What are the biggest implementations of Bitcoin in today’s world?

Bitcoin was first introduced to the public in 2009, in the midst of the financial crisis that occurred in the United States. People had a lot of distrust in their governments and banks, and from this chaos bitcoin was born.

A person or group that goes by the name of Satoshi Nakamoto introduced this cryptocurrency to the world. This virtual currency eliminated the need for third-party involvement.

Bitcoin is the most famous cryptocurrency worldwide, and although there have been attempts to recreate it, bitcoin remains the most widely used.

As this cryptocurrency takes over the world, many industries and sectors are using it. In today’s article, we will go over the industries that have implemented bitcoin as part of their service.

What can Bitcoin buy me?

With more and more industries and companies accepting bitcoin payments on a daily basis, it can be difficult to keep track of which ones allow the cryptocurrency. But I have some bad news and good news, the chances of you finding a company that accepts bitcoin is still slim, but that may change in the following years as the sectors below pave the way for more industries to accept bitcoin payment!

Casinos and the gambling sector

Bitcoin has given the gambling industry a boost, as players finally understand the benefits that paying with bitcoin can bring them. Therefore, these bitcoin casinos are flourishing and increasing in popularity.

However, with so many new casinos on the market, it is important to choose the right one to ensure that your personal and financial information is not stolen.

To ensure that you have chosen the right casino, remember these points:

● Check player reviews: a casino is only as good as the reviews and comments from other players. Take a look at what aspects of the casino other players liked and why they gave the casino that rating.
● Security: make sure the casino is backed up by a state-of-the-art security system that prevents hackers from breaking into their database and stealing your information.
● Customer Service: When an error occurs in the middle of the game, you run to customer service for help. Check what hours they work and what their average response time is.

Bitcoin is a decentralized digital currency that can be used to make instant payments anywhere in the world with very low transaction fees. Other advantages of using bitcoin include its global reach and its lightning-fast peer-to-peer exchanges. Professionals and experts believe that bitcoin will always be the most used cryptocurrency when it comes to online casino gambling, regardless of how many new cryptocurrencies are introduced to the market.

Benefits of using Bitcoin at online casinos

As mentioned above, bitcoin is a great digital currency that has a number of advantages. When you use bitcoin at online casinos you can expect to benefit from the following benefits:

Bonuses and promotions

This may not be the most important benefit when it comes to using bitcoin in casinos, having said that it is one of the most lucrative benefits. Traditional online casinos already offer superb bonuses to entice new customers to bet on their site.

When you use bitcoin as a payment method, online casinos offer even juicier bonuses than those that use regular payment methods.

Cost-effective and immediate payments

Bitcoin payments are incredibly fast and although there are alternative coins on the blockchain with faster transactions, bitcoin is still the safest and most accepted cryptocurrency. Compared to wire transfers which can take up to 5 days, bitcoin payments are incredibly fast, especially when you consider how much security the payment method provides.

Deposits and withdrawals rarely take more than a day and in most cases will be processed within a few minutes. In addition to being fast, bitcoin is also cheaper than most traditional payment methods. Although when transacting with Bitcoin you will always incur a transaction fee, again compared to traditional payment methods it is surprising how much you can save.

Safety

If you thought traditional payment methods were safe, think again. Traditional payment methods are indeed safe, but unfortunately for them, bitcoin takes the crown when it comes to security. As long as you store bitcoin or other cryptocurrencies are stored properly in a trusted and secure wallet or cold storage, it is impossible to break.

A side note, make sure to never give anyone your crypto keys, any gaming site that asks for your crypto keys is a sure scam. These crypto keys are the gates to your bitcoin, provide the keys and your crypto vault is nothing more than an open flood gate.

Insurance company

The introduction of cryptocurrencies in the insurance sector has mostly been done in a cautious and careful manner. However, things are starting to turn around. Although it is not possible to buy life insurance with bitcoin at this time, several insurance companies have begun to allow customers to pay premiums for their other products using the cryptocurrency.

An example is AXAa Swiss insurance company. AXA is the first all-line insurance company in Switzerland to accept Bitcoin as payment from its customers, making it a pioneer in the industry. This indicates an investment in the digital future of the organization in response to the growing demand from customers for a greater variety of payment options.

The firm stated that it currently does not hold any bitcoin on its balance sheet and that it has been working with Bitcoin Suisse, a cryptocurrency exchange, which is helping the insurer convert Bitcoin into Swiss francs. In addition to this, it has formed a partnership with Inapay, a mobile bitcoin payment processor, to host the user interface for the payments.

Premier Shield Insurance is a company based in Massachusetts that allows its policyholders to pay for their motor vehicle, home and business insurance using bitcoin. Although there is a limit of $5,000 that they can pay with bitcoin, it is already a leading example of how other insurance companies can use bitcoin in their service.

News Media Outlets

Sure, there’s a staggering difference between buying a car with bitcoin and paying for a magazine subscription with the cryptocurrency, but with the way bitcoin is taking over the world, we can expect to pay even the smallest amount with it.

In 2014, the Chicago Sun-Times was the first major publication to accept bitcoin on its website, making it a pioneer in this field among mainstream media.

That same year, Time Inc., which publishes magazines, began taking cryptocurrency payments for digital subscriptions.

The Future of Bitcoin

Although no one knows for sure what the future holds for bitcoin, bitcoin will be another common currency that we will use in our everyday lives.

As more companies and influential people are endorsing bitcoin, more people are becoming curious about this cryptocurrency and have started to look more into it and see how it can benefit them in their daily lives.

It may be difficult to imagine a world where everyone uses this digital currency, especially when we have all become accustomed to credit and debit card transactions and physical cash payments, but in time bitcoin will be integrated into our society.