Bitcoin is the most popular cryptocurrency in the world and it has been around since 2009. It is supported by many tech giants such as Microsoft, AT&T, Wikipedia, Rakuten and more, but things weren’t the same till 2017. The famous crypto boom started in 2017, and due to this boom, many people came to learn about Bitcoin and cryptocurrencies for the very first time. Since then, things have changed drastically for the crypto community. In this guide, we will tell you about the new e-commerce app, Bitplaza, and we will also discuss some of the recent advancements in the crypto space.
Intro to Bitplaza
Bitplaza is a US-based e-commerce platform that allows users to do shopping using Bitcoin. It is the first-ever mobile app that allows people to buy things for everyday needs using Bitcoin. The app has a wide selection of products and supports international shipping as well. The company is also making it easier for brands to accept Bitcoin by allowing new listings on the shopping platform.
How Bitplaza Is Adding Value to Bitcoin and the Whole Ecosystem?
As mentioned earlier, Bitcoin was released in 2009 but its whitepaper was released back in 2008. The main vision behind the invention of Bitcoin was to remove the third party and allow the two parties to do the transactions, for buying and selling things, without involving any third party such as a bank. The inventor of the currency wanted to present Bitcoin as a payment solution which one could use for everyday payments.
Since the inception of Bitcoin, the biggest challenge was to appeal to the general public because it was being advertised only as an investment or a way to earn an additional income by mining it. Many people are still not aware that cryptocurrencies are the cheapest and most efficient way to send money overseas. In addition to that, Bitcoin is a safer way to transact online when making purchases or payments of any kind. Bitplaza is a platform that has the potential to change the whole scenario for Bitcoin and make it a spendable currency on a global scale.
The Bitplaza app allows consumers to buy whatever they want with their Bitcoin. Bitplaza offers access to products from popular brands such as Apple, Samsung, Sony, Nikon, Nintendo, HP, Dell and many more. Similar to Amazon, you can buy your everyday products such as electronics, groceries, appliances, gardening products, and even food for your pet.
Bitplaza offers everything you need under one platform and you can buy it with your bitcoins. That was the vision behind the invention of Bitcoin and Bitplaza is turning it into a reality. As Bitplaza moves forward, it will help the growth of Bitcoin as a currency of everyday use.
Big Developments in Bitcoin Space
The Crypto Boom of 2017 changed the whole scenario for cryptocurrencies and mainly Bitcoin. In this section, we will discuss some of the big developments which will affect Bitcoin and other cryptocurrencies in the near future.
Big Tech Companies Have SIarted Supporting Bitcoin
The survival of any technology depends on its adoption and the big tech companies always play a vital role in the whole process. After the crypto boom in 2017, many tech companies began looking into Bitcoin and other cryptocurrencies very seriously and some began adopting them which is helping promote Bitcoin in the long run. The following are some of the major companies which have started supporting Bitcoin.
Microsoft is one of the biggest tech companies out there and it allows users to use Bitcoin to top up their Microsoft account.
AT&T is a major US mobile carrier that allows customers to pay their phone bill using Bitcoin through BitPay.
Twitch is the most popular gaming streaming platform in the world and has Bitcoin payment options. The company is owned by Amazon (AMZN). Twitch removed the Bitcoin option in the past but decided to enable it again.
Rakuten is the Japanese e-commerce giant and it competes directly with the Amazon. The company has launched its own crypto exchange and it also allows its users to convert loyalty points into crypto.
Similarly, companies such as Gyft, Mega, ExpressVPN, Wikipedia and many more also accept Bitcoin as payment options.
Lawmakers Embracing Crypto
One of the major reasons why Bitcoin and other cryptocurrencies were unable to become popular is because of hurdles from lawmakers and authorities. In the last two years, things have started to change and there are signs that cryptocurrencies will get support in the future.
In July of 2019, the FCA authorized the first-ever cryptocurrency hedge fund in the US. It was launched by the Prime Factor Capital. The launch of the cryptocurrency hedge fund in the US is evidence that things are moving in the right direction. Moreover, the US Congress is also reportedly working on a series of bills that will help tackle legal issues regarding Bitcoin and allow the people to use Bitcoin and other cryptocurrencies for smaller payments. According to Forbes, US lawmakers are currently considering around 21 cryptocurrency and blockchain related bills.
Bottom Line
Bitcoin and cryptocurrencies are considered the currencies of the future. With support from big tech companies and lawmakers, Bitcoin and cryptocurrencies have a great future. Moreover, projects such as Bitplaza will help the whole process of adopting Bitcoin and cryptocurrencies as a payment solution.
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