In a world where everything is digital, your virtual assets have much more value than they would have, say, 20 years ago. One of the biggest developments in this trend is digitization of money.
Digital money, which is also referred to as cryptocurrencies, have been created to offset a myriad of drawbacks and limitations of fiat currencies. The conventional currencies such as USD, EUR, and others are the most used methods of payment, therefore, they’re susceptible to many security risks, including cyberattacks, digital thefts, and more.
With cryptocurrencies, however, all of those and many other drawbacks are successfully eliminated and you get the fastest, most secure and anonymous method of payment in the world.
So, now that you know what advantages you get when using Bitcoin or other cryptocurrencies, let’s now see where you can use them. In Australia, there are already several areas where Bitcoin payments are accepted. We can categorize them into five different segments:
Shops and Restaurants
Yet another industry which accepts Bitcoin-powered payments is shops - and restaurants, for that matter. In Australia, several different cafes are already selling their products for Bitcoin. For example, one Melbourne-based café called The Little Mule Cafe is selling food and drinks ranging from coffee to alcohol and accepting Bitcoin for payments.
IndustTEC, which is an electronic shop, also receives Bitcoin payments. They sell electronic gadgets and devices such as consoles, laptops, and more using Bitcoin.
In the luxury properties industry, there are already some areas where Bitcoin payments are accepted. There have been reports about Aussies purchasing their real estate and other luxury properties using Bitcoin.
Some real estate entities are even making a list of their products that can be purchased with virtual currency. This trend in the Australian real estate industry can be linked to the recent report that a Melbourne homeowner sold his property for Bitcoin.
Since gambling is one of the most popular forms of entertainment in Australia and one of the wealthiest as well, it would be strange if the industry had no high-quality Bitcoin guide and support. And this is certainly the case for Australian casino operators.
Ranging from online all the way to land-based casinos, there are many firms and establishments that use Bitcoin and other cryptocurrencies as their main payment options. And since gambling is a time-sensitive endeavor, you can have your deposits and withdrawals executed instantly using Bitcoin.
The automotive industry is also accepting Bitcoin payments in Australia. There’s one car dealer called Scuderia Graziani located in Woolloomooloo selling the most high-end supercars like Lamborghini, McLaren, and Ferrari for Bitcoin.
And last, but certainly not least, you can use your Bitcoin funds for your education in Australia. In particular, there’s the Flinders University in South Australia which has several campuses. Here, you can use Bitcoin to pay for your university tuition. In fact, the ability to use Bitcoin has been in Flinders since 2014.