Bitcoin’s popularity has skyrocketed in recent years, along with its price. This highly speculative cryptocurrency has come to stir up many investment portfolios.
While most Bitcoin users see it as an investment to later convert to conventional fiat currency, some stores have started to accept it as payment. Seeing how this type of money is becoming more widely accepted, you should know who accepts Bitcoin.
And maybe even more important, what can you buy with Bitcoin?
What Is Bitcoin?
Before we dive into all the things you can buy with Bitcoin, let’s first look at what Bitcoin is.
Bitcoin is the first form of cryptocurrency. This digital type of money is stored on the blockchain, and since it lives on a decentralized network, no government can control it. And since it separates state and money, some see it as the successor of fiat currency.
Rather than storing data with your bank, every Bitcoin transaction is recorded on a public ledger. While you can see the purchases made with the currency, you don’t know who made it or what was bought. That’s because that data is hidden through cryptography.
Even though Bitcoin has become more accepted alongside fiat money, criminals also use it for money laundering and the online black market. Hackers can also install cryptojacking malware on computers to mine Bitcoin without the user knowing.
However, Bitcoin has still seen considerable successes in recent years. More stores have started to accept cryptocurrencies. On top of that, the use of digital wallets or crypto-savings account cards has made for simpler spending.
So, what can you buy with cryptocurrency?
What Can You Buy With Bitcoin?
Since Bitcoin is a currency, you can use it to buy things. However, it’s important to note that Bitcoin is not always accepted in its raw form. In many cases, you will have to convert it to fiat currency or use a crypto-card.
But there are some places that accept Bitcoin.
What online stores accept Bitcoin? Here are some examples.
Microsoft Xbox Store
Microsoft supports the use of Bitcoin. You can use it to add money to your Microsoft wallet and buy things in the online store.
There are quite a few charities that accept Bitcoin as a form of payment, including:
- Doctors Without Borders
- Save The Children
- The Water Foundation
Baltic Airlines is the first airline to accept Bitcoin! Keep in mind that this is quite exceptional, and not many other airlines do the same. But there are ways to use your cryptocurrency for your next trip abroad. One way to find tickets is through these websites:
Have you always wanted to own a website? Lucky for you, you can buy a domain with BTC. If you wish to start from scratch or buy an already established domain, purchasing them with Bitcoin is easy. Some reputable names that accept Bitcoin as payment include:
The easiest way to use your Bitcoin as payment is to convert them into fiat money. You can do this on crypto exchanges. Alternatively, you can use Bitcoin to pay for other types of cryptocurrency and diversify your portfolio.
When choosing your exchange, consider payment and withdrawal fees. Here are some that we recommend:
While many big stores don’t accept cryptocurrencies, there is a way around it. By buying gift cards on websites that accept bitcoin, you can use this credit to shop at Amazon or eBay. You can do this on the following websites:
Now you know that you can spend your digital currency online. But it doesn’t stop there! What can I buy with Bitcoin offline? Here are some examples.
Cryptocurrencies are volatile by nature, so you may want to exchange them for a more fixed asset like real estate. However, only a few will accept direct payments in Bitcoin, including:
Did you know that you can buy a car with Bitcoin? Most regular car dealers won’t accept cryptocurrencies, but there are a few that do. They usually tend to offer luxury vehicles or rare models. Unfortunately, Tesla stopped taking Bitcoin as a payment in May 2021.
Want to take things even further? You can rent or buy a yacht with Bitcoin. There are several dealers available for you to choose from:
Converting Bitcoin into fiat currency or utilizing a crypto-card is generally advised when buying drinks. However, some bars accept it directly. Here are a few well-known ones:
- Old Man Hustle in New York
- The Jane in Copenhagen, Denmark
- The October Bar in Tel Aviv, Israel
- The Old Fitzroy in Sidney, Australia
While a lapdance may not be the first thing on your list of things to buy with bitcoin, it is possible! Many establishments in California, Miami, and Las Vegas accept the currency.
The value of gold and silver has experienced steady growth over the last few decades. Since Bitcoin is quite volatile, you may want to diversify your investment portfolio by buying some precious metals. Luckily, there are places where you can use Bitcoin to buy gold and silver.
Have you ever dreamed of owning an original Banksy? You can use Bitcoin to turn that into a reality. International auction house Sotheby recently announced that it now happily accepts Bitcoin.
How to Buy Things With Bitcoin?
Now that you know what you can buy with Bitcoin, let’s look at how to do it.
A crypto wallet is essentially a digital account in which you store your Bitcoin. There are many different wallets available, each of which has its own fees, rates, and features.
Platforms such as Coinbase, Trezor, and Binance offer great incentives for utilizing their wallets. They provide mobile apps and wallets that make it easy for you to interact with your funds safely.
You can also use these platforms to convert your fiat money into digital currency or vice versa.
But there are still many stores and retailers that don’t accept Bitcoin in its raw form. But you can use a crypto card instead. Bitcoin-enabled cards work much like regular debit accounts or credit cards, except that they’re tied to your Bitcoin wallet.
These cards will enable you to buy things in the offline or online world, much like you would with fiat currency. The only exception is that you’re paying with Bitcoin instead of cash. You don’t directly pay with cryptocurrencies, as they are automatically converted into fiat money when using the card.
Coinbase, Bitpay, and Wirex are all known to offer cards with different features, costs, pros, and cons. Be sure to review any charges and benefits related to the card before you sign up.
Now you don’t have to wonder who accepts Bitcoin anymore. Using the correct payment methods and ways to store your cryptocurrencies is key to unlocking their full spending potential.
Thankfully, more and more businesses are opening themselves up to Bitcoin as a modern payment option. The more places there are to spend the currency legitimately, the more trustworthy, stable, and functional it becomes.
Be sure to look for the ‘Bitcoin accepted here’ sign, or bring your crypto-card to enjoy the simplicity of integration.
You can use Bitcoin to buy a lot of different things, both online and offline. Examples include airline tickets, donations for charities, VPNs, gift cards, real estate, and more. Some stores accept direct wallet-to-wallet transfers, while others will accept card payments from crypto-cards. Remember that you can always convert your Bitcoin to fiat currency.
Many online vendors accept Bitcoin as payment, including the Microsoft store, many VPN and web services, and even Baltic Airlines! But since Bitcoin is becoming more widely accepted, it’s possible to pay with cryptocurrencies in some retail stores and local businesses. Alternatively, you can use a crypto-card that works like a regular debit/credit card but automatically converts your Bitcoin to fiat money when you make a payment.
Yes, you can convert Bitcoin to cash. The best way to do this is by using a crypto exchange to convert your Bitcoin to fiat currency. Alternatively, you can use a crypto-card to withdraw money from an ATM directly.
No, Amazon does not accept Bitcoin. However, you can use Bitcoin to buy Amazon gift cards on services like Gyft or Egifter. You can also exchange your Bitcoin for fiat currency. So, what can you buy with Bitcoin? Find out in the article above.