Will Bitcoin Ever be a Widely Accepted Currency?

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Over the last decade, Bitcoin has had its fair share of ups and downs over the years in terms of its value. However, there is little doubt that it has increased in value and anyone who invested in the currency a decade ago would be sitting very nicely right now with what they had. Something else that has increased is the number of people using it, as well as the number of companies who accept it from their customers. But is this enough to eventually make Bitcoin a widely accepted currency all over the world? Or will this always be a currency that is limited and not accepted by many people and businesses?

Gambling Leads the Way with Bitcoin Acceptance

There are a handful of industries that have really been behind Bitcoin since the very start and stuck with it through the tough times and those include the gambling industry. From bookmakers accepting bets on sports to Bitcoin poker, there are many ways in which a gambler can go online and place bets or even play in a casino using the popular Cryptocurrency. It is not just new startups that accept the currency, even some of the most established, best casinos online have started taking Bitcoin as a payment method.

The gambling industry offers a worldwide service to their customers, and many people will place bets with a casino outside of their own country, while sometimes they will also bet in a different currency. This means time and fees to transfer funds, something that Bitcoin eliminates, regardless of whether you are playing in your own country or somewhere on the other side of the world.

This is key for the gambling industry, and one of the many reasons why Bitcoin and gambling have come together and worked so well. Bookmakers, casinos and poker websites out there accept Bitcoin, and some will take this as the only form of payment from players, so if it wasn’t for Bitcoin and the success it has had then these websites would have no option but to close down.

What Can We Expect in the Future?

If you look at the past decade, Bitcoin prices have risen nicely and it looks like something that is worth taking a chance on and using. However, a deeper look would see volatile swings in the price for most years in the past decade, and this is what puts people off from investing too much in Bitcoin. People would prefer stability, and it is this stability that is needed to really push Bitcoin to the next level.

If this can be achieved then it would more than likely lead to further industries following the lead of the gambling industry and opening their arms to Bitcoin. This is somewhat of a circle really, because if we do get into this position and more companies begin to accept Bitcoin then more people are likely to use it and that should then cut down the chances of big swings in price like we have seen for the past few years.

There are plenty of reasons for optimism, and it is hoped that new businesses and industries will finally take the leap and join the Bitcoin world.