Virtual Payment is Right by Your Side
"What do I do with the Bitcoin I hold?” "What’s the value of cryptocurrencies?”
Some people may think holding Bitcoin is only an investment, but little do you know, there are many who use Bitcoin as a payment option for quite some time now. Moreover, I would like to plant the seeds for those who did not realize it and share some information about Bitcoin payment. Hopefully, virtual payment will become more versatile in the near future.
Bitcoin v.s. Traditional Currencies
Bitcoin is a type of cryptocurrency that believes in the principle of technology rather than the government, it is also the innovation of the blockchain era. Based on the fact that Bitcoin is totally digitized, the durability and transfer efficiency of Bitcoin is significantly higher than the traditional currencies. The easiest way to differentiate between the two is that Bitcoin distribution is decentralized. Decentralization is built to resolve safety and security issues, in which a traditional currency cannot do by itself.
Bitcoin technology has reinvented the concept of money and thus resulting in the increase of willingness for stores to accept Bitcoin as a payment. Being one of the most controversial subjects throughout the last decade, the invention of Bitcoin has grown into a multi-billion dollar industry, and it has proven that the value corresponds to the liquidity of Bitcoin.
Is the world ready to go totally virtual when it comes to payments?
Take a look at CoinMap, it displays places that accept cryptocurrency payment in your city. Luckily, there are over 60 such venues in Metro Vancouver. Here are some places you can spend your bitcoins:
Bestie- Chinatown’s Finest Currywurst
First stop to my Bitcoin payment research, my best friend and I came to this hipster little sausage & beer parlor in the heart of Vancouver’s Chinatown. If it’s hipster, Bitcoin must be accepted here!
Airplane Tickets on Expedia.com
Expedia is one of the most visited websites for me, it is really thoughtful for them to add Bitcoin as a payment method, and give customers another option when it comes to vacation booking.
Since Bitcoin transactions are anonymous and untraceable, it complicates the verification process. Therefore, it is more difficult to refund a ticket purchased with Bitcoin than other payment methods.
Coffee at Waves
Get caffeinated with Bitcoin! Waves has always welcomed future innovation with open arms, which is why several locations offer Bitcoin ATMs and accept Bitcoin as a payment.
Mavericks Tickets 2018–2019 Season
Owner of The Dallas Mavericks, the entrepreneur and Shark Tank star, Mark Cuban, will begin accepting Bitcoin and Ethereum as payment next season.
SFU Bookstore
Simon Fraser University is the first Canadian post-secondary institution to accept Bitcoin for the purchase of textbooks.
As a university focused on innovation, SFU wants to provide students the opportunity to try digital currencies within the bookstore and other retail locations on campus.
Creating a virtual currency ecosystem on campus is one of the examples of SFU’s commitment to engage and empower its students to drive innovation within their communities.
Properties
Buying properties with Bitcoin is not breaking news in Vancouver. This mansion located on Vancouver Island was listed on a real estate website for about 160 Bitcoins at the beginning of 2018. A realtor stated that Bitcoin real estate broadens the market. People are always looking to sell for the highest prices possible, and using cryptocurrency offers more opportunities to sell the property faster, and for better prices. This is largely due to the fact that cryptocurrencies experience bigger and more rapid fluctuations daily, and thus, inducing the completion of deals once a good price is met.
We’re Making History
I believe Blockchain technology and virtual currencies are the new wave after social media platforms in the age of the internet. Although the number of people holding virtual currencies does not account for the majority of the world, we know there are indeed a certain number of Bitcoin holders supporting this ecosystem by looking at the rising of Bitcoin payment.
But how can virtual currencies possibly overcome traditional currencies? The dependency on an even more convenient virtual lifestyle would be a great start to the widespread circulation of virtual currencies. I believe in the near future, the number of merchants accepting virtual payment in the ecosystem will drastically increase along with further development of this technology. Can’t wait to be impressed!
