There is no doubt that cryptocurrency continues to divide opinion, with many sitting at opposite ends of the spectrum in regards to their feelings surrounding digital currency. However, it is also hard to deny that many are starting to come around to the idea of seeing virtual currency be a social norm and a payment method that could be implemented as a viable payment method in the near future.
Indeed, there are many that are against the idea of seeing crypto become a form of legal tender, although it could be argued that those that are against it becoming as such are those that are positioned within the financial industry or those that are positioned within governmental bodies.
Whilst there have been some governments around the world to have either acted on implementing virtual currency as legal tender, such as El Salvador’s decision to introduce Bitcoin Law, there are a number who are concerned about the decentralised nature of the digital asset whilst others simply laugh it off and suggest that it is “pointless” or even “useless” and “is not real money”.
Popularity for crypto has soared across multiple industries
Nonetheless, this has not stopped the wider population as numbers have soared in regards to adoption of crypto in recent years, with the likes of Bitcoin and Ethereum having been able to increase exceptionally in value since they were introduced. Understandably, there are a number of reasons why this has happened, with more and more businesses and industries already starting to accept payments via this particular method.
The iGaming sector is one such industry that has already decided to adopt crypto payments, with the introduction of an ETH Casino becoming more commonplace within the market. This is because many bettors have turned to using digital currency because of the benefits and advantages that they can experience when using it compared to traditional fiat finance.
For instance, benefits include faster transactions that can be a lot cheaper, whilst others will simply enjoy the decentralised nature that was spoken of earlier, as their betting activities can not be tracked and they can keep themselves anonymous as they protect themselves from any potential scams because of the blockchain technology utilised.
It is not just the iGaming sector that has decided to adopt crypto as a form of payment, though, thus further highlighting why the digital asset is starting to show that it is becoming socially acceptable around the world.
Some of the biggest companies across a variety of different sectors, including entertainment, sports, technology and many others, have already made it possible for crypto holders to use the tokens that they hold to purchase products and services that are available.
There is no doubt that there is still a rather long way to go to suggest that cryptocurrency will be fully accepted in society, although it would seem that there has been progress in recent years and that it could be a possibility in the future.
Crypto still has its sceptics and those that either do not understand it or do not quite believe in it, however with the world’s population seemingly embracing the digital asset currently, whilst new generations of people take an interest, it might not be long before we see crypto payments accepted everywhere.