How Bitcoin is Affecting Different Industries

Since Bitcoin arrived (ok not ‘arrived’) as there is no physical back in 2008 there have many companies and big Industries like Dell and Microsoft that take advantage of the crypto currency, and if you have a business of your own but are not using bitcoin, then you really could be missing out on opportunities to expand your brand whether goods or services.

The general consensus in the world of finance is that as long as China, the biggest Bitcoin using country, does not make legislative bans against the crypto-currency then there is every reason that the use of it will continue to grow globally.

Bitcoin coins in a pile

With overseas transactions made much easier using Bitcoin compared to the other more traditional payment methods, the instantaneous nature as it is a universal currency appeals to many industries. If you couple that with no exchange rate fees, and that you can make a payment or take receipt of one 24/7 then it soon becomes apparent just how much Bitcoin affects the different industries that use it.

For instance, if we look at the gambling industry Bitcoin has become very popular with online casinos, and if you take a site like Schmitts Casino blackjack online a thriving and legitimate business, once they begin to use Bitcoin as a payment option their company AND their customers can enjoy numerous benefits.

We live in a world where our safety and security online should be taken very seriously, and Bitcoin might just be one of the safest digital currencies you can use. For those that enjoy a bet or wager online that’s a major plus. Most online casinos offer credit cards, PayPal and a range of ewallets and pre-paid vouchers as payment options, when Bitcoin is included there is no chance that you could become hacked as Bitcoin also comes with total pseudomymity, there are no records to hack!

Another major plus playing at an online casino that uses Bitcoin are the instant payments that can be made. Most transaction are instantaneous, with some getting confirmed within minutes, only very few payments take a little longer. If you compare that with some monetary transaction which can take up to five working days to complete.

Put those instant payments into a gambling site where gamers can fund their personal accounts or withdraw their winnings instantly, the appeal of Bitcoin soon becomes apparent.

Not only is Bitcoin faster and more secure it is also much cheaper to use as a payment method as transaction fees are a fraction of the fees associated with the more traditional banking options. This would mean that gamers would get to keep more of their winnings, and the house would save cash on credit card fees.

Bitcoin was birthed on the Internet and made especially for online use, and with major retailers like Overstock.com, Expedia and Shopify stores amongst other big names already accepting Bitcoin as a payment method, not to make use of it would seem a poor business move.