Bitcoin’s ease of use has often been cited as a significant hurdle to mass adoption. If I can’t spend it easily what use does it have?
This situation is changing fast. it has never been easier to buy and now spend cryptocurrencies, particularly Bitcoin.
On 21 October Paypal lanched a new service enabling users to buy, hold and sell cryptocurrencies. It appeared to prompt a spike from $12,000 to 13,000 despite the news of their tie-up with crypto custody and brokerage firm Paxos being well telegraphed.
Securing $142m of Series C funding Charles Cascarilla, CEO and co-founder of Paxos, commented, “In the last year, global adoption of crypto and blockchain-based solutions by enterprises has accelerated. We are proud to count among our clients’ global leaders in payments, banking, trading and fintech, such as PayPal, Credit Suisse, Societe Generale and Revolut. Paxos is uniquely positioned to address the digital asset needs of global brands and bring our solutions to enterprises with trillions in assets and billions of end users.”
Earlier this month Revolut, a UK based challenger bank with over 12m customers, made buying BTC perhaps the easiest I have seen. With five taps on the app my daughter joined the masses ‘investing” in crypto with a monthly buying plan.
Michael Saylor, the co-Founder and CEO of MicroStrategy invested $450m of their corporate treasury into Bitcoin and believes $10-15bn of BTC will be sold on mobile phone apps.
Companies like Bitpay are enabling businesses to accept bitcoin as payment for goods and services. Check out their curated list of merchants that accept Bitcoin. From Amazon to private jets.
Shopify has integrations to allow merchants to accept cryptocurrencies on their platform. Shopify powers over one million businesses in over 175 countries.