Bitcoin has been around since 2009. Many people have heard of the wild success and profits accrued by the cryptocurrency’s investors and decided to “hop in” and earn some money. But earning people profits was not the real reason why Bitcoin was developed. Launched by Satoshi Nakamoto, Bitcoin was designed replace or compliment fiat (real money). The cryptocurrency is faster, cheaper, more private and safe in comparison to fiat.
As far as true adoption goes, this famous cryptocurrency is far away from being considered “widely adopted” in the retail space. However, the adoption rate is rising exponentially year by year. If the scaling solutions get implemented on time and the general public responds well to it we can see some massive adoption of cryptocurrencies in general, but mostly Bitcoin and Litecoin in many industries and companies. So far, most of the companies just try to seek a marketing edge, a 5-minute spotlight thing, by announcing Bitcoin acceptance in their business as a means of payment but after the scaling solutions are set, there will be more companies accepting it for the convenience rather than for “following trends” or a few minutes of fame.
Companies and payment
Many companies are trying to reach out to customers in any and every way possible since this market is very volatile and marketing and branding mean everything. With Bitcoin being a brand and having a massive following behind it, many smart companies decided to make some profits as well as create appeal to the Bitcoin following masses by accepting the cryptocurrency as a form of payment. Companies that include Bitcoin as a means of payment or include words “crypto” or “blockchain” somewhere in their business usually witness a surge of followers, buyers and supporters, which makes it very appealing to use this technique to increase the revenues. In this fierce market, anything is allowed.
Why Bitcoin isn’t used as much as a currency
The main problem of this cryptocurrency at the current state is the adoption rate and the scaling discrepancy. Too many people are using bitcoins and its blockchain network becomes clogged. This makes Bitcoin slow and expensive, which makes him a bad means of payment.
BitGear is one of the first clothing lines to design materials with bitcoin signs in them. You can find shirts, hats, pillows, and even mugs and phone cases with Bitcoin signs all over them.
Bridget Bunchy is one of the few unique and independent stores that offer some beautiful scarves, leather jewelry as well as accessories to compliment your outfits. The company designs and makes the clothing and accessories themselves, so you are sure you are wearing an amazing limited-edition accessory.
This company makes some amazing and unique jewelry made of rare stones and metals. It is a historic American families’ jewelry store, which means you can get some traditional native American-like jewelry made of premium materials.
Joli Originals uses premium leather to make amazing sleeves for MacBooks, IPads and phones. It also makes wallets out of the same amazing premium leather, making your money never feel so comfortable!
Various car dealerships
Finally, no one can argue that a car can turn heads. With Lamborghini embracing the concept of crypto payments first, many follow. VW group decided to embrace blockchain technology, as well as Mercedes, but we will have to wait a bit more to buy these with our sweet Crypto gains. So far, there are a few places
You can buy a car with Bitcoin In one of these places:
· Ford dealership in Dallas is offering to sell their cars for Bitcoin
· Tesla in Orange County, California.
· Lamborghini in Orange County, California.
· Overland Park Jeep, Dodge Ram Chrysler dealership in Overland park offers bitcoin as a means of payment as well.
· Many other car dealerships and resellers, mostly located in the US.
Bitcoin has yet to be accepted in full, but it is slowly getting there, one accessory at a time. Once the scaling solutions start working, it will become a valid means of payment which is better than credit cards in many ways because of its better safety, privacy, cost and speed. But so far it is waiting in the backline.
For now, it is all up to the developers to give their best on improving the crypto retail connection and the implementation of crypto into the industries around the world. As far as the payment methods industry goes, it is one of the more conservative industries when it comes to accepting new forms of payments. Thanks for reading the article. Visit our site often to find new, intriguing content.