Friday, June 15, 2018

Key Spending Areas For Crypto Online (Guest Post)

Investing in cryptocurrency is already a famously difficult financial maneuver. While it’s something that excites a lot of people, even on the amateur level, cryptocurrency remains largely unpredictable. Large countries with influential economic systems are still figuring out if and how to regulate it, exchanges are emerging and changing constantly, new coins are always hitting the market, and perhaps most of all, people are still making up their minds as to whether or not cryptocurrency is actually useful.

Ostensibly, cryptocurrency is meant to be valued for the security and privacy it attaches to any online transaction. These are the features, along with the fact that it’s purely digital, that were initially expected, by some, to lead to a mass migration to cryptocurrency transactions. However, while these perks do exist, the relative inconvenience of using cryptocurrency, or at least getting started with it, has so far kept that mass migration from occurring.

Nevertheless, if you’re interested in cryptocurrency investment, you’ll likely want to keep a close eye on how people are using it as currency. Even as this currency has become known more as a commodity, it’s still something people can buy and use, and the more people are doing that, the more stable the currencies’ values will be. And monitoring cryptocurrency’s utility primarily means seeing where it’s being used online. These are some of the areas worth keeping on your radar.

Travel Booking

It’s unclear exactly why, but travel booking has proven to be one of the bigger and more consistent areas of adoption for cryptocurrency online. It may have started with Expedia, which was among the first major names in any industry to accept bitcoin. The company actually stopped working with cryptocurrency, but even so a number of vacation sites, hotels, and airlines are working to make crypto-funded adventure a reality. Should this ever catch on with an aggregator such as Trivago for accommodations or Kayak for travel, the implications would be fairly significant.

Gaming

If it’s not a personal interest, you may not be aware of just how big casino gaming has become online. Poker and slots in real casinos have always been popular, but they may be even more so online, where players are free to roam between the vast number of games available. Some of the sites that host these games have actually already started accepting cryptocurrency deposits, and if it goes industry-wide it’s going to mean quite a lot of activity. As for more conventional gaming, it remains to be seen if cryptocurrency can make an impact. Steam, the largest platform for online game downloads, did accept bitcoin for a time, but has since stopped.

Aggregate Retail

The question of when Amazon will accept bitcoin might actually be one of the most significant questions surrounding cryptocurrency’s potential growth. A huge portion of retail sales take place online these days, and aggregate retail options, with Amazon leading the way, facilitate a great deal of that business. Should the online retail giant allow purchases via cryptocurrency there will be a massive new incentive for people to start using it.

1 comment:

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