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Although we’d love to see it happen in a single day, cryptocurrency mass adoption takes time. Two new examples show that it is indeed inching towards being generally accepted. The Ontario town of Innisfil has announced that they will be accepting cryptocurrencies, Bitcoin first, for property taxes obligations during a trial that will last a yr. Meanwhile, Sweden-based crypto surprise card provider Bitrefill now allows you to book AirBnB leases in America using five different cryptocurrencies.
Innisfil residents will be able to pay taxes with Bitcoin by way of a wallet called Coinberry Payout. The funds, sent in Bitcoin, will then be converted to the Canadian dollar and used in the town. Ethereum, Litecoin, Bitcoin Cash, and XRP may follow, according to nationwide news agency The Canadian Press. The trial period with this payment option will last per year, starting in April.
Innisfil, which is a home for thirty-six, 000 people, is definitely not the first jurisdiction to implement such a solution. The US state of Ohio accepts tax obligations in Bitcoin since Nov 2018 for companies and hopes to allow individuals to do so as well “eventually. ” Additional places that accept taxes in crypto include Zug and Chiasso, two Switzerland municipalities, and S. Africa, all with varying levels of success. However, it seems that paying taxes in crypto is not popular at this stage.
Meanwhile, surprise card provider Bitrefill introduced that they will permit their users to acquire of AirBnB surprise cards using Bitcoin, Ethereum, Litecoin, Dogecoin, and Dash. However, this service is currently only available for US residents, and redeemable with a US-based payment method. More constraints include the reality that these surprise credit cards can only be taken for reservations lasting lower than twenty-eight days, and can simply be purchased in denominations of USD 25, USD fifty, and USD 100. Following the purchase, users will get a voucher code from AirBnB, along with instructions for use.
Also, final week, the company introduced that their users can now purchase Netflix, a major streaming service, membership.
On the other aspect of the coin, popular online streaming service Twitch has recently halted support for Bitcoin and Bitcoin Cash subscriptions without an official explanation. The community is speculating that it could be due to lack of demand - however, there is presently no data available that could support this concept. Other reasons, as put forward by the community on Reddit, may include price volatility and the fact that many streamers were simply unaware that they could be offering and accepting donations in crypto.
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