Like 2017 and the popular cryptocurrency rally, the last year has triggered new sums in the cryptocurrency world, and especially Bitcoin (BTC). The year of the pandemic has been exciting for both crypto fans and supporters, from record highs to various news rounds and attention from regular funding.

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One of the conversations that may arise in the midst of the hype is the increased activity of institutional investors in cryptocurrencies. Businesses, financial advisors and institutions that spotted Bitcoin five years ago or during the Silk Road saga are now at the forefront of crypto investments. Large and well-known financial companies such as JPMorgan and Goldman Sachs have moved away from their previous positions and are now ready to invest in the future of cryptocurrencies. With a market value of over $ 600 billion, Bitcoin is quickly surpassing gold as a popular inflation hedge.

Remember that Bitcoin was not just another resource that was offered as inflation protection in the original Satoshi Bitcoin paper. However, the whole idea of ​​Bitcoin came from bankrupt financial institutions, third parties and a potential solution that would be effective in everyday life.

Of course, with every institutional investor and major financial instrument turning to investing in bitcoin, the popularization of bitcoin as an asset has become inevitable. However, here are some of the ideal applications from the real world that can challenge low quality currencies and push Bitcoin towards the mainstream.

Online shopping
In the past, Bitcoin was often seen as a way to circumvent the government and engage in illegal activities. However, the adoption of cryptocurrency continues in the air, and many companies are now open to accepting bitcoin or other cryptocurrency as payment for goods or services.

In 2014, using BitPay as a payment processor, Microsoft became one of the first technology companies to adopt Bitcoin to buy digital goods. In October 2020, the popular payment company PayPal in the United States announced that it would allow the use of cryptocurrency as a source of financing for purchases in 2021. With various cash payment sellers now accepting Bitcoin, Bitcoin is more likely to be used by everyone. soon enough every corner of the world’s pillars.

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Cross-border transactions and travel
If there is anything learned from the past year and during the devastating global pandemic, it is the growing need for digitization. While there are several ways to send and receive money worldwide, cryptocurrencies are fast becoming the preferred option. Apart from the fact that cryptocurrency is a global currency, factors such as speed, convenience and low transaction fees make Bitcoin a popular choice for international transactions.

About the topic: How has the COVID-19 pandemic affected the crypto space? Experts answer

Many countries that previously banned bitcoins are now open to them, and the mainstream media has been more than receptive in the last two months. Several companies already offer travel packages that allow tourists and travelers to book flights, hotels and transfers using cryptocurrency. Over time, the many disadvantages of the foreign exchange market can lead to an increase in travel with cryptocurrencies to local or fiat currencies.

Bitcoin ATMs
In truth, the goal was never to phase out local currencies, but to create a world where bitcoin is as relevant as any fiat currency. Bitcoin ATMs are undoubtedly an important part of this goal. Basically, it allows anyone to buy bitcoins by credit card; At some bitcoin ATMs you can also sell bitcoins for cash.

The number of bitcoin ATMs worldwide is over 13,000 in 71 countries. Although these ATMs still have a long way to go, there is an increasing trend every year with an ATM that is added on average every hour. There is no doubt that bitcoin ATMs are a big part of the cryptocurrency revolution, and they will be much better.

conclusion
While cryptocurrencies are fast becoming part of our digital world, the underlying blockchain technology has also played an important role in disrupting many industries. The supply chain, the health, food and car industries have benefited greatly from this revolution over the last ten years.

Source: CoinTelegraph

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