Bitcoin’s global adoption has cleared the way for many firms and merchants to accept this crypto that, throughout time, has proved more than a simple currency.
Virtual currencies are going mainstream, and no one can prevent this from happening. And, after all, who wishes so? Digital currencies such as Bitcoin and Ethereum have taken the financial sector by storm, facilitating payments and transactions and making people more aware of their funds and investments. The fact that a range of vendors, from the Lamborghini brand of luxury cars to simple groceries, has embraced cryptocurrency and, in particular, Bitcoin as a form of payment for their goods proves that virtual currencies are here to stay.
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Finally, Satoshi Nakamoto’s creation has come to fulfill its initial purpose – to be a medium of exchange for a bunch of goods, from real estate to a cup of coffee. When a Florida programmer purchased some Papa John’s pizza with Bitcoin in May 2010, no one thought this would become mainstream. At that time, Bitcoin was worth only a couple of cents – 10,000 Bitcoins for two pizzas is enormous if we’re to allude to today’s crypto price.
Since then, a range of items you can legitimately buy with Bitcoin has been added to a list that grows by the day.
Technology and e-commerce products
Some of the most important companies that accept Bitcoin are Microsoft, AT&T, and Newegg. Nonetheless, the tech giant Microsoft only receives this form of currency at its only store, not on its famous gaming platform Xbox. It also doesn’t authorize advertisements promoting crypto-related products or virtual currency on its web page.
As for e-commerce stores, there’s an impressive range of online stores that embrace Bitcoin. Some of the most notable include Overstock, among the first to introduce this form of currency on its site. The founder Patrick Byrne declared his adoption of Bitcoin in 2014, being an early proponent. Several companies have followed in his footsteps, the most prominent examples being the Japanese e-commerce big name Rakuten and Shopify.
Surprisingly, eBay and Amazon have resisted the hype. For example, the latter clearly announced in 2014 that it didn’t intend to adopt Bitcoin. This is confusing since platforms possessed by the corporation promote and allow the use of this digital currency. On the other hand, the former pondered upon the introduction of Bitcoin after the crypto’s run-up in 2017. In 2019, things were also a bit complicated regarding the approval of virtual currency on the eBay platform if we consider the San Jose, California-based company announcement. Nonetheless, 2021 came with a change in perspective, as eBay mentioned to Reuters that it’s considering all forms of payment; needless to say, it alluded to virtual currency, too. Meanwhile, large payment platforms such as Visa and PayPal allow consumers to purchase, sell, and store digital currency in their accounts.
Branded jewelry and watches
You can buy unique gemstones using your crypto and finally get that much-desired luxury watch or diamond ring. BitDials is probably the most popular retailer accepting Bitcoin as payment for high-end watches like Patek Philippe and Rolex. Crypto and luxury goods have long been in a strong relationship, including when the crypto market collapsed in May this year. Several investors of both thus began to sell their luxury watches to compensate for the cryptocurrency value decline.
You can also shop diamond jewelry and luxury watches from trusted retailers such as Stephen Silver, Baunat, Idoneus, Jomashop, and Wrist Aficionado, so you have options if you’re looking to spend your Bitcoin.
Real estate
Using Bitcoin to invest in real estate or purchase a house sounded crazy ten years ago. But today, it’s one of the most preferred and advisable manners to spend your Bitcoin. As consumer demand to pay in cryptocurrency is surging, more and more real estate companies seriously consider accepting this form of currency and Bitcoin in particular. Some of the most important names in this regard include Pacaso and Condos. If your Bitcoin investment has come to fruition, we highly encourage you to spend it wisely. Real estate, vehicles, and insurance are among the most recommended, but generally, ensure you buy something that proves its value over time. And if you’re new to crypto, be sure you first research the market and where to buy Bitcoin, as well as the coin’s trading volume, liquidity level, price history, and the best way to buy Bitcoin currency,
Insurance
The insurance industry is undoubtedly expanding, and so is the range of payment options to get it. For the most part, insurance providers are taking into account accepting cryptocurrency as a mode of payment. One notable example is the Swiss insurer AXA – it revealed last year that it had started receiving Bitcoin payments for a variety of services except life insurance. Regulatory issues still pose some problems as regards this type of insurance, and it’s still an off-limits topic for many insurers.
Car dealerships
Some of the most notable car dealers that allow for Bitcoin payments are Lamborghini, Ferrari, Mercedes, BMW, and Maserati. The list spans various vehicles, from luxurious Lamborghini to utilitarian cars like Subarus. There’s also a term among the crypto community, “Wen Lambo”, designating the enthusiasm for making a Lamborghini purchase using virtual currency. In early 2021, Tesla founder Elon Musk announced his support for cryptocurrency, telling users on Twitter that they could buy an electric Tesla car with Bitcoin. But he changed his mind allegedly because of environmental concerns, directing his attention on Shiba Inu, a meme-inspired digital coin that seems to have surged dramatically in popularity. Nevertheless, this doesn’t affect the popularity of the crypto king among car dealers, as the number of manufacturers accepting Bitcoin is growing day by day. You can also use your BTC to buy that timeless motorcycle you’ve long craved or a classic collector car – the choice is yours.
The list also comprises:
- Airline tickets
- Furniture
- Gift cards
- Musical instruments
- Electronics
- VPNs and servers
- Clothes and fashion accessories
- Smartphones, computers, and laptops
- Literature
- Video games and in-game purchases