Yes, the bear market has affected the whole ecosystem. But there are also good things to talk about rather than only about price. Bitcoin (BTC) adoption continues to expand even during bear markets such as the one that we are currently experiencing. Users can now purchase their food using Bitcoin in more than 1,500 restaurants in Denmark.
Denmark Has 1,500 Bitcoin-Friendly Restaurant
Denmark seems to be a very Bitcoin-friendly country. The small Northern European country seems to be calling the attention of Bitcoin enthusiasts. It is possible to pay in more than 1,500 restaurants using Bitcoin, the largest virtual currency in the market.
As the virtual currency expanded during the last years, several companies and merchants decided to accept it as a means of payment. However, some companies did not have good results with it (high price volatility, low transactions times, etc) and decided to abandon it. However, there are some countries in which the community continues to grow.
Although there are not many places around the world accepting Bitcoin payments, it is currently possible to pay with it in several restaurants in Denmark.
The Hungry.dk company has been accepting Bitcoin payments since 2014. About it, a representative at the company commented:
“We have accepted Bitcoins as a payment method for quite some time. We decided to remove the feature temporarily last year though because the average transaction time took to long, and the experience wasn’t the best. The problems have since been solved, and we have added the option again… Hungry.dk handle the payment, so you will always be able to use Bitcoins with all the restaurants currently found on Hungry.dk.”
As mentioned before, several companies saw their services affected by the increased usage in the Bitcoin network during the bull run experienced in 2017. A single Bitcoin transaction could take hours to be processed and cost more than $10 dollars in transaction fees.
This is why Bitcoin developers are currently working in order to create the so-called Lightning Network (LN). With it, Bitcoin will be able to handle millions of transactions per day without being worried about transaction times or fees.
Although this was not a good year for Bitcoin, this shows that there is still interest in virtual currencies around the world.
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