Before cryptocurrency there was cash or credit card, the issue arose when the internet of things started to take off. People showed interest in international stores but had no way of paying for their products. Even if it was a national store and mutual currency, card transfers can take up to three working days to process due to bank delays, adding an additional three days onto the shipping time. Banks charge you when you spend your money as well as when you save it with them, all this on top of slow transfer speeds. There had to be a better way, and there was. Enters Bitcoin.
The First Purchase
In 2009 the Bitcoin white paper was released, allowing almost anyone access to the now revolutionary cryptocurrency. The point of Bitcoin was to act as an international currency that could be transferred in minutes, all information transparently stored on Blockchain. There are only 21 million Bitcoins available, unlike national currencies who print money when needed, this scarcity is the true defining term of currency. But Bitcoin was not always seen as the asset it is today. The first official Bitcoin purchase was made on May 22nd, 2010, for two Papa John pizzas. Laszlo Hanyecz, a programmer, posted this on a popular forum- BitcoinTalk:
“I’ll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day. I like having leftover pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I’m aiming for is getting food delivered in exchange for bitcoins”
“I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. just standard stuff no weird fish topping or anything like that. I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire.
If you’re interested please let me know and we can work out a deal.”
Laszlo and a user named Jercos relayed messages off the forum and confirmed the order, two Papa Johns were delivered to Laszlo’s house. Laslo later left an “open offer”for more Papa John pizzas in exchange for Bitcoins on the post comments, this may not stand true today as the worth of 10,000 Bitcoins is currently 54 million. The first cryptocurrency payment was for 10,000 Bitcoins and Laszlo had this to say, “I just think it would be interesting if I could say that I paid for a pizza in bitcoins.” This purchase will always mark an interesting moment in cryptocurrency history.
Since May 2010, many businesses have come to accept Bitcoin payments and offer users the benefits of speedy, international payments. The list of official Bitcoin merchants has continued to grow and gather attention. Big brands like Microsoft, Gyft and Virgin Galactic began to accept bitcoin payments. But it didn’t stop at Bitcoin merchants, more companies began to accept cryptocurrency and thus the revolution continued. A cryptocurrency, known as Verge, partnered with an Adult Content Site to bring its users a secure and fast payment option. All these transfers aren’t just good for the price but also the ecosystem, educating users on the benefits of cryptocurrency as well as enriching the markets.
If the brilliant minds behind Microsoft and the Virgin empire are taking the time to enlighten and involve us in the evolution of the economy, then maybe it’s time we listened. Other celebrities have even tried to speed up the adoption of cryptocurrency through their worded belief in Blockchain. Spice girl and soccer star, Mel B and Lionel Messi, are both involved in cryptocurrency projects such as the first blockchain secured smartphone. Ashton Kutcher went on international TV to announce Ripple to the world, as a donation to one of Ellen’s favorite charities. Ashton also owns a venture capital firm which has invested in companies like Uber and Airbnb, as well as investing in a crypto payment processor platform. Innovation is on the forefront, the least we can do is accept it. The benefits for both businesses and customers make cryptocurrency the clear solution, the issue is implementing it.
How You Can Accept Bitcoin Payments
You may think of accepting Bitcoin as a tricky task but that is very far from the truth, it can be as simple as linking your barcode on your website. This is not the ideal approach as you can not confirm the amount a user is sending prior or who the user is. This is where a crypto payment processor enters. A crypto payment processor platform allows you to track the users information as well as ensuring the full payment is made. A crypto payment processor would aid in instant payments from anywhere in the world, no need for a mutual fiat currency or waiting time. The processor also eliminates the possibility of loss due to market drops, as the platform would accept the cryptocurrency transfer and exchange it into your preferred fiat currency, ensuring you receive the full payment value. Crypto payment processors allow for businesses and customers to benefit with little effort or issues. If a business knows about cryptocurrency and isn’t taking the opportunity to join in on the innovation and get their customers involved, then we can only assume their business sense is in the past.
Finding the right processor can be difficult, but luckily you’re reading this article. You now know how easy it is to accept crypto, so the first step is setting up. With Azara, the future of crypto acceptance, you can incorporate a cryptocurrency payment option onto your website www.azara.ai without the worry of messing something up. Allow your users to pay with their crypto while you claim back in traditional currency. Let your customers know that you care about transparency, their shopping experience and enriching a revolutionary movement. The future started 10 years ago, don’t miss out on any more time or profits.
Get involved in the future of currency while still securing your business with Azara, by following this link: https://azara.ai/