Bitcoins are becoming well known and a staple currencies across the globe, but are they in Canada? It is time to take them seriously despite general skepticism. Many consider their acceptance risky and illegitimate.
One industry already on board are online casinos. So why doesn’t Canada’s big time JackpotCity online casino not currently accept Bitcoin. Afterall, several fringe online casinos are accepting both Bitcoin and Altcoins.
Many industries are in the game yet market leaders are snubbing their noses. In Canada, those avowing acceptance, among others, are Toronto’s Grossman’s Tavern, Steamrollers in Vancouver, Stretch Yoga, The Tech Guys and TheTaxMan.
If you want to use your cryptocurrency, you will have to do a bit of scouting. However, while you wait to find the right targets, you can always buy gift cards in Bitcoin. Some value may be sacrificed in the exchange, however.
Shopify is a good place to spend your Bitcoin in Canada. It is an e-commerce giant in contact with tons of small business websites. Many have the infrastructure for online sales and take Bitcoin freely. No doubt many of these bitcoin casino sites are Canadian.
Reportedly, the Bank of Canada has been searching for economists with expert knowledge in cryptocurrencies. This is surely a sign of the new times. Digital currency is here to stay so this is a big move toward accepting it as legitimate.
Along these lines, the Deputy Governor of the BoC, Timothy Lane, is said to be trying to bring crypto to the attention of policymakers. Why not jump on the bandwagon before crypto become more popular than fiat currencies?
Predictions assure that the free market could create crypto dominance, leaving the government to react instead of taking the initiative. Lane wants Canada needs to be proactive, not reactive.
The concept of a cashless society is not ludicrous at all. Will the centralized Canadian currency fill this void, or will it be a decentralized cryptocurrency. It is certainly an interesting and pending question.