We have talked in the past about the importance of adopting cryptocurrencies, be it adoption by investors with small amounts to those with deep pockets such as banking institutions, governments, and multi-million dollar companies. The more people participate in this space and the more cryptocurrencies are being bought and are exchanging hands, the bigger the market, thus adding importance to it and attracting the attention of other investors and governments.
A few weeks ago, “The Home Loan Expert, LLC,” one of the largest mortgage companies in the United States, announced that apart from investing in Bitcoin and other Alt-coins, they were also exploring and filling the necessary applications to be able to accept Bitcoin and cryptocurrencies as a form of payment to buy real estate. This is a huge advance for the crypto economy and for the technology since, very soon we will have the option of depositing cryptocurrencies to be able to buy a house in the United States in addition to using them to pay our monthly mortgage and other pay for other real estate transactions.
On August 16, 2021, “United Wholesale Mortgage,” another of the country's leading companies in the mortgage space, published that it would follow in the footsteps of its competitor and do the same. With this trend, I think we can anticipate that many other financial institutions are thinking of following suit, or are already in the process to accept cryptocurrencies as a form of payment. This is the type of adoption that we need to continue to see in order to affirm the strength and seriousness of this technology and to prove that decentralized digital currencies that can be used on a daily basis for different services and applications.
The above image from Statista shows the approximately percentage of crypto users by country as per 2019.
At this time there are many companies that, directly or indirectly, (see list here) have already been accepting crypto as payment.
For example, Through this tweet ...
Burger King shared that customers can buy dog treats with Dogecoin. Translated, the tweet reads: “Have you run out of Brazilian reals? Buy with DOGE! Burger King is revolutionizing the galaxies once again! We are now accepting the much loved Dogecoin crypto as payment for DOGPPERS®. Shopping is easy, visit our website. "
Virgin Atlantic, the famous British airline, also accepts crypto to buy airline tickets.
Amazon (not directly) While Amazon, the biggest online retailer today, doesn’t accept Bitcoin directly, you can use Purse.io to shop for anything on the site and pay with Bitcoin. The site connects people who have Bitcoin and want to buy on Amazon with people who want to get Bitcoin in return for fulfilling an order.
CheapAir An American online travel agency, established in 1989 has started accepting Bitcoin through Coinbase and later on changed their payment processor to BTCPayServer.
This is yet another example of the huge adoption we are seeing in the industry and this avalanche is just beginning to roll. Since the exchange platform Coinbase began trading on the stock market, many other large entrepreneurs and business magnates have realized that the crypto rush is serious and very lucrative.
We will continue to inform...