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Cryptocurrancy adoption: Buy and sell using crypto

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@melbourneswest
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2021 has definitely been the year of block chain and cryptocurrancy advancement with more and more companies moving to the space not only for investment opportunities but for use cases. It can at times appear slow and like the sector is remaining stagnate but today's advancements are tomorrow's implementation.

Which is why it is am exciting time, 2021 has seen the most amount of conversations and planning ever in block chain technology outside of block chain circles. This is a clear indication that 2022 will be a boom year for cryptocurrancy as more mainstream businesses move to wide spread adoption. With the amount of companies who will potentially be accepting cryptocurrancy as payment growing daily. But it is the major companies that will draw in the biggest movement.

Let's take a quick look at the companies that we know of that are moving into this space.

Amazon

Amazon, everyone knows who Amazon is and requires no introduction at the magnitude of their business.

The company is the world's largest online retailer and a move into cryptocurrancy will most likely bring with it sector dominance.

The company has recently advertised a number of positions to implement a road map and a vision for the company to accept cryptocurrancy payments for its inventory. Amazon will be a major influencer in this sector.

You can read a bit more about their move Here

Visa

Now this one is one of the most interesting forms of cryptocurrancy integration and one that operates without any negative impacts to retailers.

When we think of trading cryptocurrancy we automatically think that we will pay a retailer in cryptocurrancy. But this model has caused some issues in countries that have legalised the tender. It also creates a barrier of retailers needing to hold multiple wallets and means trying to figure out what cryptocurrancy will be accepted.

Visa ends all that and accepts ALL cryptocurrancy and it takes care of the sale for you. With partnerships with over 50 leading cryptocurrancis and access to 70 million traders world wide purchases just need to purchase whatever it is they are purchasing and Visa takes care of the rest.

This model will be a major winner for both retailers and cryptocurrancy holders alike. Fees are yet to be announced but no doubt this will attract sale and transfer fees but we're still yet to learn more about it. You can read about the initiative Here

e-Bay

e-Bay recently announced that it is open to the suggestion of accepting cryptocurrancy as payment on its platform and is currently investigating ways to list NFTs on its market place.

One of the world's first online auction sites that took the globally connected online world to new trading heights has fallen behind in recent years as competitors have arisen. But if the company is able to list NFTs and accept cryptocurrancy payments it will regain much of its lost market in the new age of Web 3.

You can read more about their move Here

Starbucks

Kept relatively quiet was the advancement that a customer could load bitcoin on a Starbucks rewards card and purchase a cup of coffee or other items from the global coffee franchise giant. The change came late in 2020 and many have been using the service to get their caffeine hit. You can read more about the Starbucks rewards program for bitcoin Here

Rewards Cards

A number of rewards cards are being rolled out which users can load up with bitcoin and spend at various retailers and the cards handle the transactions for you.

One of the better known and more widely accepted rewards cards is Flexa operating through egifter which enables purchasers to load up a range of currencies and head out and make purchases at retailers that accept it. Home Depto is one of the major companies accepting this form of payment.

And more

There are alot of smaller retailers moving to the forefront to accept bitcoin or an iteration of cryptocurrancy. This move enables the sector to grow and promotes the alternative financial system amongst the broader community.

It's exciting to see the advancement occuring and this will definitely set 2022 up for a better year within the cryptoshphere.

What are your thoughts? Will 2022 be a boom year in cryptocurrancy?

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