Bitcoin Payments Archives - 2100NEWS

Guest authorJune 19, 2020
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1min394

Do you own Bitcoin? Do you buy with it, trade it, perhaps gamble with it?

 

The oldest, biggest, sturdiest cryptocurrency still rules over the crypto world however even the digital giant felt something when the COVID-19 pandemic began in March 2020. Charts swayed and some of the biggest Bitcoin enthusiasts were filled with doubt but don’t fear, Bitcoin is well.

 

For those of you who are considered experts in the Bitcoin community and everyone following Bitcoin’s price fluctuations for the sake of your own coin’s future, you probably already know at least some of the information pictured below. To get a better grasp of what was going on with Bitcoin during the pandemic and where Bitcoin is now, see the following infographic, courtesy of Gamblineers: Bitcoin vs. Covid-19 – Bitcoin’s journey through the COVID-19 pandemic.

 

 

 

Guest author: Rok


Guest authorMarch 25, 2020
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5min729

Cryptocurrency has become a global phenomenon, and it is a form of payment widely accepted today by many online and offline merchants. Two decades ago, this was not the story; cryptocurrency was initially written off as a scam project or something that would not stand the test of time.

The digital currency is proving doubters wrong, as more people gravitate towards cryptocurrency use and trading. In the year 2018, only about 21% of adults in the U.S had no idea what cryptocurrency is. As the cryptocurrency wave continues to sweep through the globe, even businesses are beginning to see how important it is to incorporate it into their payment system.

 

Cryptocurrency and Bitcoin: Do They Mean the Same Thing?

A 2019 Yahoo report states that there are approximately 2,957 cryptocurrencies available as digital currencies. While most of these currencies are not known to many, a digital currency like Bitcoin is probably the first thing anyone with interest in the crypto world would come across. Some people even find out about Bitcoin before understanding that it is just one of the many cryptocurrencies.

As the first cryptocurrency to hit the blockchain technology, Bitcoin accounted for over 66% of cryptocurrency value as at the end of 2019, and its acceptance all over the world continues to rise. Ryan Radloff, using data from Coinmap shows a 702% increase in worldwide acceptance of Bitcoin and key statistics reflect that there is over 17 million Bitcoin circulating in the digital currency market.

These statistics are astonishing, but what most people really want to know is “where is Bitcoin currently accepted?” and “who is currently accepting Bitcoin?’’

 

Who Accepts Bitcoin Today?

An increasing number of countries are beginning to embrace the acceptance of Bitcoin, as more than 11 currently allow it as a means of conducting business transactions. Almost all types of industries accept the digital currency in their business transactions today.

Worthy of mention are:

  • AT&T
  • Expedia
  • Microsoft
  • Burger King
  • Subway
  • Namecheap, etc.

Online stores are not left out of this new trend, too, Bitcoin.Travel, Pink Cow in Tokyo, Zynga, vendors of Etsy, Jefferson Store, MIT Coop Store, Shopify, and many others are among stores that accept the virtual currency.

SpendMeNot has provided a detailed list of over 120 companies that currently accept Bitcoin as a means of payment, and it’s definitely worth checking out.

 

 

Conclusion

Some years ago, Bitcoin was seen as just a form of investment. Today, it is way more than that. Businesses that incorporate the use of Bitcoin in their day-to-day transactions have increased their customer base considerably, as a lot of people are more comfortable making payments with the cryptocurrency.

This preference is mostly by consumers who are aware of the digital currency’s purchasing power and are cautious of cyber-attacks. Though Bitcoin still has a lot of ground to cover (in regard to its acceptance), its adoption is growing daily, and it is just a matter of time before it is accepted everywhere on the globe.

 

Guest Author: Stefan Ateljevic


UrbanOctober 3, 2018

4min281

Beijing Sci-Tech Report (BSTR), the oldest technology publication in China, has recently announced that it will soon accept Bitcoin on its platform.

Starting 2019, BSTR will sell its yearly subscription at a price of 0.01 BTC, worth around $65. In an official press release, the publication emphasized that it plans to promote the usage of blockchain technology in a “real-world setting for practical actions,” by integrating the most dominant cryptocurrency in the market.

Questionable Timing

The announcement of BSTR to integrate Bitcoin into its platform comes in a period in which cryptocurrency trading and usage in China remain strictly banned.

Since September of last year, the government of China and local financial authorities have banned individual investors from investing in cryptocurrencies on both crypto exchanges and over-the-counter (OTC) platforms.

By imposing a blanket ban on digital asset investment, local regulators prohibited financial institutions, banks, and fintech payment networks like the $60 billion Alipay to censor transactions linked to cryptocurrency trading platforms.

Hence, the decision of BSTR to accept Bitcoin as a payment method suggests that the crypto sector of China still remains active after the ban implemented by the local government.

Recently, as CNLedger, a trusted news source in China reported, a hotel in China has started to accept payments in Ethereum as well, targeting a niche market within the country that is actively utilizing and trading cryptocurrencies.

“Ethereum Hotel, China’s first hotel that accepts $ETH as payment, is ready to open their business in National Scenic Area of Four Girls Mountain (Sichuan Province).”

Previously, in an interview with SCMP, Hong Kong-based cryptocurrency exchange TideBit chief operating officer Terence Tsang stated that while the government has crackded down most exchanges that are operating in mainland China, investors are trading digital assets in overseas markets like Hong Kong.

“The latest warning and potentially increased monitoring of foreign platforms is targeted at a batch of smaller exchanges that had claimed to be foreign entities, but are in fact operating in China claiming they have outsourced their operations to a Chinese company,” he explained.

With the emergence of fully audited stablecoins like Gemini dollar and PAX, it has also become possible for Chinese traders to purchase stablecoins through overseas markets and utilize international cryptocurrency-only exchanges to freely trade digital assets.

An exchange insider said that to fully crackdown on crypto trading, the Chinese government will have to ban the usage of VPN, which is very difficult given that VPNs operate outside of China.

BSTR is Serious About Bitcoin Adoption

The publication has said that if the price of Bitcoin increases exponentially by 2020, possibly to $250,000 as billionaire investor Tim Draper previously said, then it will offer customers that purchased its subscriptions at a rate of 0.01 BTC.

The refund policy implemented by BSTR demonstrates the intent of the publication to integrate Bitcoin solely to encourage the usage of digital assets and promote blockchain technology.



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