Connect with us

Blockchain

5 Industries Where Bitcoin is A Popular Payment Method

Published

on

The rise of crypto as a form of payment is something to behold. From a seemingly impossible idea to one of the most popular payment methods, Bitcoin has come a long way. It has earned the attention of ordinary people just as much as financial experts.

Thousands of people in different industries have adopted digital currency. Unlike in the past, where it was only possible to trade digital money, it is now used to pay for goods and services. Here are a few industries where Bitcoin has become a common payment method.

1) Online Casinos

The gambling industry has been at the forefront of Bitcoin adoption. The digital currency has been a great addition to online casinos. It promotes anonymity of players, low transaction costs, privacy, and security. Players can transfer coins and start playing no matter where in the world they are. They don’t need to waste any time.

At the moment, about half of Bitcoin transactions are directed to online games. Many of the US online gambling sites shown here accept Bitcoin. They may offer bonuses to promote crypto payments.

The world’s iGaming industry is projected to hit $565 billion by 2022. It is about $72 for each person. Bitcoin will account for a big part of this sum. Here are a few reasons why:

  • The online gambling world is constantly growing, and gamblers are always looking for opportunities to play safely and discreetly. The anonymity is incomparable to any other payment options
  • With Bitcoin, gamblers can access their favorite gambling sites from prohibited locations.
  • The use of blockchain technology makes it possible for users to confirm that all games are safe. Smart contracts power the transactions hence increasing trust levels. It doesn’t leave much room for fraud.

2) The Food Industry

Even though the use of cryptocurrency in the food industry may seem a bit strange, it is happening. The food industry is one of the biggest users of Bitcoin. It promotes seamless payments and transparency in the supply chain. Participants that benefit from Bitcoin include:

Consumers

Consumers are always looking for transparency. Increased confidence promotes loyalty on their part. When blockchain technology is used as a payment method, customers have the assurance that it meets quality standards.

Manufacturers

Blockchain technology ensures that manufacturers have no room to counterfeit products. The transparency that comes with Bitcoin promotes responsible and ethical practices.

Distributors

Distributors can now identify low-quality products and easily remove them from shelves. With blockchain, tracking your supply chain is a fast process. You can complete verification processes almost instantly.

Nestle and Walmart are a few of the FMCG giants that are already implementing blockchain technology. It is now possible to effortlessly purchase food with Bitcoin.

3) Tourism

The tourism industry is one of the fastest-growing in the world. It is no surprise that it would be one of the first ones to adopt crypto payments. It has all the resources for integrating new technologies and solutions. Cryptocurrency and blockchain technology can improve a tourist’s experience significantly. It promotes speedy transactions and makes employees more effective.

The tourism industry features many third parties. Unfortunately, the tourist ends up paying more than they have to. The high number of intermediaries also contributes to overbooking, delays, and other significant problems. With Bitcoin, travel companies can give their clients better experiences.

Even though the world has no clear regulations governing crypto, it has still managed to become a popular payment option. Many banks are open to the crypto world and the potential changes it could bring in the future.

Julius Baer, one of Switzerland’s biggest private banks, will be giving its clients crypto assets access their partnership with SEBA Crypto AG has made this possible.

USAA became one of the first ones to pilot Bitcoin integration in America. With the institution, clients can transfer funds, pay for insurance, or invest. The American Bank Simple now supports cryptocurrencies as well. With the bank, clients can buy and sell digital money. It promotes crypto exchanges as well.

4) Retail Markets

The number of retail markets increases every year. Those that accept Bitcoin payments are constantly increasing as well. Even though some retailers may not be willing to settle accounts in Bitcoin yet, you may be able to handle them with the help of third-party services.

In the United States, Bitcoin is an acceptable mode of payment at Walmart and Home Depot. They are some of the biggest retail stores. The option of paying for goods and services with cryptocurrency is a significant step forward. It promotes speedy and confidential payments.

