Bitcoin Has a Growing and Supportive Ecosystem & Economy
Bitcoin (BTC) is becoming a lot more spendable for European digital currency traders and investors. There’s an entire ecosystem and economy being built around not only the flagship cryptocurrency, but also its successors such as Bitcoin Cash (BCH). A number of excellent crypto payment processors such as Paytomat and Wirex are now widely available throughout the progressive continent. Moreover, any merchant that accepts Visa may take advantage of accepting alternative medium of exchanges such as Bitcoin (BTC) and a number of other widely-used cryptocurrencies.
Regardless of what you may hear in the news about regulators cracking down on various crypto-related scams, the reality is that Bitcoin (BTC) is a legitimate medium of exchange. It’s still in its early days, but that does not mean it cannot be used to pay for typical things such as travel tickets or even VPN services. Moreover, Bitcoin provides a safe, secure and decentralized means to exchange value. This excellent use case is often overlooked and instead of focusing on developing a supporting ecosystem and technologies around Bitcoin, there’s heavy emphasis on launching crypto projects and coins which do not have a legitimate chance at being successful.
Paytomat and Wirex Offering Crypto Payment Processing
The better approach at this time would be to focus more on learning just how the Bitcoin protocol works and figuring out ways how you can contribute to providing more real-world use cases for the flagship cryptocurrency. In other words, you do not need to reinvent the wheel. Just stick to the fundamentals and you will find that there are numerous ways to launch a business without having “an out of this world” type coin which claims it will be better than Bitcoin.
Crypto Debit Cards Making a Comeback
It appears that a lot of people have taken this advice such as the creators of Paytomat and Wirex crypto payment solutions. Due to their efforts, Bitcoin or Bitcoin Cash holders are now able to spend their cryptocurrency in numerous retail outlets and even restaurants. Notably, debit cards that provided a way to pay with cryptocurrency were cancelled toward the end of last year. However, this small step back did not get in the way of many crypto-related companies partnering with payment service providers. And now, it appears that crypto debit cards are making a comeback.
Wirex recently sent out crypto payment cards to the UK and a number of other European countries where customers had been waiting for these types of cards to return. Additionally, Paytomat which now supports ZenCash, provides payment solutions for 11 (total) cryptos. However, currently Paytomat is used mostly by Eastern European countries and that too mainly restaurants – but there are over 330 restaurants that use Paytomat. This is still commendable and now reporetedly the payment processor has plans to enter the Western European markets.
Speaking on his company’s expansion, Paytomat CEO Yurii Olentir noted:
“Amsterdam is one of the most crypto-friendly places, so we chose it for our kick-off in Western Europe. With millions of tourists visiting every month, cryptocurrencies can be a very convenient payment method. For example, a transaction in Bitcoin Cash takes just a couple of seconds and the fee is miniscule.”
It appears that payment solutions and the number of merchants willing to transact in digital currencies is increasing despite harsh probes from the US Justice Department into Bitcoin (BTC) price manipulation. Although these crack downs send market prices downwards, it cannot take away from the fact that even long established banks are beginning to take cryptocurrencies a lot more seriously.