Business 3 months agoErik Gibbs
North Queensland at the front of Bitcoin BCH adoption
Queensland, Australia, is at the forefront of cryptocurrency adoption. As awareness continues to grow, the area is quickly turning to crypto and one digital currency stands out above the rest—Bitcoin BCH. Given Bitcoin BCH’s goal of being the leading retail-driven cryptocurrency, it isn’t too surprising that it would become a favorite.
North Queensland now has 73 companies and 33 retailers who now accept Bitcoin BCH. The crypto can be used to pay for a variety of goods and services, from artwork to clothes, and from gym workouts to tattoo removal.
Sitting down for a nice cup of java at a number of area cafes and paying with Bitcoin BCH is also possible, as is paying for auto repairs. The list of options expands almost constantly and the area also has its own Bitcoin BCH meetup, as well as a Bitcoin BCH-only ATM.
Virtually on a weekly basis, a new image pops up on social media platforms showing another retailer that has been added to the space. The businesses have focused almost exclusively on Bitcoin BCH, reducing the amount of confusion stemming from the new industry and the seemingly endless names of cryptocurrency options.
One Reddit user summed up the decision to focus on Bitcoin BCH, saying, “Many merchants in North Queensland are choosing to accept only [Bitcoin BCH]—North Queensland is also seeing the appearance of [Bitcoin BCH-only] ATMs—As these merchants are well informed and well organized, why are they choosing to concentrate on bitcoin cash for their electronic commerce needs. Concentrating on simply bitcoin money permits the North Queensland service provider teams to eradicate a great amount of buyer confusion and extra simply present technical help for his or her service provider members.”
In August, merchant adoption of Bitcoin BCH exploded by 52%. This is a huge step forward and is driven by the realization that Bitcoin BCH has the ability to offer extremely fast transaction times at virtually no cost. This makes it an extremely viable alternative to fiat and is helping the digital currency receive wide-reaching adoption across the globe.
Bitcoin BCH is also gaining ground in the Philippines. Given that it has only been just over a year since Bitcoin BCH forked off the BTC chain, the progress it has made being accepted as a retail payment alternative has been extremely impressive.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Satoshi Vision (BSV) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BSV is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Business 4 hours ago
Canadian city introduces its own cryptocurrency to boost its economy
It’s no secret that the Canadian city of Calgary has an affinity for cryptocurrencies. Due to its relaxed regulations over the crypto and blockchain ecosystems, it has long been a go-to destination for businesses in ...
Business 5 hours ago
Dr. Craig Wright on why crypto doesn’t need another Silk Road
What may have been a founding application of cryptocurrency isn’t necessarily what defines its future. Just as much a part of the “Wild West” environment associated with crypto as gunfights at high noon in the ...
Business 15 hours ago
British MP wants local tax paid in crypto
Citizens might soon be paying for their local taxes and utility bills using Bitcoin and other cryptocurrencies. A member of the British Parliament, Eddie Hughes, a conservative MP for the Walsall North constituency, wants residents ...