Bitcoin Techs that are Changing the Cryptocurrency Market

If there is one thing that significantly impacts the bitcoin market, it would be technology. It introduces innovative ways to use bitcoins, including those listed. These techs prove that cryptocurrencies have a bright market.


Bitcoin ATM

Nowadays, it is not uncommon to find a bitcoin ATM in gas stations and convenience stores, among other places. In fact, there are more than 4,000 ATMs globally. Here, you will have the option to buy and sell bitcoins by simply entering your phone number and a verification code. There is no physical card that you have to use to facilitate transactions. In some, you can either just sell bitcoins in exchange for cash or buy from the ATM and transfer it to your wallet while others will allow you to do both.

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Mobile Payment Integration

Most of the new techs that involve bitcoin are geared towards making it gain wider acceptance. With this, although not yet in implementation, it is expected that bitcoin will soon be available in mobile payment wallets, specifically Samsung Pay. In one report from Forbes, it has been revealed that Samsung can integrate cryptocurrency in the Samsung S10. In Korea, there are more than 10 million users of Samsung Pay using digital payment platforms daily. This means that many of them may soon be using bitcoins when settling payments through Samsung Pay.


Credit Card Transactions  


It is also expected that credit cards will soon be joining the ranks of technologies that are making bitcoin a more popular mode of payment. A good example of this is the patent filed by Mastercard last year. To be specific, the technology is geared towards managing fractional reserves of blockchain currency. This could validate the legitimacy of bitcoins. Today, Mastercard only accepts currencies that are declared by the government as legal tender, but it will soon change once the patent gets its approval.


Energy-Efficient Mining

Intel, a global tech giant also stepped in and realized the potential of bitcoin. In 2018, they were awarded a patent that will allow them to create a system to improve the energy-efficiency of bitcoin mining. Basically, they developed a chip that will allow gadgets to mine bitcoin while requiring minimal energy. The processes can be embedded directly on the hardware, which will eliminate the need for computing or software.


E-Bike Mining

Although this technology is still in its relative infancy, in the UK, innovation has already been introduced to allow bitcoin mining through riding an e-bike. Now that is how you save the environment! Plus, you get fit at the same time while also being able to mine bitcoin!

With these technologies, there is no doubt that bitcoin has gone a long way. In the future, with the wider acceptance of cryptocurrencies, it is expected that more innovations will be introduced.

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