Bitcoin has really taken the world by storm. From a big idea that looked to be fizzling out to the world’s hottest topic to the future of currency in just ten years is something that sounds like a pipedream. While the first two are already achievements that Bitcoin can lay claim to, the last one is still an uncertain one. While there is a good chance that cryptocurrency will eventually take over as the leading payment method in the world, there is no guarantee that it will be Bitcoin. It does currently stand the best chance, but in the world of economics, you never know what is going to come next. While there is a finite amount of Bitcoin, that each Bitcoin can be split up into 100 million parts means that reaching that limit should be quite difficult to do.
Part of the current level of success for Bitcoin is not just how widely it has been adopted by people, but also the range of countries that deal with Bitcoin.
It is not surprising that America is the most popular place for Bitcoin dealings. With almost 40% of all Bitcoin usage occurring in the US, it does take up a significant portion of Bitcoin deals. Part of this is due to the pure size of the US. Another aspect to the success of Bitcoin in America is the number of vendors that allow the use of Bitcoin as a payment method. America and Canada together have more Bitcoin-friendly vendors than Europe. There are currently over 2,400 Bitcoin-friendly outlets in North America.
However, Europe is not too far behind in the number of vendors. With over 2,000 vendors in Europe, mainly in the UK and Italy, this means two things. First, the two largest trading blocks in the world have the biggest Bitcoin representation – the US and the EU. Despite the ongoing Brexit issues, this is unlikely to have much impact on a decentralised cryptocurrency like Bitcoin. Second, it is mainly technologically advanced nations that have access to the most Bitcoin.
This makes sense because technology is required to use Bitcoin, and the statistics show that the US and Europe have almost five times as many Bitcoin vendors as the rest of the world combined. South America could start to catch up soon depending on the success of Venezuela’s cryptocurrency, but if it is a failure, it could have the opposite effect. However, it is safe to say that currently, America is dominating the Bitcoin-acceptance stakes.
One of the biggest areas where Bitcoin has a market share is online. Most Bitcoin transactions take place in online marketplaces as opposed to in person at a physical retailer. This means that there is a large amount of scope for where Bitcoin can be used in the online marketplace. One area where it is currently enjoying some success is the online casino industry. Here at Bitcasino, we trust the stability and security of Bitcoin to the extent where it is one of the few cryptocurrencies we accept.
No matter what kind of game you would like to play, whether it is slots, table games or live casino games, you can use Bitcoin to pay for your wagers. The additional level of security that Bitcoin offers is highly important when carrying out online transactions. That is why we trust Bitcoin far more than any other payment method. As the premier Bitcoin casino, we make sure that we make the most of what Bitcoin has to offer.
The South American and Asian markets are currently the largest areas for growth for Bitcoin. With currently slightly over 300 Bitcoin vendors on both continents, the framework is in place to increase the volume. There is also the aspect that South America is currently undergoing a degree of technological renaissance, and Asia is already an innovator when it comes to technology. This means that it should not be too difficult to bring in new Bitcoin vendors.
With crime in South America being a serious problem, the introduction of Bitcoin and any possible growth should help to eliminate some portion of it. Due to the peer-to-peer nature of the blockchain, it is almost impossible to steal Bitcoin in transit. This will help South American consumers carry out far safer transactions. The other bonus to using Bitcoin over traditional currency is that people in South America will not need to carry as much money around with them. This will make them less of a target for robbery, and if they do get mugged, they will not lose as much. These factors should be driving forces behind a steady increase in Bitcoin vendors in South American countries, including Brazil and Argentina.
The best place to make a Bitcoin wager is here at Bitcasino. With one of the largest selections of games around, there is nowhere else that offers the ability to play almost any game while also offering the security of using Bitcoin. There are video slots, blackjack, baccarat, roulette, table games and live casino games all on offer here at Bitcasino. We bring the excitement and fun of a real casino to your home. You can easily get that Las Vegas feeling without even having to get dressed. That is the joy of playing at our online casino – we make your fun part of our business.
In addition to the wide range of games that we have on offer, our dedication to providing secure Bitcoin deposits and withdrawals really sets us apart from everyone else. Bitcoin is more secure than any other payment method. This means that as the premier Bitcoin casino, we offer the safest online transactions you can find. Bitcoin is also significantly faster than any other payment method, so there is no more waiting for days for payments to go through. Now is the perfect time to open a player account with us.
Words: Sean McNulty
Images: Shutterstock and Bitcasino