[Wise Crypto Life] 25. Cryptocurrency & Daily Life

 

[Wise Crypto Life] 25. Cryptocurrency & Daily Life

It has been more than a decade since cryptocurrency has been around, but its utilization in real life is yet limited. However real life cryptocurrency use cases are gradually expanding. In this edition of Wise Crypto Life, we would like to introduce overseas cases applying cryptocurrency in everyday life.

Rise in ATM Cryptocurrency Withdrawals

Last month, U.S. retailer Wal-Mart announced that it had installed about 200 ATMs that could deposit and withdraw Bitcoin. In July this year, convenience store Circle K, which already has about 10,000 stores in North America, also installed cryptocurrency ATMs at about 700 locations, as the demand continues.

The advantage of a cryptocurrency ATM is that you can purchase cryptocurrency or exchange to cash directly minus the conventional method of an external exchange.. Additionally. in some countries that do not have a system for cryptocurrency transactions, the need is even higher as it can solve the inconvenience of having to carry cash directly or find a target to trade with P2P for cryptocurrency transactions.

In 2013, when cryptocurrency ATMs first appeared, there were only five ATMs around the world, and as of November 2021, more than 30,000 cryptocurrency ATMs were installed in 75 countries. The largest number of ATMs exist in the United States, and cryptocurrency ATMs can also be found in countries located in Central America, such as El Salvador, which recognized Bitcoin as a legal currency, and Honduras. Although ATMs are also installed in a small number of Asian countries such as Hong Kong and Taiwan, they are insignificant in total of less than 300.

Cryptocurrency ATMs were installed in Korea in the past, but now they do not exist due to service interruption. However, a domestic parent company has announced its plan to install ATMs, so hopefully we will be able to see cryptocurrency ATMs again next year. AMC Supports Cryptocurrency AMC, the largest movie theater company in the United States, said it supports cryptocurrency payments. Currently, in the United States, four types of cryptocurrencies, including Bitcoin and Ethereum, are available when booking movie tickets at AMC. It is said that it will expand its scope so that more diverse coins can be used in the future, with DogeCoin and Shibainu also in the running.

Bit Pay, Black Friday Cryptocurrency Discount Bitpay, the world's largest cryptocurrency payment company, offers additional benefits for customers who pay with cryptocurrency at the Black Friday event starting November 26 and the Christmas event next month. Bitpay said, “There are many customers looking for a route to use cryptocurrency," adding, “We have prepared such an event.

It is becoming more visible that more companies are trying to solve those needs worldwide. Our KOK also provides services that can increase the utilization of cryptocurrency through the use of content and shopping malls, and we also have plans to introduce services which will utilize our KOK more widely in the future. We hope that cryptocurrency payments will be accepted through more diverse facets, resulting in a positive cycle in which the value of cryptocurrency will grow further.