Cryptocurrency is no different from fiat money — this asset can be used not only for savings or speculation but also for settlements. Today, we will tell you what you can buy with bitcoin, where bitcoin is accepted, and which stores are just about to switch to digital currency. Let’s get started!
Where Is Bitcoin (BTC) Accepted?
First, let’s figure out what you can buy with bitcoins. In general, the attitude towards digital gold is gradually changing from complete distrust to restrained optimism. Bitcoins are fully or partially accepted as a means of payment in such countries as Japan, Gibraltar, Malta, Ukraine, Switzerland, the Netherlands, Lithuania, Estonia, Great Britain, Germany, Bermuda, Slovenia, Singapore, Georgia, Belarus, Hong Kong, Australia.
Digital assets are most widely used in countries with high inflation. Moreover, the national El Pietro token has already been launched in Venezuela. The fact is that the country’s national currency, the bolivar, is constantly falling against the backdrop of galloping inflation. However, the Venezuelans use a completely different digital asset for settlements — Dash. El Salvador became the second state to choose cryptocurrency as a national one. Next up is Panama.
There are quite a few countries that are skeptical about bitcoin. For example, in China, the mining of this coin, as well as payments in it, are prohibited. Most likely, this is how the Chinese authorities provide a competitive advantage to the digital yuan.
What Can Be Paid With Bitcoins?
It all depends on the providers. The process is much easier for online stores; they just need to send a QR code or tell payers the wallet address. After the transfer is done, the transaction confirmation follows, indicating that the transaction is completed successfully. The main issue of settlements between individuals is a slow transaction speed and a popular fraudulent scheme, the so-called double-spending. This is when a scammer tries to sell the same product twice to different buyers.
Now it’s time to figure out where you can pay with bitcoins. For example, Microsoft has been accepting bitcoin for use in its online Xbox store since 2014. Bill Gates repeated many times that he recognizes cryptocurrency as a full-fledged means of payment and said:
Bitcoin is better than currency.
Electronic Commerce
First of all, let’s highlight Amazon, where you can buy almost any product for bitcoins. Shopify helps users create online services and accepts bitcoin for payment. You can pay your bill immediately via four aggregators: Coinbase, GoCoin, BitPay, and CoinPayment.
Home Goods
The largest megastore, Overstock, accepts several types of cryptocurrencies at once, and the bitcoin icon is built into the payment interface. When placing an order, it is enough to select a bitcoin by clicking on the button, and the purchase is successfully made. Bitcoin is also welcome at Home Depot, the largest chain of appliance stores in the United States.
This retail chain accepts bitcoin payments through the Flexa cash registers installed in their stores. This makes it very easy to checkout using bitcoin, as Gemini’s partnership with Flexa has eliminated all the hassles traditionally associated with bitcoin payments.
Travel Services
Travelers can buy a plane or train ticket without paying in euros or dollars. Bitcoin is readily accepted for payment by several popular sites at once: Bitcoin.Travel, AirBaltic, CheapAir, Expedia, Surf Air. You can book flights on Expedia with Bitcoin, as Expedia has partnered with Coinbase.
By the way, the famous Virgin Galactic of Richard Branson is also ready to accept bitcoins to pay for super-expensive space travel.
Food
Much loved by hipsters, the coffee chain Starbucks was about to start accepting bitcoin at all of its retail outlets back in 2019. But something didn’t work out, and the company noted that bitcoins would not be directly accepted for payment, and the Future Bakkt specialized exchange would become the payment provider in 2020. In 2021, the Starbucks-Bakkt payment link launched, and cryptocurrency transactions became a reality for network customers.
In turn, in Venezuela, Burger King cooperates with the Cryptobuyer service and accepts Bitcoin, Dash, Litecoin, Ethereum, and Tether. Also, KFC in Canada offers users to buy a bucket of wings for bitcoins. All payments are processed via BitPay.
Internet Resources & Video Services
The Internet entertainment industry has no issues with payments in cryptocurrencies. Twitch is one of the largest gaming streaming platforms in the world. Popular gamers can build an entire career simply by streaming the games they love with people who are attracted to their skills, personality, or both. Using NOWpayments, here you can pay with bitcoins and litecoins.
In turn, the Red Cross accepts donations in bitcoins via Bitpay. Badoo speed dating service, 4Chan anonymous imageboard, and WordPress website builder also accept cryptocurrencies for payment. Almost all bookmakers work with cryptocurrencies. More than 80% of payments in cryptocurrencies are accepted in bitcoins, ethers, and litecoins. In addition, Dash and Dogecoin are becoming more and more popular.
Sports Industry
Mark Cuban, a basketball team’s celebrity investor and owner, is also a big fan of bitcoin. Anyone who attends a stadium game can buy anything using bitcoin and tickets for future games on their website.
The Mavericks are not the only sports team supporting cryptocurrency. Miami Dolphins also decided to let their fans buy tickets and food using litecoin. The multiple champion and winner of the Portuguese Cup ‘Benfica’ also followed the example of American clubs.
Pros & Cons of Paying With Crypto
Among the advantages of paying with cryptocurrencies is the transparency of transactions. Both sellers and buyers always have the opportunity to track the status of a transaction and its details. A good plus is the anonymity and security of transactions — a third party will not see the transaction participants. Opening a cryptocurrency account takes a matter of minutes. In this case, buyers do not pay an inflated commission to the intermediary bank.
Among the disadvantages is the constant volatility of cryptocurrencies, which is difficult to predict. In addition, the identity of buyers can be established using camera recordings. It is also worth mentioning the irrevocable nature of payments. If a mistake in the address was made during the transaction, it is impossible to return this money back.
What Is the Best Place to Buy Bitcoin (BTC)?
If you’re wondering where to buy bitcoin, you should definitely think about doing it at Switchere. On our platform, you have an opportunity to buy BTC in the fastest and most convenient ways using any available payment method.
Switchere is one of the most reliable online exchanges for buying cryptocurrencies. The company is a licensed provider of financial services, with guaranteed legal compliance and a secure infrastructure system for fast crypto exchange services at fair prices.
Switchere is characterized by the fastest order processing and instant delivery — in fact, you get your ordered amount of crypto within minutes after making a payment. Moreover, we offer some surprising bonuses! Users of our platform enjoy a 0% service fee for the first order.
Conclusion
Bitcoins are accepted on all major online platforms, as well as in a number of offline places. Cryptocurrency can be used to pay for food, travel, and even a ticket to a football match.
Have you ever paid with bitcoin? Feel free to share your experience in the comments below!
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