Cryptocurrency hit an all-time high with values soaring to $60,000, Business Insider reports, further fanning growing consumer excitement around crypto. In fact, at the time, this growth meant two pizzas previously purchased by crypto trader Laszlo Hanyecz would have been worth $613 million. Although crypto is far from as mainstream as fiat currencies, it’s increasingly being accepted as an official payment option in a wide ranging number of industries.
Digital payment solutions
Digital payment solutions have experienced an impressive 40% increase in growth over the past two years alone. For example, Perk Hero, the mobile commerce platform, now accepts cryptocurrency as a form of payment after joining forces with BitPay, the biggest Bitcoin and cryptocurrency payment service in the world. As a result, Perk Hero now accepts Ethereum, Dogecoin, Bitcoin, and Bitcoin Cash as a faster, cheaper, and more secure payment method compared to credit cards. Customers who use Perk Hero can also enjoy digital loyalty rewards; Perk Coin can be used to buy digital goods, services, and gift cards. Square, Inc., an American financial services and digital payments company, also intends to create a hardware wallet and service for Bitcoin. Founder of Square Inc., Jack Dorsey said the move is intended to help make crypto more mainstream.
You can even buy property with cryptocurrency. In 2017, for example, a house sold for $480,000 in Essex, England: it was the first home ever to be purchased solely in Bitcoin. And, while this is still fairly uncommon, access to real estate through digital channels is only continuing to grow. In fact, a crypto mortgage just recently became available in the US — an unprecedented move that makes it possible for buyers to use digital currency to make down payments. When it comes to real estate, transparency is of course a key value for buyers. Blockchain-based real estate, for buyers, also ensures greater trust of agents and listings, as well as speeds up the overall home buying process while reducing costs.
Food and drink
As people increasingly become convinced of the benefits of cryptocurrency, food and drink brands across the world are beginning to accept this form of payment. In particular, Burger King Venezuela recently began accepting Bitcoin and other crypto. In order to facilitate this, they teamed up with Cryptobuyer, a secure platform that converts cryptocurrencies into regular currencies. Additionally, Yum Brands — owner of Pizza Hut, the Habit Burger Grill, KFC, and Taco Bell — now accepts cryptocurrencies. They, too, partnered up with CrytpoBuyer. And, KFC Canada has even briefly accepted cryptocurrency in the past. In 2018, they had a partnership with BitPay in order to run a promotion where customers could purchase a Bitcoin Bucket aka a chicken bucket for Bitcoin.
Across all industries and all corners of the world, cryptocurrency is becoming increasingly mainstream. Whether it’s digital payment solutions, real estate, or food and drink, consumers can enjoy using crypto as a valid form of tender.