Is The High Street Any Closer To Embracing Cryptocurrency?

January 13, 2020

Do you remember when paying by check was the only alternative to cash? The way we work and spend has changed dramatically in even the last two or three years, but has the high street finally seen the light and begun to embrace bitcoin and other cryptocurrencies? Will 2020 finally be the year the high street retailer catches up?

Why Would They?

With payments now focusing on safety and speed, using bitcoin seems like a good choice. If you run an online business then PayPal is probably one of the options you offer, which makes sense as it is a safe and reliable platform that gives the buyer some protection.

But if PayPal and contactless payments on the high street are as far as it goes, why would bitcoin ever be considered as an option?

Cryptocurrency is the future and it doesn’t look like it’s going anywhere. While mainly used for trading, it has also been used to buy property, pay rent and purchase goods.

The beauty of this currency is that this payment is instant and permanent and protects the seller and buyer. Sure that makes refunds tricky, but not impossible, and certainly guards against fraudulent transactions; rife in today’s times.

As traders, you’ll know that there is also the opportunity to add to the bitcoin pot through trading and selling services alongside high street offerings. This diversification makes it an attractive offer for the entrepreneur looking to expand.

The Future

Perhaps one of the most exciting advancements we’re likely to see over the next few months is the increasing availability of cryptocurrency credit and debit cards, creating a more mainstream attraction.

Though currencies like bitcoin are often seen as volatile, their increased use in the consumer market can only lead to a calmer, less unpredictable market, pushing it into the mainstream.

Don’t just take our word for it, researchers from London Imperial College have predicted the trend of cryptocurrency will make a splash on the high street within just a few years, so if you haven’t already, now’s the time to up your bitcoin game.