Which Cryptocurrency Is The Most Used As Money, Bitcoin Or Altcoins?

Which among the cryptocurrencies is most widely accepted as money all around the world?

  • Bank of America, Nouriel Roubini: Bitcoin, Ethereum, and other cryptocurrencies produced the greatest bubble in history
  • “Use bitcoin” lists about 5000 businesses and retailers that accept cryptocurrency as payment
  • Bitcoin (BTC) is the cryptocurrency that is most accepted and used worldwide as money

Bank of America, Nouriel Roubini: “Bitcoin, Ethereum, and other cryptocurrencies produced the greatest bubble in history”

It isn’t a hidden fact that a lot of mainstream economists do not regard cryptocurrencies highly. According to the Bank of America and Nouriel Roubini, even when the “Bitcoin, Ethereum, and other cryptocurrencies produced the greatest bubble in history, they are neither a good way to store capital nor a serious method for payment.” However, even when traditional financial experts have been complaining time and again about how the volatility of cryptocurrencies make them not to be viable as actual currencies, It is still very possible to use them as money in many places, and it can be spent on just anything ranging from shoes to even pizzas.

But then, which among the cryptocurrencies is most widely accepted as money all around the world?  The answer to this question is Bitcoin, which is not surprising at all. Reason being simply because it is more accepted widely as a form of payment than any other cryptocurrency in the digital market.  However, other cryptocurrencies are beginning to gain more acceptance by companies and retailers.  Plus, judging from their superior scalability, they might just end up overtaking the original cryptocurrency in no distant time.

“Use bitcoin” lists about 5000 businesses and retailers that accept cryptocurrency as payment

Places Where Bitcoin Are Accepted

There isn’t really a single comprehensive list of every company in the world that accept cryptocurrencies as a form of payment for services rendered even though there are a number of websites that give a general overview of which company is accepting what currency. The most helpful amongst these websites is the Virtual Coin Squad which lists a number of companies alongside all the cryptocurrencies that they accept.

According to Virtual Coin Squad, about 54 significant companies accept cryptocurrencies as payment currently.  And amongst all these companies, only two, Mazefit (sportswear) and Shiny Leaf ( cosmetics) do not accept Bitcoin. It isn’t just 55 companies that accept cryptocurrency as payment; there are also many others. Use bitcoin lists about 5000 businesses and retailers that accept cryptocurrency as payment and a majority of them if not all accept Bitcoin.

Bitcoin (BTC) is the cryptocurrency that is most accepted and used worldwide as money

Conclusion

From the analysis in this article, it is clear that bitcoin is the cryptocurrency that is most accepted and used worldwide as money. However, there are some other strong challengers in the market which are posing a threat to take over from Bitcoin in a few years time as there are specific problems that are involved with Bitcoin like scalability issues, network issues, etc.


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