The payment option, PayPal, online store, Amazon, and computer equipment manufacturer Dell have also expressed their support for crypto payments. With this support, the number of Bitcoin-friendly companies and retailers can only go up. In a few years, Bitcoin may be able to compete with industry leaders like Visa and MasterCard.

5) Music

The music industry has profited from crypto payments, and Bitcoin is the most preferred option. For a long time, content creators have suffered in producers’ hands. Selling content is a hard task even though we are in the digital age. Blockchain, however, has come in and made things better.

It eliminates intermediaries allowing content creators to reap the full benefits of their work. Even though distributors, publishers, royalty collectors, and labels are an essential part of the ecosystem, they aren’t necessary. Getting rid of them means more money for musicians.

The Blockchain also gives consumers the privilege of getting their preferred content with minimal hassle. Instead of waiting several months for their royalties, musicians can get their earnings immediately. Artists can get revenue from their merch too. They get a cut whenever a branded cap, wrist band, t-shirt, or hoodie is sold. With Bitcoin and blockchain, there is increased assurance that funds are going to the right person.

Even though the idea of Bitcoin payments may not be very appealing to the average music fan, it is a musician’s dream. It takes power from third parties and hands it to individual artists.

Related posts:

Like BTCMANAGER? Send us a tip!
Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://btcmanager.com/5-industries-where-bitcoin-is-a-popular-payment-method/

Blockchain

The key to Litecoin’s price resuming its ascent is…

Published

on

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice

While Litecoin has seen two major breakouts since August, a horizontal channel continues to be relevant on its chart. To reclaim its movement within this pattern, a few criteria need to be met first.

For one, an immediate close above $163 would be crucial for a bullish outcome. From there, a close above $174 would allow bulls to overtake market control.

At the time of writing, LTC was trading at $154, down by 3.4% over the last 24 hours.

Litecoin Daily Chart

Source: LTC/USD, TradingView

Since early August, Litecoin has traded within the confines of a horizontal channel with two key breakouts. The first breakout inspired a rally to a local high of $233, but a broader market sell-off saw an immediate U-turn on the charts.

The second breakout saw LTC decline in value and shift to a near 2-month low of $144. To enable another recovery back into the channel, LTC needs to close above its first major resistance at $163. From there, a move above the lower trendline would push the price all the way up to the mid-point of the channel at $185.

However, this outlook would only hold up if LTC sees an immediate throwback over the next 48 hours. If the price fails to close above $163, some stabilization can be expected with $144 and $130 functioning as support lines.

For short-sellers, a close below $123.4 would offer interesting opportunities. However, some positions can be taken below $144 as well.

Reasoning 

Since LTC’s RSI was in oversold territory at press time, buyers could come to the rescue. Such a reaction was also observed on 8 September after which the RSI surged all way above 60. The MACD also flashed a few positives. The index was close to a favorable crossover and a bullish double bottom formation.

However, the Awesome Oscillator was yet to take up a favorable position and traded below the half-line. In doing so, it was positioned favorably for sellers. The next peak above the half-line would provide more clarity as far as the future of a bullish resurgence is concerned.

Conclusion 

Despite recent losses observed in LTC’s market, recovery did not seem a very far-fetched idea. Litecoin was trading above key support levels and buyers had a platform to respond to selling pressure.

A close above $163 would heighten the chances of a throwback within the pattern and allow LTC to maintain its bullish structure. If the $163-resistance denies a breakout, LTC’s horizontal channel would likely be negated. Fresher lows can be expected from that point.

Where to Invest?

Subscribe to our newsletter

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://ambcrypto.com/the-key-to-litecoins-price-resuming-its-ascent-is

Continue Reading

Blockchain

Christine Lagarde Is Not a Big Fan of Digital Currencies

Published

on

Christine Lagarde – the president of the European Central Bank – has issued a warning about cryptocurrencies like bitcoin and Ethereum, calling them highly speculative and saying that they are “suspicious.”

