Recently, the market has faced warnings about the cryptocurrency market. Some cryptocurrencies, such as Luna, and a crypto bank such as Celcius Network, have been considered a “massive blowup risk” by specialists. Responding to the crypto market risk, retailers began to accept bitcoin as a payment method. Starting to use your bitcoins may be the wisest way to invest.
Cryptocurrency has been widely accepted for online services and entertainment. This might even include the best online casino and the massive entertainment available on its websites. It means you can have unlimited fun while avoiding the wild ride that the crypto market can bring.
Media outlets also have taken bitcoin as a payment method for services like subscriptions. According to Investopedia, it started with the Chicago Sun-Times in 2014, which was the first publication of notability that accepted bitcoin as a valid payment on its platform.
E-commerce Is Ready for It
Several companies online accept bitcoin on their websites, and it includes mostly tech products and services, such as Newegg, AT&T, and Microsoft. Actually, Microsoft accepts bitcoin only at its online store and doesn’t allow advertisements promoting crypto-related products on its site.
Back in 2014, Overstock was one of the first sites to accept bitcoin as a payment method. However, the volatility of the crypto universe is still an issue to overcome and hampers the acceptance of many notable holdouts, such as Amazon. This world’s biggest online retailer claims it had no plans to engage bitcoins on its services. Not yet, it seems.
Since 2017, after a run-up in bitcoin prices in 2017, another giant of the online industry, eBay, considered the use of cryptocurrency on its platform. However, the relationship between this platform and cryptocurrencies has been confusing. Back in 2019, the company had made several advertisements for cryptocurrency. In the meantime, it does not approve cryptocurrency-based transactions so far.
Insurance Is Moving Cautiously
The insurance industry has moved cautiously in regard to embracing cryptocurrency acceptance. The Swiss insurer AXA recently announced that it had begun accepting bitcoin as a mode of payment. Metromile also accepts bitcoin for premium payments. However, life insurance is still off-limits mostly due to regulatory issues.
Get started now
The range of products and services you can get with bitcoin is probably wider than you think. Also, the list of goods and services grows daily as people and sellers get more comfortable with virtual services and payment methods. It is important to keep in mind that for buying things with cryptos, it is necessary to get a debit card. The cards will allow you to withdraw cash from participating ATMs, for example, and it is easy to find on major crypto exchanges.
Once you get your Bitcoin debit cards, for example, you can use it much like regular prepaid debit cards. But remember to preload it with bitcoin or another cryptocurrency of your choice. Thus, when you use your card, the money is paid to the store.