In 2022, the popularity of Bitcoin, and cryptocurrency in general, has skyrocketed. An increasing number of people are becoming interested in the phenomenon. For example, in 2021, over 40% of Americans claimed to have heard of Bitcoin and are already investors, looking into investing, or curious about investing in the crypto. With this rise in popularity, businesses are, obviously, becoming more interested as well. Many have begun to ask the question “Should our business start accepting cryptocurrency?”
Plenty of others has already come to an answer. Here are a few businesses that are already accepting cryptocurrency-based payments.
The world of online gambling is seeing an increase in popularity in the 2020s. Online casino websites, like casinoburst.com, are becoming all the rage, and many suspect that they will soon replace the land-based casino together. Whether this is true or a bit of an exaggeration, one thing is clear. Online casinos are a massive success.
It would appear that Bitcoin, and cryptocurrency in general, are hugely popular among online gamblers, however. In order to meet their demands, many online casinos have taken it upon themselves to allow crypto-based deposits on their website. In fact, there are even online casinos that function solely on cryptocurrency. These crypto casinos, as they are called, have in recent years gotten quite a bit of popularity, though they still do not come close to the fame of regular, online casinos.
Moving away from the online realm and more into land-based markets, Whole Foods is one of the premier supermarkets in the United States today. Gaining success due to their practice of offering only fresh and healthy ingredients, the company has won the hearts of Americans all over the country. What put them further on the map was their adoption of bitcoin-based payment. Whole Foods customers can now use the SPEDN app to purchase fresh produce from Whole Foods using Bitcoin.
Should More Companies Adopt the Practice?
But the question here is, should more companies adopt the practice? While the ones who have adopted it (such as Whole Foods, Microsoft, Starbucks, and various Online Gambling and Betting sites) seem to be happy with it, there are some companies that are still apprehensive. For example, in 2021, Tesla dropped their support of Bitcoin, citing cryptocurrency’s damaging effects to the environment as a reason. This move on Tesla’s part has made many other companies squeamish about throwing their support behind the phenomenon, as Tesla was one of Bitcoin’s (and cryptocurrency’s) biggest supporters.
On their part, Tesla has said that they can get behind the concept of cryptocurrency (Elon Musk himself has voiced his support of quite a few); however, they cannot throw their support in until something is done about the environmental dangers. Cryptocurrency miners and creators have been working hard since the creation of crypto to minimize the energy costs, which would significantly lower the damages done to the environment, and strives have been made in the right direction in recent years.