Ever since Bitcoin was released in 2009, cryptocurrencies have steadily revolutionized the financing world. From a mere speculative investment, digital assets have long developed into ground-breaking tools for a large variety of markets. And while Ethereum and Bitcoin are still a long way from widespread adoption, more and more industries grow ever-so acceptant of digital currencies. So, which sectors of the economy are the most crypto-friendly? We focus on three industries pushing forward the crypto revolution.
According to research released in March 2022 by Traders of Crypto, the travel industry is currently the leading adopter of cryptocurrencies out of all business sectors. Travel giant Expedia paved the way with an early partnership with fellow booking platform Travala. Users can thus spend one of thirty different cryptocurrencies, including Bitcoin, to reserve up to 700,000 hotels listed on https://www.expedia.com/.
The hospitality sector followed suit, as more and more independent hotels allow residents to pay their bills with digital currencies. The Pavilion Hotels & Resorts group pioneered the initiative, securing a partnership with the Coindirect payment platform. Recently, the Soneva luxury resorts made headlines by accepting crypto payments in its Maldivian and Thai facilities.
Major airline companies proved just as enthusiastic toward cryptocurrencies. The Latvian air carrier airBaltic processed crypto transactions as early as 2014. One year later, LOT Polish Airlines followed in the example. And other big players are looking to embrace blockchain technologies, from Emirates to Vueling.
The retail industry is divided on the cryptocurrency issue. While some retailers see it as the future of payment, others are still reluctant to venture into such volatile territory. But the most tech-savvy businesses have made the leap to stay ahead of the curve, and crypto-owning shoppers can already spend their assets in several retail stores and e-commerce platforms.
Meanwhile, major retailers such as Walmart are actively laying the groundwork for their own cryptocurrency. And even tech giants like Amazon are jumping on the crypto train. The leading online retail platform doesn’t accept crypto yet, but customers can convert their Bitcoin into Amazon vouchers through crypto-company https://www.bitrefill.com/.
Apart from using cryptocurrencies as a ground-breaking payment option, the industry is also wielding the endless possibilities of the blockchain. Major players have launched exclusive non-fungible tokens or NFTs to drive sales. Sports retailers like Nike and Adidas made waves by collaborating with the hottest crypto influencers. The metaverse also provided ample opportunities for retailers to use blockchain-powered virtual reality and increase their brand awareness on platforms like Roblox.
The gaming industry has long been ahead of the current. Microsoft first shifted the lines by offering players to purchase and upgrade games with crypto on its flagship Xbox console. Streaming giant Twitch later helped raise crypto awareness by allowing viewers to donate Bitcoin to their favourite content creators. But the blockchain revolutionized gaming altogether with the rise of play-to-earn games, relying on the collecting and trading of NFTs.
Cryptocurrencies also offered new venues for the iGaming industry. The appeal of instant transactions and unique global monetary value contributed to the boom of crypto gambling platforms. With their increased anonymity, digital assets made it easier to circumvent local gambling restrictions, too. In countries that ban land-based casinos like Thailand, Bitcoin and other cryptocurrencies prove a convenient payment method.
And on platforms such as https://www.asiabet.org/th/, local players can find all the best websites for casino gaming and sports betting. Aside from crypto, experts have reviewed the most profitable banking methods for punters to deposit funds and cash in their winnings. Their ranking also considers how juicy the bonuses are and how reliable the website is. Additionally, players benefit from helpful guides to get started on the right foot.
Mass crypto adoption remains in its infancy. Yet, a growing array of businesses has seen the promise that these digital assets could bring. Alongside the aforementioned sectors, the food and beverage industry has jumped on the bandwagon. As of 2020, Coke drinkers in New Zealand and Australia could purchase their favourite drink at over 2,000 Bitcoin-compatible vending machines. In the crypto haven of El Salvador, the local McDonald’s and Pizza Hut franchises experimented with crypto payment. Even non-profits like UNICEF have started processing cryptocurrency. And as the future looks increasingly digital, the crypto hype might be more than a fad.