enterprisesecuritymag

The Evolution of BTC

By Enterprise Security Magazine | Wednesday, May 22, 2019

Bitcoin (btc) is the first cryptocurrency, and certainly the most popular. The rapid rise of its valuation in 2018 urged many investors to invest in the cryptocurrency, with hundreds of users joining exchange websites every week. Based on the recent cryptocurrency trends, it is likely 2019 will be dominated by btc.

Several major cities in the U.S. are preparing for the launch of btc compatible ATMs. Chicago and Philadelphia have already launched as much as 100 machines, deployed solely for btc transactions. Many traditional ATMs in New York are also compatible with btc, enabling users to create accounts with Liberty X, a btc payment provider. Users can utilize their debit cards to buy btcs up to the value of $3,000 per day. Introduction of btc compatible ATMs will promote people to carry out their transactions through btc, thus popularizing the use of cryptocurrency.

Btc eliminates the need for possessing a bank account. As a result, many of the central banks are likely to endorse cryptocurrencies, especially in countries which are rife with conflict and financial crises. Central banks cannot always entrust their bonds to foreign banks or government bodies, which are subject to political pressure. Leveraging cryptocurrency will minimize the involvement of third parties.

Recent trends show an increase in companies endorsing the use of btc by tourists and travelers. People often visit currency exchange centers when traveling to different countries. This arduous necessity can be eliminated with the introduction of btc payments. With regard to the convenience of using cryptocurrency, the tourism board of Germany has already adopted btc as a payment method for its services. Even in Australia, a beach town in Central Queensland was named the first digital currency-friendly tourist town.

The smartphone industry is also experiencing a btc trend. Several tech companies are already pushing the introduction of smartphones with integrated wallets for storing cryptocurrencies. HTC, a leading smartphone manufacturer, recently introduced Exodus 1, a blockchain-based phone with an integrated cryptocurrency wallet, which facilitates quick and easy cryptocurrency transactions between users. Whether these trends will lead to the global acceptance of btc is subject to speculation, but the user base of cryptocurrencies is steadily growing.

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