Lagarde: Crypto Is NOT Cash!

Bitcoin and digital assets have shot up like crazy over the past year. The idea is that these assets are becoming hedge tools against inflation and other economic problems caused by the current presidential administration and ongoing coronavirus fears. While many people have garnered newfound respect for these assets, Lagarde feels very differently, and says that they are not cash and should not be treated as such.

In a recent interview, Lagarde commented:

I think we have to distinguish between cryptos that are highly speculative and suspicious occasionally, and high intensity in terms of energy consumption assets, but they’re not a currency.  Cryptos are not currencies, full stop. Cryptos are highly speculative assets that claim their fame as currency, possibly, but they’re not. They are not.

Among the big price highlights to occur for digital assets over the past several months include bitcoin reaching a new all-time high of approximately $64,000 per unit in April. In addition, Ethereum also experienced a new high of about $4,000. Other assets, such as Solana, Ripple’s XRP and Binance’s BNB, have also incurred triple-digit gains.

These currencies – and many others like them – are not garnering affection from Lagarde, though she was rather praising of stable currencies in her interview, claiming:

You have those stable coins that are beginning to proliferate, which some big techs are trying to promote and push along the way, which are a different animal and need to be regulated, where there has to be oversight that corresponds to the business that they’re actually conducting, irrespective of how they name themselves.

Many banks and governments across the globe have been looking at stable coins as of late, recognizing that cryptocurrencies are becoming much more prominent and that they need to stay current to compete. The ECB itself ultimately launched a digital euro project earlier in the year under Lagarde’s direction and guidance. She continued her praise of the stable currency space with:

And in all that, you have the central banks who are prompted by a demand of customers to produce something that will make the central bank and central bank digital currencies fit for the century we are in. I was keen to push the issue, the CBDC issue, on our agenda because I believe that we have to stand ready for that.

Stable Currencies May Provide Solid Answers

One figure sharing this sentiment is Benoit Coeure, the head of innovation at the Bank for International Settlements (BIS). He recently stated of stable currencies:

CBDC (central bank digital currencies) will be part of the answer. A well-designed CBDC will be a safe and neutral means of payment and settlement asset.

Tags: bitcoin, Christine Lagarde, stable currencies
Click here for Free Trial.
Source: https://www.livebitcoinnews.com/christine-lagarde-is-not-a-big-fan-of-digital-currencies/>

Continue Reading

Blockchain

Ethereum, Solana, VeChain Price Analysis: 22 September

Published

on

The entire cryptocurrency market has been facing severe bearishness over the past few weeks. The king of altcoins, Ethereum broke down below crucial support levels and would incur selling pressures from all around. That effect would automatically trickle down to the other smaller altcoins in the market like VeChain.

However, thanks to its recent rally, Solana seemed to be in a relatively better place to continue its upward trajectory if market sentiments improve.

Ethereum (ETH)

ETH/USD | Source: TradingView

Ever since the correction that happened on El Salvador’s Bitcoin Day ETH/USD has been trading in a very narrow range between $3100 to $3500. It had briefly broken out of the range, only to fall back down into it, before correcting even more.

This was a worrisome signal since it broke down (white arrow) below the descending triangle pattern on the chart as depicted by the pink lines. Ethereum prices also broke below the next support level of $2990 as depicted by the yellow trend line. So unless the prices are able to rally back from current levels to the range of $4000-$4400, the short term future for this counter remained bleak.

The Relative Strength Index dropped below 40 mark which would add to the selling pressure in this currency pair. The MACD, which suffered a bearish crossover a few weeks back entered the negative territory too. The prices have also moved significantly below the 20-day Moving Average line (marked in green) to further add to the bearishness.

