Since the creation of Bitcoin in 2008, it has attained over 138 billion USD market capitalization in the previous few years. It is also the most renowned digital currency. There are online exchange platforms as well as ATMs that allow people to buy and sell this crypto. Market participants have established ways to adopt it for online payments and earning platforms. Some of the BTC trends bringing revolution to the cryptocurrency domain are discussed here.
First, Bitcoin is used for the exchange of goods and services. However, many people are yet to start adopting the system despite the availability. Certain leading online retailers accept Bitcoin for payment and noted that they have seen remarkable success in crypto payment systems. Companies keep becoming interested in Bitcoin payments due to more costly credit cards processing fees.
Merchants have the opportunity to choose the cryptos to accept and likewise the services to be covered. As regards protection from scams and frauds, firms partner with trustworthy and prominent BTC wallet service. The companies also have the opportunity for more profits by storing some of the coins and sell when the price rises. Likewise, they can also lose money if the value declines and this is the risk some are not willing to take.
Second, Bitcoin is being used for online games. Crypto and gaming have become popular these days. Players are investing in cryptos instead of traditional stocks for use in their online games. Likewise, some mobile app developers are accepting Bitcoin for in-game payment. For instance, DonnerLab introduced a system for gamers to hunt for Bitcoin.
Satoshis Games revealed the development of a game that will allow players to earn Bitcoin by shooting other players but there will also be penalty when other players shoot them. Such earning method is said to possibly increase the price of BTC ahead; as more people adopt the system, it is possible for the price of Bitcoin to become over $250k within the coming 2 to 3 years.
As more people continue to use Bitcoin and the trends keep progressing, BTC will keep flourishing, in spite of the volatility. However, the main issue is the possibility of stored Bitcoin to wipe out if one computer crashes or if a hacker successfully intrudes and manipulates the account. However, there will be solutions to these challenges as the crypto domain keep advancing.