Using digital currency in trade
Digital currencies, especially Bitcoin and Ethereum, are becoming an important part of the commercial transaction world. With a total market value of over $2 trillion, these currencies represent significant growth in usage and adoption. Experts predict that cryptocurrencies might compete with gold as long-term investments.
Regarding global regulations, countries have different stances on digital currencies. Some countries, like certain states in the USA and members of the European Union, have legalized activities related to digital currencies, while others, like Iran, still lack specific regulations in this area.
Using digital currency in commerce has many benefits. These currencies allow for fast and inexpensive money transfers, offer high security, and do not require a traditional banking system. This can be particularly useful in international transactions, as the transactions are less expensive and more secure. Digital currencies also protect against currency rate fluctuations and securely maintain transaction records.
However, there are challenges as well. The main obstacle to using digital currencies in international trade is their illegality in some countries. This issue can create limitations for traders and businessmen who intend to operate globally.
Leading companies in the use of digital currency in commerce today, due to the tremendous popularity of digital currencies, a large number of reputable global companies in various fields such as information technology and airlines have welcomed conducting their transactions using cryptocurrencies.
These major companies allow their customers to make purchases of their goods and services using cryptocurrencies, especially Bitcoin (BTC). We will review five major global companies that intend to provide their customers with the ability to purchase their products and services using digital currency:
1. **Microsoft**: As the largest IT company, Microsoft intends to implement the use of Bitcoin to increase the credit of user accounts for its services like Xbox Live and Skype.
2. **Amazon**: The world’s largest e-commerce company has not yet launched a service to purchase products via BTC, but discount coupons of this company are sold by the brand Bitrefill as cryptocurrency purchases.
3. **PayPal**: Currently, the international money transfer service company (PayPal) has made it possible for its users in the United States and the UK to purchase digital currencies. Now, the purchase of cryptocurrencies like Bitcoin and Ethereum is available through PayPal.
