With the constant inconveniences and restrictions being placed on online payments by Banks, it would seem that crypto is becoming more and more of an everyday solution for making online payments, and we are not just talking about Bitcoin or bitcoin price. There are a plethora of cryptocurrencies available at a retail level, and it appears that more and more online businesses are switching to crypto to receive payments online. The main users for such a solution are online casinos and forex brokers.
With this in mind, we asked the entrepreneur Andrew Anastasiou if he could shed some light on what is going on, and how cryptocurrencies are helping to facilitate online companies classed as high risk to receive payments.
If you didn’t know already, Andrew Anastasiou is an entrepreneur in the Fintech industry who is on his way to becoming a very well-known name in the industry. We also recently wrote an article on Andrew detailing what he does, and what makes him such a special entrepreneur.
Andrew Anastasiou explained to as the main reason that cryptocurrencies are becoming such a popular solution when it comes to making online payments to forex brokers or online casinos, is not just because it is easy, and that has more to do with trust. Andrew explained to us that as cryptocurrencies are becoming more mainstream, and there is wider adoption of the product it is becoming more widely provided by payment service providers.
As well as the wider adoption, Andrew Anastasiou disclosed to us that ultimately it is becoming more and more difficult for non-EU forex brokerages and online casinos to be able to receive deposits, and therefore it is almost impossible to operate without expanding the payment facilities into the crypto industry.