With the downturn in market prices of cryptocurrencies, how are businesses looking at using cryptocurrencies today?
The usage of fiat currency for the exchange of goods and services may soon be a thing of the past because of how quickly blockchain technology is spreading around the world. The decentralized digital currency known as a cryptocurrency is attracting European businesses due to several advantages.
UK Recycler Begins to Accept Cryptocurrency
Jason Humphries, the IT manager of Vaculug, said that the company decided to use blockchain and cryptocurrency to fulfill client needs. He went on to list more advantages of cryptocurrencies, such as rapid and affordable transactions.
“Blockchain technology is not only here now, but also tomorrow. According to our predictions, all businesses will need to accept cryptocurrencies.
We are proud to be the first recycler to accept cryptocurrency because we believe that all businesses will soon be required to do so”, according to Humphreys.
As a customer-centric business, he continued, “We believe that we must keep up with the times and give our customers more options than just pounds and pence. Additionally, this minimizes transaction costs for all parties involved and gives our consumers greater value.”
Notably, the introduction of cryptocurrency payment features coincides with a significant decline in 2022 in the value of all digital assets worldwide. However, as they try to leave the bear market, Bitcoin and Ethereum have seen modest rises since July.
Most international businesses are generally increasingly integrating crypto payments into using cryptocurrency perks like quick payments into their business to draw in new clients.
The luxury watch sector, according to Finbold, is one that is seeing a surge in crypto payments despite the increasing volatility. Among the leading companies accepting cryptocurrency payments are TAG Heuer and Hublot.
Ethereum will go ‘green’ after the merge
Coinbase will “meaningfully benefit,” according to Kenneth Worthington, an analyst at JPMorgan, from the much-anticipated Ethereum (ETH) blockchain Merge upgrade, which is slated for September 19, 2022.
According to a StreetInsider story from August 17, the analyst claims that the cryptocurrency exchange has recently taken significant steps “to optimize the value of Eth staking for its clients,” which Worthington argues should lead to higher income creation for Coinbase itself.Share & like