Today cryptocurrencies are one of the most important topics on the financial markets. Not only are they not met with skepticism as they were before, but they were also accepted as a form of payment among businesses around the world. In fact, today, there over 15,000 businesses that accept BTC, for example, and a lot more are accepting crypto payments.
The road to mainstream adoption of crypto has been without any struggles. Actually, the first virtual currency was created in 2009 by Satoshi Nakamoto, and ever since that happened, the crypto market has expanded and grown dramatically. In fact, they are generally considered a great alternative to traditional payment options today. If you’re curious to learn more about the origin of crypto and how they are used today, keep reading.
The First Cryptocurrency
The first virtual currency was Bitcoin, and it was developed by Satoshi Nakamoto. The real identity of Nakamoto is, to this day, still a mystery, but we all are familiar with the purpose of Bitcoin. It was created among a group of cyberpunk enthusiasts who believed that traditional fiat currencies were too much reliant on financial institutions and the government.
Another motivation was the financial crash in 2008. This is why Nakamoto, along with his community of supporters, has worked to create a decentralized digital currency that is independent of financial institutions like banks. After it was invented, Bitcoin was used among a small group of crypto supporters. But, as the benefits of BTC became widely known, it was also accepted by various organizations and businesses.
Usage of Crypto
Today cryptocurrencies are used across different businesses, and as we mentioned in 2021, there’s an increased number of businesses that accept crypto. For example, there are casino sites that are up to date with the latest technological innovations, and there are actually a lot of Bitcoin casinos that accept BTC payments. For instance, this is a reliable Bitcoin casino that accepts players from Nigeria, and you can play your favorite casino games like poker with your BTC. Actually, you can choose from a great range of poker games that are suitable for every player. Regardless of your preferences, there is something for everyone here.
Otherwise, crypto payments are accepted by famous businesses like Overstock, Venmo, Twitch, Home Depot, Microsoft, Burger King, and many other small businesses that operate online and offline. In the beginning, there weren’t many businesses that supported BTC or any other currency. But, that changed over the years.
Actually, Overstock is known for being one of the first businesses to accept BTC payments. But as the technology progressed and different crypto wallets become available, there were a lot more businesses that supported the mainstream adoption of crypto.
The Emergence of the Crypto Market
Today the crypto market features over 4,000 different altcoins, which are also based on blockchain technology ( the original technology which was used for Bitcoin), and although there are differences among them, what they have in common is they allow users to make investments and make crypto transactions with minimal transaction fees.
The crypto market was based on different crypto trading sites, and although not every trading site is functioning today, there are actually a lot of different and new online trading sites which allow users from different corners of the world to invest in digital currencies.