Solana (SOL)

SOL/USD | Source: TradingView

Solana has been one of the best performing coins in the past month and a half and its rally propelled it to the seventh biggest coin by market capitalization. Since mid-August, 2021 it rallied nearly five times in price (blue channel), before correcting sharply a month later in line with the entire market and that correction turned into a bearish trend ever since.

Due to the nature of the recent rally, the only logical level of support for the prices would come near $20. However, if Solana prices are able to breakout of the white channel from current levels to above $160, the earlier rally may resume.

Despite the major correction over the past few days from $200 to current prices, indicators had turned extremely bearish yet. The Relative Strength Index remained near the 50 mark so there was still some bullishness.

The MACD which suffered a bearish crossover still remained well within the positive region as well. The prices however, broke down below the 20-day Moving Average (green) but again, it isn’t too far away to retest those levels. So overall, bullish sentiment in this particular coin still persisted.

VeChain (VET)

VET/USD | Source: TradingView

The VET/USD currency pair was extremely volatile and fell significantly from its all time highs. Since then it was trading within a very wide range however, a promising chart pattern was beginning to emerge for this particular coin.

A bullish cup and handle pattern was seen (white lines) and a breakout over $0.12-$0.16 can result in a major rally. The level of support for VeChain was around $0.06 and that should hold fine based on historical data.

Although, the indicators did not show as much enthusiasm on the bullish side. The Relative Strength Index touched 30 levels and currently was around 37 which was very weak. The MACD too breached the zero line and crossed over into the negative territory.

The prices also dropped below the 20-day Moving Average (green) over two weeks ago and were not able to break out of it ever since. So overall, this coin, much like many others in the market, faced the heat of extreme bearishness in the market and would require a convincing breakout over $0.16 to be bullish again.

Where to Invest?

Subscribe to our newsletter

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://ambcrypto.com/ethereum-solana-vechain-price-analysis-22-september

Continue Reading
Blockchain4 days ago

Over 40 days after Ethereum’s EIP-1559, here’s where it stands

Blockchain5 days ago

Cardano Sees an Influx in Smart Contracts ! But There’s a Twist

Uncategorized4 days ago

What is The Old Gym in NBA 2K22 Next Gen?

Uncategorized4 days ago

NBA 2K22 Limitless Spot-Up and Chef Badges Explained

Blockchain4 days ago

After Targeting BlockFi, State Regulators Now Set Their Eyes On Celsius

Blockchain4 days ago

Matic Price to hit $1.75 in the next leg up! Launch on Bitfinex to be the Catalyst?

Uncategorized4 days ago

Best Dribble Pull-Up in NBA 2K22: Which to Use

Uncategorized4 days ago

Shiba Inu (SHIB) Rises to Range High

Uncategorized4 days ago

NFTs Are the Building Blocks of the Metaverse — Here’s How It’s Being Built

Blockchain4 days ago

Ripple’s Legal Team Says They Have No Plans To Settle With SEC Over Lawsuit On XRP Sales

Blockchain3 days ago

Flux Pools autoriza o pagamento de ativos paralelos em mais de 300K Flux!

News4 days ago

XRP Lawsuit: Here’s Why Experts Think Ripple Could Win the Case Against SEC

Blockchain4 days ago

EY Taps Polygon Network to Improve Enterprise Clients’ Experience 

Uncategorized5 days ago

The Head of Diem wants you to trust Facebook, but is he fighting a losing battle?

Blockchain3 days ago

All you need to know about MATIC before investing

Blockchain4 days ago

EOS: Why there’s a question mark attached to its long-term trajectory

Blockchain4 days ago

Shiba Inu’s days in the sun may be over; here’s why

Blockchain3 days ago

Smart Contracts Running on Bitcoin? Internet Computer Founder Explains How It’s Possible

Uncategorized2 days ago

PetPals, One Of The First Play-To-Earn NFT Web-Based Games Is Out Now

Uncategorized5 days ago

Insider NFT Trading at OpenSea: Regulation Imminent?

Trending