The early adoption of Bitcoin attracted a lot of investors shopping for it. However, there’s only a handful of merchants accepting Bitcoin payments at the moment. The most notable of them are Overstock.com, Microsoft, Newegg.com, and Reeds Jewelers Inc. Just recently, PayPal, the world’s biggest online payment platform, made the announcement on letting its users buy Bitcoins. This statement opened the doors for more than 425 million new Bitcoin users around the globe.
Furthermore, the evolution of cryptocurrency has drawn the attention of many enterprises. Shopify, a multinational e-commerce company, is currently considering the option of moving into the cryptocurrency retail market. The company already supports payments in over 300 digital currencies (including Bitcoin, Ethereum, Litecoin, etc.).
For traders outside of the tech industry, the way they are diving into the world of cryptocurrency might seem like a moving wave. However, it’s crucial to have a clear understanding of the emerging technologies and the potential benefit they might bring to business. The more shopping sites accepting crypto payments will be designed, the more opportunities the retail market will get.