What Can You Buy with Bitcoin
Now that you have successfully bought or exchanged bitcoin and have potentially gained with price movements, you should try to use your newly acquired asset to experience its full potential. Bitcoin as a medium of exchange is not only exchanging for other coins on online exchanges but also for buying goods online and offline. It is an efficient medium, and it is better at transferring value than any other form of money.
What you buy with bitcoin depends on your personal preferences and needs, but you should buy yourself a hardware wallet first. Most known producers accept Bitcoin, and Trezor is one of them. You can also choose from 15,182 offline options, according to coinmap.org, or other online stores that accept Bitcoin as a payment method.
A great thing about Bitcoin is you can buy anything with it if the other person has a wallet to receive it.
Apart from its core proposition of sending Bitcoin to anyone with Bitcoin wallet with minimal fees and no intermediaries, we will group what can you buy with Bitcoin in two blocks. We will look at how to spot outlets at which to spend your bitcoins (or better said, satoshis) offline, and where you can use them online. We will suggest some of best-known merchants, but the ecosystem is growing and changing, so stating all of them would be too long of a read.
Using bitcoin offline is more limited than online due to periods of higher transaction fees and volatile price movements, which causes many merchants to discontinue accepting Bitcoin as a payment method. Buying bitcoin is still prevalent choice. However, when Bitcoin was first gaining popularity, multiple merchants implemented bitcoin as an alternative payment method to fiat currencies for goods and services because transactions fees were lower, it had broader market access, and it offered final settlement without chargebacks. Bitcoin transactions are irreversible.
Merchants that accept Bitcoin usually have a sticker on their door that says “bitcoin accepted here,” so it is easy to spot them. For a Bitcoin payment experience, you can buy coffee in Prague or beer in Sydney’s Old Fitzroy. If you are looking for a space to work, the coworking space Paralelni Polis in Prague will let you pay only with Bitcoin.
As a result of the highly volatile nature of bitcoin, the cryptocurrency is currently considered as less of a payment method and more of an investment option or option for distant payments. If you are a trader, you can buy other digital assets, including more exotic alternative coins (alts). Bitcoin, the first decentralised currency, has proven to be an efficient exchange pair and, in some cases, the only option for exchanging to another cryptocurrency. Which trading pairs are available check out on Tokens.net platform.
What can you buy with bitcoin online is far-reaching, ranging from food, houses, and cars to carpets and shoes. Surely you can buy pizza. Pizza is bitcoin famous for being the first commercial transaction with bitcoin. It was perhaps one of the most expensive pizza—two pizzas were bought for 10,000 bitcoin in 2010. If you wish to order pizza and pay with Bitcoin, find a pizzeria in your hometown.
If you get tired of trading cryptocurrencies, you can purchase some entertainment. Zynga uses Bitcoin for in-app payments in some of the games, and Microsoft accepts bitcoin for purchasing games, movies, and apps in the Windows and Xbox stores. If you are more of a TV viewer, then you can get satellite television or internet service from Dish Network and pay with bitcoin.
If you are concerned about privacy, what you should buy with bitcoin is a VPN service. To ensure your universal right to privacy, use pseudo-anonymous Bitcoin as a payment method at Mullvad or ExpressVPN.
Online merchants such as Shopify have added the alternative method of payment of cryptocurrency, and BitPlaza is a mobile shopping app made for shopping with bitcoin. In 2014, Overstock was the first large online retailer to accept Bitcoin for designer brands and home goods.
It’s not just big retailers that accept bitcoin but small ones too. E-commerce platform Etsy accepts bitcoin for homemade goods. If you are looking for a unique gift, why not buy a handmade present with bitcoin? The most convenient way to do so is by purchasing a gift card from Bitrefill, Gyft or eGifter for Amazon or other traditional retailers.
Real estate is still searching for its use case with blockchain, but you can already use Bitcoin as a mean of payment for properties. Bitcoin Real Estate lists and sells houses, restaurants, and other premises for bitcoin. If you prefer to wander, you can spend your bitcoins abroad—use bitcoin to pay for an airline ticket or accommodation through Expedia, CheapAir, or BTC Trip. For space travel, Virgin Galactic offers bitcoin as a payment method for their future trips. If you prefer to drive, you can spend your bitcoins for a car. Some car sellers accept bitcoin payments through BitPay for high-end cars, such as Bentley, Bugatti, and Rolls Royce. With the rising price of bitcoin, even luxury stores such as Reeds Jewellers do not want to miss out on accepting bitcoin for fine jewellery, watches, and loose diamonds. As luck would have it, you can also donate some satoshis to charity.
Whether you are an online shopper, store drifter, or part of a holders club, spending or holding your bitcoin is up to you, but we encourage you to buy something with bitcoin. As the saying goes, money can buy most things but happiness, but with bitcoin’s increasing value, it will get you closer to it.
Bitcoin is not yet widely adopted as a payment method, and it might not be the most appropriate currency for paying smaller amounts, but it is still pioneering worldwide decentralised payment systems with its Lightning Network and other developments.