Florida is one of the US states embracing crypto innovation across various industries. The Sunshine State is one of the few states with a blockchain association, the Florida Blockchain Business Association (FBBA). The FBBA has played a key role in helping Florida consumers access financial services centered around cryptocurrencies. However, the finance sector isn't the only sector experiencing advancements with crypto innovations; the tourism, real estate, retail, and e-commerce sectors also feature businesses adopting blockchain payment solutions.

Crypto tourism is fast becoming a popular option among digital nomads and tourists. Popular blockchain wallet provider Coinsbank organized several Blockchain Cruises before the pandemic, making it one of the early pioneers of crypto tourism. But beyond blockchain cruises, Florida residents can access tourism and hospitality services from businesses with crypto support.

One of the top choices consumers can explore is Travala, a travel booking agency in Florida that allows consumers to pay with crypto and get extra discounts. Customers can also book local hotels and more worldwide using cryptocurrencies like Bitcoin. Destinia and AirBaltic are also among the top companies that allow Florida residents to book a flight to any part of the world using cryptocurrency. UsingTradingView, travelers and tourists can catch up on current cryptocurrency prices and the best option to select for payment.

Real estate may have been one of the most challenging sectors to build trust in virtual currency payments, but with advancements in blockchain technology, consumers can now buy or sell properties using cryptocurrencies as payment. For real estate companies in Florida exploring blockchain technology, the options range between operating on a Web3 website and using NFTs[1] as representative elements for physical properties or building a Web2 website designed for e-commerce use.

Florida residents can access real estate services offering crypto payments on websites like Crypto Real Estate and Home Max Realty International. Companies like 3Blocks allow consumers to access fractional real estate ownership through NFTs. A fractional real estate owner could own a part or fraction of a property, allowing individuals to build real estate portfolios within their income level.

Another real estate agency, Propy, one of the leading Web3 companies in the industry, made news last year after American entrepreneur Grant Cardone listed a 42 million dollar beach house on the platform. Cryptocurrency will continue to change how realtors run property businesses, and Florida citizens are among the first to participate.

Businesses quickly adapt to services and technologies that aid customer satisfaction and increase revenue generation. To meet the needs of consumers looking for alternatives to pay in cryptocurrency, some Florida businesses adopt services that allow for crypto payment integration into their websites. Some businesses use Florida-based service providers like Servicetree and Moonpay to create a cryptocurrency payment gateway.

Popular retail and e-commerce giants like Shopify, Home Depot, and Newegg accept cryptocurrency payments. Luxury brands have also hopped on the train, with Gucci offering crypto payment support for some exclusive collections. Online service providers like VPN companies, with ExpressVPN as a prime example, allow users to pay using BitPay and other crypto gateway solutions.

Companies providing financial services have been the fastest to adopt crypto solutions. In Florida, PayPal and Mastercard are among the payment platforms that now offer stablecoin options like USD Tether (USDT), USD Circle (USDC), and popular cryptocurrencies like Bitcoin. Consumers looking to invest in cryptocurrencies can access crypto financial instruments like Bitcoin ETFs, other crypto ETFs, and crypto coins like Ethereum and Ripple on brokers like OANDA. Web3 companies like MetaMask allow users to access the crypto version of saving and investing on decentralized marketplaces. In decentralized marketplaces, users can stake their cryptocurrencies to earn a percentage of the APR yield after a certain duration.

Cryptocurrency has already established its position in the financial markets and will remain a significant part of online business. Consumers new to cryptocurrency can start embracing the innovation by understanding blockchain payments and their benefits. For example, cryptocurrencies provide a broader range of payment choices, faster transactions, lower fees, and sometimes more incentives in terms of discounts and bonuses.

However, unlike fiat currencies, which are typically stable, cryptocurrencies are subject to price volatility, meaning their value can change rapidly. Florida residents exploring options for cryptocurrency payments online should be sure to use trusted partners to avoid scams. Consumers should note that Florida law treats cryptocurrencies as assets, not currency. This means that spending or selling cryptocurrency can trigger taxable gains or losses, and consumers need to track their transactions for tax purposes diligently.

With the legislative arm of the Florida government easing citizens' and residents' access to crypto-based solutions, businesses will continue to adopt blockchain payments in their daily operations. While some businesses are temporarily and seasonally adopting Bitcoin and stablecoin, the next few years may see the full integration of cryptocurrency as a typical payment option.

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