The interest around Bitcoin is globally surging. So corporates are attempting to stay in sync and facilitate buying different things using it. This digital currency that is known to be the largest cryptocurrency in the world is slowly gaining adoption worldwide as a legal way to pay for goods or services. Also, if you are interested how Bitcoin enhances financial inclusion and access, read further.
According to a recent survey many small and medium businesses accepted Bitcoin and a lot of companies bought it for their own usage.
Companies such as Shopify, Wikipedia, and Microsoft accept payments in Bitcoin for the services they offer.
Apps in Android and Apple stores allow crypto users to make airline ticket payments by converting this digital currency to fiat money.
What can you buy with Bitcoin?
The number of companies accepting Bitcoin has seen steady growth. However rarely large transactions occur involving it. Some real estate that deals in cryptocurrency got reported. But you can buy a huge range of products using Bitcoin from e-commerce sites. Read along to become aware of the things you can buy with Bitcoin.
- Many cars dealers make use of Bitcoin as payments.
- The list includes a wide range and surrounds luxury car dealers selling Lamborghinis to those who offer highly utilitarian vehicles such as Subarus.
- Tesla is the biggest name and also the recent one that joined the list of companies enabling people to buy cars with Bitcoin.
- Elon Musk who is the founder of Tesla supports Bitcoin.
Ecommerce and technology products
- Companies mainly selling technology products accept this digital currency on their sites.
- Microsoft and Newegg are among them.
- Bitcoin is accepted by Microsoft only at their online store.
- But not their platform Xbox gaming.
- They do not let any ad promoting crypto or cryptocurrency-related products on their site.
- An e-commerce platform named Overstock that sells a huge range of merchandise first started accepting Bitcoin.
- Many small and big sites let people buy products using Bitcoin.
- Shopify, Rakuten, and Home Depot are also known to accept Bitcoin payments.
- In 2014, it was made clear by Amazon that they had no such plans of engaging with Bitcoin.
- Such reluctance puzzles many as platforms that are owned by them like Twitch let and also motivate Bitcoin use.
- In 2017 there was a run-up in the prices of Bitcoin. After this eBay considered allowing crypto use on their platform.
- They also purchased big banner ads at crypto conferences.
- But they have never confirmed if they will be approving crypto-based transactions.
- PayPal now allows their customers to purchase and sell along with holding cryptocurrencies in their accounts.
Costly watches and jewelry
- Various makers of luxury goods and retailers started to accept Bitcoin for payments.
- BitDials who is the luxury retailer operating online offers Philippe, Patek, and Rolex through Bitcoin payments.
- Franck Muller, the luxury watchmaker created a watch that contained a QR code from the genesis block of Bitcoin.
- Many jewelry stores also partnered with some payment processors for facilitating cryptocurrency-based store purchases.
- Most crypto media outlets accept this digital currency for not only subscriptions but also other services.
- In 2014, Chicago Sun-times was the first main publication that accepted Bitcoin on their platform.
- Time Inc., the magazine publisher also started to accept crypto for their digital subscriptions.
- Bloomberg News also accepts payments in Bitcoin.
- The industry of insurance has cautiously moved to embrace crypto.
- However, things are changing now.
- Providers of insurance have started to accept payment of premiums using Bitcoin for different products available in the portfolios.
- AXA the Swiss insurer declared that they began to accept Bitcoin payment for every insurance line in April 2021.
- They could not accept it for life insurance because of regulatory issues.
- An agency named Premier Shield Insurance selling auto and home insurance policies in the states of New Zealand allows premium payments in Bitcoin.
It is easier to make use of Bitcoin without cashing this digital asset. Are you looking to spend some of the additional money in the wallet? Then select some retailer who will be accepting it or put the tokens toward some gift cards. Regardless of if you are shopping online or locally, you will have options to spend your tokens.