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The Endless Possibilities in Which to Spend Your Bitcoin

29-09-2020

The way cryptocurrency and specifically, Bitcoin, has taken the world economy by storm in recent years is remarkable. Despite its legitimacy, many have skepticism towards this new form currency purely because of its historic associations with black markets and under world activities. But, whilst many remain against cryptocurrency and bitcoin, many are embracing it from the regular citizen to the 1%. As cryptocurrency becomes more common in everyday life, it is becoming much more accessible to many, much more popular within commercial platforms and easier to use. Indeed, nowadays you can easily exchange your bitcoin or cryptocurrency for gift cards for major high street brands, pay for long haul travel or donate to well-known charities. There really are endless possibilities in which to spend your bitcoin now. Another main player in the rise of bitcoin spending is its use in online betting, which is without a doubt a huge market for the cryptocurrency market to exploit, betting sites are even offering bitcoin bonuses. It will be this market that we will focus on within this article.

As bitcoin has risen in popularity it has started to grasp sponsorship deals and relative trust from individuals. This has allowed many to adopt payments from bitcoin. The NBA’s Sacramento Kings have been accepting bitcoin for payment towards their ticket prices and merchandise sales. This marked the first arrival of bitcoin into mainstream American League sport and it has since only multiplied. As bitcoin has garnered interest from the general public, it has sparked interest from athletes in the big four leagues. So much so NFL stars have actually requested that their salary and contracts include bitcoin rather than USD. An introduction of this kind along with the expansion of many of the franchises accepting and operating in bitcoin may not only surge the companies investments through the lucrative cryptocurrency but also change the way the whole leagues operate their finances.

As I mentioned before, luxury or long-haul travel is another route in which bitcoin has managed to secure their grip. A huge amount of travel companies and flight services are starting to make the change and accept bitcoin as a valid form of payment. This means you can now use your bitcoin to pay for long-haul flights or, more importantly, flights to the next away game location. For a true fan in any of the big four leagues, you will now be able to bitcoin your way to supporting your team away from home.

As bitcoin and cryptocurrency has popularised, its influence on the betting sphere has risen. Infact, using bitcoin for gambling either legally or illegally has become a huge thing. For a lot of Americans, the use of bitcoin to continue sports betting through the national ban of sports betting (asides from Nevada) has been a huge saving grace in the last few years. The untraceable nature of cryptocurrency along with its online status make it perfect for illicit betting online. On top of this, with the legitimacy of sports betting being granted to more states in 2018 - which is only looking to increase to more states in the coming years - there is an increasing legal betting market in America and this means not only swathes of online gambling companies are starting to crop up, but within this these companies are sure to accept bitcoin. This is a perfect way to spend your bitcoin and hopefully make some healthy profit in return.

In the same vein as increased opportunities to bet in America pathing a way for increased bitcoin spending is Fantasy teams. In recent years fantasy teams for all the big leagues in America have become a huge thing. Millions sort out a team and week on week adjust it in a bid to win a prize at the end of their league. The virtual game is a massive player for teams in all of the big four American sports leagues, bringing in huge amounts of revenue and advertisement. Additionally, fantasy football itself is now accepting bitcoin or providing prizes in bitcoin. The acceptance of the currency by something so big as this is yet another indicator of how important bitcoin has become as a currency around the world. This has led to its increased trust and presentation to normal people. In turn as more normal people have started to use it, there has been a shift to incorporate bitcoin into many facets of life and when it comes to American sports leagues they are really taking the bitcoin shift in their stride.




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