By briefly glancing at the world’s most prominent companies, you can see how much tech has been able to solidify itself at the top of the global economy. Companies such as Apple have tightened their grip on the smartphone and mobile device markets, branching into many other successful endeavors and investments. However, there’s a swell of other companies hot on their heels, and with AI starting to play a far more significant role in the everyday function of society, tech companies like Nvidia appear as if they could be next to take the mantle from Apple within the next couple of decades.
While this is all speculative, one undeniable fact is that technology will continue transforming everything around us. If you speak to a customer service agent at your local bank, it will likely be an AI bot trained to perform basic tasks. Although you can opt to talk to a human, there is more AI investment to turn this into a majority-robot role. With technology permeating other more critical facets of our lives, such as finance, cryptocurrency is part of a cluster of genuinely revolutionary designs that could transform our existence.
Which merchants currently accept cryptocurrency?
Surprisingly, to many people, hundreds of outlets and financial services will allow you to use cryptocurrency. Some will allow you to purchase it via their platform, invest in it or use it to gain interest, also known as staking. Suppose you’re looking for more practical uses. In that case, several retailers will accept specific cryptocurrencies as a form of payment, and a range of betting companies have moved into this territory.
Several examples of the top names in sports betting and casino gaming have started exploring implementing blockchain and cryptocurrency into their gambling service. Some casino companies, such as https://dappgambl.com/, are well-established and understand the market’s potential long before any of their competition. As gambling and gambling tokens become possible new contributors to a potential bull run in 2024, those that set themselves up early enough are set to take the biggest slice of the action.
Rather excitingly, several other potential factors could propel the market to new highs. It’s not just gambling tokens that are making waves; many AI tokens are outperforming the rest of the market, and to top it all off, there’s a Bitcoin halving on the horizon.
While no two bull runs are the same, almost every halving has been followed by positive price action, and if you throw in the Blackrock ETF application, many factors could positively impact the price of Bitcoin and other cryptocurrencies. Once this action generates interest again, it will lead to more companies and retailers looking to accept it as a payment method. Rarely is it one element or factor that will cause such a shift in behavior, but it is a cluster of positive factors working together that will push people toward mass adoption.
How crypto payments work
Although cryptocurrency is on the fringes of the financial world, 2021 was a breakthrough year, with the market cap hitting a record high of over $3tn. Many believe this barrier will be smashed through once more if the variables we’ve touched on today come to fruition and generate a wealth of investment. However, many retail traders want to be able to use cryptocurrencies for everyday transactions.
Despite the whole design of Bitcoin and cryptocurrency emerging as a challenger payment system, millions fail to grasp the relatively basic concept that you don’t need a bank account or a credit card to use cryptocurrency for a transaction. If you have a crypto wallet, which you can set up for free in minutes, you’ll be able to buy cryptocurrency and use it at retailers willing to accept it.
Countries that might be next to accept crypto
Despite retailers like Microsoft and Tesla stating that they’re exploring Bitcoin payment options, the most unexpected turn could come in the form of another country joining the list alongside El Salvador and the Central African Republic as countries where you can use Bitcoin for everyday transactions.
There are several countries in contention, and while none of them might make the enormous leap that El Salvador did back in 2021, given that the market seems to be gearing up for another bull run, there are whispers that some nations are looking to join this list. Some potential candidates include Argentina, Ukraine and Cuba.
While the Central African Republic has a problematic relationship with Bitcoin, given its social and economic situations, El Salvador is a better example of how correct implementation can enhance the financial systems within a country and provide a solid financial foundation for robust change. Although it wouldn’t be too out of the ordinary, seeing any of these countries offer complete cryptocurrency services to their citizens would be an unexpected twist. As decentralization continues to drive changes in app development in industries ranging from tech, finance and sports, the likelihood of a third country joining this list increases daily.
Using crypto as payment in soccer stadiums
The Portuguese soccer team Benfica already allows fans to use their digital assets and cryptocurrency wallets to buy match tickets, kits, scarves and other merchandise. Since the club introduced it a few years ago, soccer fans in Lisbon will have been aware of this; the same applies to the San Jose Earthquakes. However, for soccer fans in England, France and Germany, the idea of being able to use Bitcoin for their club-related purchases would be one of the most unexpected places you’d expect to see a Bitcoin or other cryptocurrency payment option.
Although few clubs have expressed a desire to offer this type of a service, given the potential bull run on the horizon, one of the most unexpected places you might be able to spend your crypto could be at a soccer or sports stadium. In England, if one Premier League team allows fans to use crypto to pay for their goods, then there could be a wave of clubs that follow suit. For stands full of traditional fans, many of whom still use cash, this would be one of the most unexpected places to see Bitcoin and crypto payments become available.
Final thoughts
As cryptocurrency becomes more used and well-known in prominent global economies and businesses, the number of businesses allowing you to use it will continue to swell. The only question revolves around how quickly this change will occur.
A continuation of industries that currently allow people to purchase their goods or services with Bitcoin will be the order of the day for 2024. Whether this will include new countries or specific industries joining this list, we will have to wait and see the sort of exposure Bitcoin gets over the next 12 months.
The number of companies allowing customers to use cryptocurrency to pay for their services will undoubtedly continue to increase. As many economists and those in the cryptocurrency space are under the impression that new, explosive, positive price action is on the way, there’ll be several unexpected merchants who will open up their doors to you if you’re looking to use your digital assets to pay for their services.
