Despite volatility and turmoil in the cryptocurrency market cryptocurrency has been ruling many verticals, including peer-to-peer payment. It has many real-world applications. Given the current expansion and growth, it shouldn’t surprise that cryptocurrency will soon dominate every industry.
A well-known cryptocurrency entrepreneur and crypto evangelist says that cryptocurrency has opened up new opportunities for him. He said, “What cryptocurrency did was something interesting. It allowed me to contextualize my life and opened up new semantics for many business concepts. It helped me connect the dots and see the common thread of all my ventures.
The life of many has been transformed by cryptocurrency. Let’s take a look at a few of the industries that already use cryptocurrency.
1. Real Estate: Blockchain has made it possible to buy property using cryptocurrency. Propy.com, one such website, facilitates the purchase and sale of property using cryptocurrency. MyCoinRealty.com, another website that advertises homes that are available for purchase with bitcoin, is also available. Many people around the world have shown leadership by purchasing their land and homes in every corner of the globe with bitcoin.
2. The Travel Industry: This is another exciting area where cryptocurrency is accepted. Cheapair.com, which accepts bitcoins for booking hotels, flights and cruises, is an example. A bitcoin-sponsored tour is now possible.
3. Education: In accepting cryptocurrency as a payment method, the education sector is not behind. As the first institution to accept bitcoin payments, the University of Nicosia in Cyprus was accredited. The league was eventually expanded to include The King’s College, The University of Cumbria, and The European School of Management and Technology, Berlin. The two most recent additions are FPT University in Vietnam and Lucerne University of Applied Sciences and Arts, both in Switzerland.
4. Gaming Industry: Cryptocurrency offers new opportunities for publishers and game developers. Some online games allow transactions in cryptocurrency. However, ORB Project allows its players to convert their in-game cash into digital assets.
5. Retail – The retail industry now accepts cryptocurrency as a means of transacting. Overstock, an online shopping site that is well-known for its ability to accept Bitcoin payments for goods it sells, allows customers to pay with Bitcoin.
6. Fast food restaurants – They are actively encouraging cryptocurrency acceptance. Subway, a well-known fast food restaurant, accepts cryptocurrency as payment. You can also get a cup at Snakes and Lattes in Downtown Toronto by paying the bill in Bitcoin. Pizzaforcoins accepts crypto payments too. They accept nearly 50 types of cryptocurrency, which is amazing.
7. Social Media: Gone were the days when you could only express yourself on social media. There is more to social media than that. Social media has advanced to the point that you can earn through it, regardless of whether you are jobless or seeking an additional income. Many social media sites offer this option. Vanywhere uses blockchain technology. It’s a platform for gig monetization that uses blockchain technology to connect people with specialized skills and those who need that skill-set. Only cryptocurrency transactions can be made on this platform.
Other than the ones listed above, there are many other industries that have also gained popularity in the crypto space. Now we have a clearer picture of the many uses cryptocurrency can make, not just for crypto entrepreneurs and crypto evangelists, but for the entire crypto community.