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The travel services industry & fast-food chains are among the leading contributors to the growing acceptance of cryptocurrencies as a means of payment for goods & services, a study published on Tuesday showed.
Travel ranks first among the top 10 crypto-friendly industries, with 11.5% of businesses in this sector accepting digital assets, according to a study by Traders of Crypto. E-commerce is second at 11.06%, while charities & non-profit organizations are third. 9.13%.
Meanwhile, fast-food chains like Burger King, higher education institutions, and sports teams are among the large companies & entities acting as early adopters of cryptocurrencies.
The increased adoption “reflects a major shift in public perceptions of cryptocurrencies, with consumers & businesses finally realizing their value,” Traders of Crypto said in a note.
The cryptocurrency research website began its study by reviewing a variety of general & specialized news sites to create a list of companies that accept cryptocurrencies.
“However, cryptocurrency adoption is still in its infancy, and most digital tokens accepted by businesses tend to be limited to bitcoin and 1 or 2 major leading cryptocurrencies like Ethereum,” it said.
The travel industry has been “quick to recognize” the growing demand for the availability of crypto payments, with Expedia leading the way by allowing customers to pay for hotel reservations using bitcoin. Airlines such as AirBaltic, Norwegian Air & LOT Polish Airlines have also decided to accept cryptocurrencies as a means of payment.
The study showed that Burger King & McDonald’s are among the biggest fast food companies in the world that have started experimenting with cryptocurrency payments. Burger King has conducted trials in Germany, the Netherlands & Venezuela. McDonald’s is working on it in El Salvador, the first country to adopt bitcoin as legal tender – and chicken chain KFC has experimented in Canada.
Portuguese soccer club Benfica’s acceptance of bitcoin & ethereum for fan merchandising made it an early adopter in the sports world. In American professional sports, the Dallas Mavericks, Miami Dolphins, San Jose Earthquakes in football, and San Jose Sharks in hockey include cryptocurrencies as payment options.
“Also our love lives have been crossed by the unstoppable tide of progress,” with dating site OkCupid accepting bitcoin payments as early as 2013, Traders of Crypto said. OkCupid is operated by Match Group. Badoo & Luxy are other dating sites that accept crypto payments, it said.