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It is a known fact that revolutionary changes that hold a potentially deep effect on the course of the society are slow to take root.
Without diving into the intrinsic details about the reasons why we are slow to accept life-changing ideas, it is important to mark the connection between practicality and media representations as the catalyst for introduction of an idea to households. If you can use it and see others using it, you’ll become a customer as well.
One such idea emerged with the appearance of the notorious cryptocurrencies. The idea of a currency revolution which can improve our lives by creating efficient and easy options is not outrageous – it is, in essence, revolutionary.
Even though there are many questions surrounding these currencies, one major question always stands out: where can you actually use them?
Where Can You Use Your Digital Assets
The difficulty with cryptocurrencies is that there aren’t many services where you can actually use your digitalized cash. However, in a move to introduce Bitcoin, Litecoin, and other similar currencies more into our daily routines, several major enterprises now accept cryptocurrencies as forms of regular payments.
Whole Foods, Bed Bath and Beyond, Starbucks, and Nordstrom are just some of the retailers and services that accept any of the cryptocurrencies such as Bitcoin, Litecoin, and Gemini dollars. All this is available through the new SPEDN wallet powered by Flexa. The wallet is easy to use – simply load your digital assets to the wallet and by scanning the barcode within the app, you will be able to initiate the payment. Flexa is responsible for the currency conversion to U.S. dollars for retailers.
In terms of practicality, this will surely benefit the transition to digitalized cash for everyday shopping. Being able to pay for groceries using zcash or Gemini dollars will help us perform our ordinary tasks easier because the advantage of being able to pay on the go is not something we can easily overlook.
For now, more than 15 retailers are in agreement with Flexa over the acceptance of digital currencies, but more companies are sure to follow as well very soon.
Right now, to name but a few options, you can go for a cup of coffee at Starbucks, browse the selection of books at Barnes & Noble, play favourite casino games in online bitcoin casinos, or even buy a brand-new X Box from GameStop if you wish.
The added bonus with using these currencies is the fact that payments are processed much faster. In fact, millions of Litecoins can be processed in a couple of minutes, while if you’re using other currencies and payment methods, you would have to wait days for the transaction to finish.
Although the public interest in cryptocurrencies is very active, the peak is yet to happen as people generally are still very cautious in using digital assets due to the volatility of its value.
The Significance of Cryptocurrencies and the Future of Commerce
Despite being quite volatile, cryptocurrencies are on the rise in terms of popularity as the hunger for digitalized lifestyle options grows.
In the society of today, we cannot stress enough the importance of the internet. You might deem it irrelevant, but the fact that services focusing specifically on the virtual world are in such high demand, replacing reality with virtual webs might not seem too far-fetched.
Using the internet for payments is not new – dozens of payment methods specialize in this area precisely because it is more efficient and gives the customers more room to experiment and be creative with their money.
However, those methods still use the standard currencies, or should we say: traditional?
On the other side of the spectrum, the cryptocurrencies are starting to enter households on a daily basis. Each day, more and more people turn to these means of exchange, but the peak and general inclusion have not yet been achieved.
The reasons for that are manifold, but one argument emerges as the main: they are unpredictable and volatile. Harsh trends and major ebbs and flows of these specific digitalized currencies do not make them safe and stable to use.
But when we think of it, it is more like a vicious circle: if people do not use it, or large groups of customers appear then abandon the currencies, they will experience severe plunges or peaks in terms of value. That, in turn, will push the customers towards or away from this type of exchange, and further influence the inconsistent flux of cryptocurrency value.
One move towards the stabilization of cryptocurrencies – in both customer usage and public opinion – are the companies that now accept cryptocurrencies.
Several major companies operating in various industries choosing to include cryptocurrencies is a clear sign of moving forward into the future. A future that, by all accounts, will be volatile but potentially very bright.