It wasn’t so long ago that the thought of using a plastic card to pay for your shopping seemed like a daunting new concept that you were never quite going to get the hang of! But, you did!
As technology advances and the revolution of cryptocurrency expands, we
are now faced with a new concept, the concept of making our daily
purchases with a digital currency, cryptocurrency. While this is
something that many still find very bewildering, before you know it you
will be using your digital wallet to pay for things in the same way you
adapted to chip & pin, and your contactless card.
1.Education
Students
around the world are already using cryptocurrency to pay for their
university tuition fees, King’s College in New York, Lucerne University
in Switzerland, University Business School ESMT in Berlin and the
University of Nicosia in Cyprus are just a few schools that already
offer crypto as a payment option.
Earlier this week it was announced
that Yale, one of the most prestigious Ivy League universities in the
world is set to invest in a $400 million cryptocurrency fund. As
cryptocurrency education interest increases so will the demand for
payment options and before you know it every education campus in the
world will be offering Bitcoin as a payment option.
2. Utility bills
Despite
it being 2018, paying utility bills can be a time-consuming chore in
itself depending on what country you live in, reside in, whether you own
or rent. Some companies have accepted mobile and card payments for
years, while others still opt for the old-fashioned system of
restricting payments to the bank or electricity/water office.
However, this is all about to change, Bitcoin is already being introduced into society to make things easier, companies such as BillPay For Coins and Bit2Bill and Piix Pay
offer a bill paying service that allows their users to securely pay any
bill with their cryptocurrency. It is only a matter of time before
others follow and soon there will be no need to juggle credit or debit
cards or stand around in long queues just to pay your bills, instead, it
will be done in just a few seconds via your mobile with cryptocurrency.
3. Travel Expenses
One
of the greatest luxuries in life is to travel, however, it usually
comes with added fees and hidden costs such as currency conversion, ATM
withdrawal and transaction fees. Paying for your travel expenses with
cryptocurrency is not only fast, convenient and secure but it eliminates
these extra hidden costs.
It is already possible to book flights, hotels and public transport with cryptocurrency using websites such as CheapAir, Surf Air and Bitcoin Travel,
where the list of travel businesses accepting payment by crypto is
growing by the day. Soon it will be possible to book everything from the
one site and the one wallet, eliminating the need for endless online
searches, visits to the travel agents and the balancing of different
payment options.
4. Gym membership
The
health and fitness industry is a very diverse industry and one that is
experiencing rapid growth and development so undoubtedly it is one of
the first industries to experiment with blockchain technology and the
world of crypto. There is currently a wide range of apps, businesses and
payment services that allow you to pay for your membership with cryptocurrency around the world.
Blockchain
technology allows for smooth and fast payment options, eliminating the
need for credit/debit card restrictions. This will be a huge benefit to
those that split their time between different countries and have a few
different gym memberships as they can pay in the same cryptocurrency
from one place, rather than balancing different currencies, cards and
exchange rates.
5. Dining out
Most
of us have been in the situation where we go for dinner or drinks,
arrive at the venue and realise that in the mad rush to make it there on
time, we have left our wallet or your purse at home! When paying with
cryptocurrency, there is no need to worry about carrying your wallet or
purse with you, all you need is your mobile, which let’s face it, we
never seem to forget!
In Europe alone, there are already an array of coffee shops, and bars and restaurants that accept Bitcoin as a payment option, while others no longer accept cash at all and are adopting cryptocurrency in its place. Earlier this year a bakery in Zurich announced
that people can’t pay for their cakes or bread with cash but they can
use Bitcoin! These options are set to grow at a steady pace and soon we
will all be picking up every bill with crypto.
These
are just a few examples of how cryptocurrency is already being
introduced into society and daily life. Not only will cryptocurrency
transactions ensure fast, efficient and hassle-free payments, they will
also eliminate the need for currency conversion, exchange rates and
unnecessary transaction fees.
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