Since its inception back in 2008 Bitcoin has become a legitimate source of payment for many different industries, political campaigns and as a general payment options for services and goods.
Take, for instance, the gambling industry and a site like www.schmittscasino.com which in general carry out monetary transactions with standard currencies like the Dollar, the Euro and the British Pound. When sites like these introduce Bitcoin as a method of payment they are offering a range of features that provide players with a unique gaming experience in an even more safe and secure environment.
The simple fact about Bitcoin is that the crypto currency has a range of qualities that are attractive to both players and the operators alike.
Once of the main benefits of paying with Bitcoin, and one of the main reasons that the online casino industry embraces it is due to the speed of transactions, plus there are no fees to pay for the operator or the player when it comes to making a withdrawal or a transaction. The ease of completing a transaction using Bitcoin is exceptional an almost instant. Of course, there may be the odd delay but we can count those delays in minutes rather than days.
But it's not only the gambling industry that can see the benefits in using Bitcoin as it turns out that Businesses and also Governments from all over the world are accepting virtual currencies, and are in fact partnering up with upcoming third-party Bitcoin services which act as middlemen in order to facilitate the exchange of the cryptocurrency into fiat currency.
Companies like Dell and Valve have partnered with Bitcoin payment service Bitpay, and now the games platform Steam which is the world's most popular online gaming platform will over 125 million users can easily buy a game using Bitcoin to pay for it.
Another company that sells big ticket items at lower prices due to overstocking accepts Bitcoin as a payment method.
Microsoft products on the Xbox and Windows store can be bought using Bitcoin, and global charity organisations let people make a donation using Bitcoin. Save the Children is one of the world's largest children's charity which works in 120 countries providing education, disaster relief and healthcare, as well as protecting their rights.
eGifter also accepts Bitcoin as a way to buy gift cards and these can be used on many popular platforms like Amazon. We can now even make a donation to Wikipedia, the world's most popular free encyclopaedia using Bitcoins.
Zynga is also accepting Bitcoin on selected games as a 'test' to see how it works, and there are even adult entertainment providers who accept Bitcoin as payment for their monthly membership.