every project or platform using it. Now cryptocurrency is taking on travel and retail.
Cryptocurrency In Retail
It makes sense that a lot of retail providers have turned to cryptocurrency as opposed to traditional banking, as speed, cheap fees, and security are ensured. We have seen an increasing amount of mainstream product and service providers embrace cryptocurrency. The more crypto is accepted, the more adoption it will see.
Right now, Bitcoin and other cryptocurrencies can be used at retail providers such as:
- Burger King
- Virgin Galatic
- And many more
While cryptocurrency is still used as a financial asset within the retail space, there are still some added benefits. The transparency of blockchain technology means rewarding tracking and distribution is easier and more transparent. You can also use crypto to make faster and cheaper anonymous payments.
Even if your preferred retailer does not accept cryptocurrency, PayPal allows you to hold crypto in their wallet, which you can use to make payments. This expansion of cryptocurrency can also be seen in the travel industry.
Traveling With Crypto
As already stated, CheapAir began accepting Bitcoin in 2013 and has now branched out to accept multiple other cryptocurrencies. CheapAir is an American online travel agency that allows you to find the cheapest flights. CheapAir is already prioritizing your savings, so their choice to accept crypto makes sense.
Travala is another great example of cryptocurrency travel succeeding, having accepted Bitcoin as payment since 2021. Travala allows you to book hotels and accommodation using one of their 50 accepted cryptocurrency payment methods. Additionally, their native cryptocurrency token, AVA, also provides benefits and shows how committed they are to the inclusion of digital assets.
This is just the start of the cryptocurrency travel industry, with more and more platforms and providers working on ways to accept crypto. We are still in the early phases of cryptocurrency travel, so it is great to see Travala has already launched its own platform-compatible cryptocurrency. This is just the beginning.
Is Cryptocurrency The Future?
Cryptocurrency is not an easy task to tackle or understand, so it will take some time for others to truly grasp the power it holds. As the mainstream begins moving more toward the potential of cryptocurrency, we will have more ways to spend and enjoy our crypto profits. Strengthening the crypto ecosystem will only become easier as we are provided with more ways to participate.
We are moving into a more digital-centric world, and in doing so need to adapt our methods of payment, cryptocurrency provides a nearly perfect solution. We still have a long way to go, but our path is filled with lots of hope and opportunity as Bitcoin and other altcoins hold the power to speed up the success of these industries.
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