Bitcoin Cash (BCH) may be seeing a new wave of adoption in 2019 with other cryptocurrencies. Roger Ver the cryptocurrency founder stated in a tweet today that a major store that specializes in fancy watches will soon start accepting BCH for payment.
“One of the biggest and fanciest watch shops in all of Japan wants to start accepting Bitcoin Cash for their watches. Send the owner a tip to show your support! Qpxpvte6zxefw2dxsmrxlctkrz9vylz7autulfar8j”
BCH has seen significant acceptance
Although Roger Ver and his BCH has been fought by Bitcoin supporters, the cryptocurrency has seen quite a lot of acceptance as payment for goods and services. Currently, there are over 900 retailers worldwide who accept BCH as payment. That is a significant number considering that BCH isn’t very popular.
This adoption is for no other reason than the fact that BCH enables microtransactions with low fees which Bitcoin cannot claim right now. Holders of the asset can, therefore, use it to pay for not so expensive items without worrying about the cost of transaction as it is negligible.
Japan, a good choice
Ver must have thought thing through before partnering with the Japanse to use his token. Japan is so far one of the fastest growing economies in terms of cryptocurrency and is potentially the first major cryptocurrency market in the world. This makes the future of BCH a bright one as long as the Japanese are involved.
Other cryptocurrencies are not left behind in Japan. Going back a little, Ripple payment services have been adopted significantly in Japan by different sectors. One of the companies is Consortium Bank which adopted the Ripple payment App. it launched the app in October 2018. This is just one of the several adopters in the country.
Bitcoin is also not left behind as major electronics companies accept Bitcoin and some companies have offered to pay their employees in Bitcoin. This is a level of adoption that is uncommon although Japan is not the most advanced of countries in terms of blockchain technology. There is, therefore, no better place to promote adoption of cryptocurrencies than Japan. At last hopefully, BCH price may see a boost after the hard fork in November last year.
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A cryptocurrency enthusiast, author, and investor with high motivation in cryptocurrency/blockchain research and writing. He loves birdwatching and traveling. Follow him on Twitter at @Ponvangbu