Top 5 Utilizations of Cryptocurrencies in Different Businesses

Top 5 Utilizations of Cryptocurrencies in Different Businesses

Cryptocurrency has become another normal currency in our life. It is no longer seen as this new thing that just hit the market and that not a lot of people know about or know how to use it. In fact, more and more people are using crypto in their daily life and businesses are seeing that their customers want the option to be able to pay by crypto.

This has resulted in several businesses accepting payments made in crypto, which has contributed to the growth and popularity surrounding the currencies.

If you have recently started investing in crypto and want to see what kind of businesses use and accept these kinds of payments, stick around and keep reading!

Gamble with crypto

Several casinos have started accepting cryptocurrency, especially after seeing the major benefits that it brings along. The best and the leading crypto casinos around the world have added crypto as another payment method due to the following reasons:

  • Thigh-knit security – when you pay using traditional modes of payment, there is always the risk that someone might steal your money or your card details. But this is not the case for paying with crypto. You can rest assured knowing that your money is safe since it is stored in the blockchain which is impossible to hack;
  • Anonymity – if you want to keep this little side hobby a secret from your friends and family, then gambling with cryptocurrency is your best and safest bet. There is no way the transactions you conduct can ever be traced back to you. This means that whether you authorize one or one hundred transactions, no one will know that it was you who made those transactions;
  • Decentralization – when you use traditional cash for gambling, your funds pass via a centralized entity, such as a bank or the government. However, when you use a cryptocurrency for gambling, there is no mediator involved and money is moved straight from one person to another. As a result, it is both quicker and more effective than conventional techniques.

Furthermore, because each payment is decentralized and avoids a middleman, BTC casinos have significantly lower fees for both deposits and withdrawals. Although there will still be fees associated with bitcoin transactions, they will be much lower than any fees associated with traditional banking.

Pay for your next luxury hotel stay with crypto

That is right, several lavish hotels around the world have started accepting cryptocurrency payments! So, next time you are planning a weekend getaway, have a look at the hotels in your area and see if any of them accept crypto.

Or, the next time you are going to another country for a holiday, have a look at the finest hotels the country has to offer. Below are some of our personal favorites that allow crypto payments and are absolutely beautiful to stay in.

Palazzo Versace, Dubai

The luxurious Palazzo Versace Dubai just started taking cryptocurrency payments via the Binance payment system. This comes after its collaboration with the largest bitcoin infrastructure provider in the world. For eating, lodging, spa treatments, meetings, and events, visitors to the 5-star hotel, situated in the Culture Village by Dubai Creek, now can pay in Bitcoin, BNB, and Ethereum.

The magnificent high-end hotel, which is styled like an Italian palace from the 16th century, will also accept cryptocurrency from visitors via its eCommerce platforms to purchase gift certificates. Integration of online payments will be the next phase to launch soon.

We are sure you could afford to stay there for a few nights, right?

Chedi Andermatt, Switzerland

To facilitate Bitcoin transactions, the Chedi Andermatt in the Swiss Alps has teamed with Worldline and Bitcoin Suisse. This five-star hotel now accepts payments starting at CHF200.00 in both Bitcoin and Ethereum for guest stays. The Chedi Andermatt’s general manager, Jean-Yves Blatt, said that the hotel is accepting this payment method to show its guests that they welcome new technology that allows their guests a safe and secure payment option!

Stir your coffee with crypto

Starbucks now allows direct Bitcoin payments from consumers owing to a collaboration with digital wallet service provider Bakkt. Additionally, clients may already exchange their cryptocurrency holdings on PayPal into fiat money prior to updating their Starbucks applications.

While you cannot use Bitcoin to purchase iced caramel lattes in-store, you can add it to the Starbucks app along with other payment methods like gift card balances and frequent flier points.

Fund your next property with crypto

In the same way, you would use your national currency to buy a house, you can now do it with crypto. The process is the same throughout, the only difference is the payment option.

There have already been people around the world who have bought homes using Bitcoin. For example, a penthouse in Miami was sold for $22.5 million using Bitcoin, making it the largest bitcoin transaction the real estate industry has seen.

We common folk cannot afford to buy such expensive houses, however, it is possible to buy any kind of property you want with crypto, as long as the realtor accepts that kind of payment.

Buy the hottest car in the market

Yes, it is possible to purchase a car using a cryptocurrency like Bitcoin. Just as a warning, it probably will not be as simple as getting a vehicle loan or buying one from a dealer, though. There are ways to purchase a car with your digital money, even if you might not be able to go into certain dealerships and buy a Ferrari right this moment.

The simplest way is to buy a car from a shop that takes debit cards. After that, you may purchase a car with a crypto debit card.

One of the cars you can buy is the Bugatti Chiron Super Sport, which can speed up to 300 mph, with a price of $3.1 million.

Concluding thoughts

With crypto becoming such a normal and common part of our lives, it comes as no surprise as more and more businesses have started accepting payments using this currency. As crypto continues to grow in popularity, who knows what other businesses will start allowing us to pay with the currency?

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