For most people, cryptocurrencies are simply an investment, a way to reap profits by buying low and selling high, but an increasing number of merchants and services are accepting payment in crypto.
The shift to practical and everyday use is motivated by some factors. Some of them are increasing adoption, reduced transaction fees and the direct nature of transactions, which gives traders access to a potentially larger consumption base. All of this without the traditional geographic limitations, just like a digital bank does.
Let's take a look at some of the industries that are leading when it comes to adapting to the new economy.
Travel and Tourism
The travel industry itself is a global industry, which makes it perfect for accepting cryptocurrencies. Some major travel agencies like Expedia, CheapAir and BTCTrip are already accepting cryptocurrencies as a form of payment.
In fact, BTCTrip is just for travelers and customers who want to pay using Bitcoin. As the adoption of cryptocurrencies grows, options for the area are increasing exponentially.
For example, More Stamps Global is an online travel agency based in Hungary that accepts many of the most popular cryptocurrencies, including BCH, Dash, ETH, BNB and LTC, among others.
Overstock was one of the big online stores to start accepting Bitcoin payments in 2014. Since then, its model has been followed by competition like eGifter, Newegg, and any company that uses Shopify's payment solution for its online activities. This latest development means that the number of places you can spend your crypto is in the hundreds and growing every day, making it easier for your users to make money on the internet.
Shopping voucher companies like eGifter or Gyft also allow the purchase of cards with Bitcoin. These vouchers are refundable on Amazon and other stores.