The 2018 FIFA World Cup is about to begin and it is going to be the talk of the world, there’s no question about that. However, under the limelight of the biggest sporting event in the planet lies Bitcoin, which is also about to affect the tournament in more ways than one, as the public gets ready to head to Russia.
As Russia focuses on its own internal payment channel Mir, the use of Visa and MasterCard in the country is slowly declining and is seeing less use when it comes to digital payments. As a result of US Sanctions enforced in 2014, they had already cut down the card services to Russian customers.
However, cryptocurrencies–Bitcoin in particular–have presented its benefits amidst the transaction trouble. The peer-to-peer payment system proves to be useful in times like this. With the power of decentralization, Bitcoin is able to offer faster payments with lower costs and anonymity.
With a significantly short list of payment options to choose from, football fans are looking at Bitcoin to aid their transactions in Russia. At last World Cup in Brazil, 3.4 million fans attended a game while over 50 million people visited the FIFA Fan Fest.
Hotels in host cities have even endorsed their liking to cryptocurrencies and declared that they will be accepting Bitcoin as well as Litecoin and Ethereum. This is surely is good news for those seeking alternative payment channels. More than that, bars and airlines are among the few services that will support cryptocurrency payments. Wirex, one of the World Cup’s sponsors, now allows users to top up their Visa debit cards with BTC, USD, EUR, or GBP.
Cryptocurrencies continue to generate interest thanks to its convenience. While it does present a learning curve that might too steep for some, the advantages can easily outweigh everything else. With the help of this innovative technology, football fans in Russia can pay for services without hassle.
The use of Bitcoin payments is something the cryptocurrency has been wrestling with since the transaction fees for processing transactions spiked in December after prices hit an all-time high. Nonetheless, now that the Bitcoin’s price has leveled down, transaction fees are back down with it. In all, this makes Bitcoin payments more attractive and advantageous for FIFA World Cup travelers.
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