You’re going to want to use your bitcoin at some time. What can you buy with bitcoin? Where can you swap it for products and services, though?
Many people imagine a black market full of shady transactions, off-the-record sales, and illicit items when we speak about purchasing stuff with bitcoin (BTC), or millionaires looking for luxury boats and private aircraft. In truth, there is a huge list of things you can purchase with bitcoin.
The list of items and services you can buy with bitcoin is increasing by the day, with more than one-third of small companies in the United States now accepting cryptocurrency as a means of payment.
Bitcoin’s features as a payment mechanism – particularly the simplicity of cross-border transactions, anonymity, and nonreversible transactions – have been embraced by companies across many sectors, from huge corporations like Microsoft and AT&T to tiny enterprises like your local farmer’s market stand.
A few typical goods that may be bought using bitcoin are listed below.
Bitcoin may be used to Purchase a Variety of Items
Cars
While Tesla made news in May 2021 when business founder Elon Musk stated the firm will no longer accept bitcoin as a form of payment, the secondhand automobile market has long been bitcoin friendly.
BitCars is an example of an online dealership that offers a variety of premium automobiles, including Teslas, with listings priced in Bitcoin. If you ever feel the urge for speed, you can buy a Lamborghini Huracan for 10 BTC on BitCars’ website. Are you planning a road trip? You can get a Vario Perfect 1000 motorhome for 31.365360 BTC.
AutoCoinCars, for example, resembles a typical used vehicle shop with a wide range of affordable options for consumers looking for something less unique.
Investing in Real Estate
Since the first bitcoin property transaction in 2017, buying real estate using bitcoin and other cryptocurrencies has gone from a curiosity to a routine occurrence. A Miami condominium sold for $22.5 million in crypto in June, making it the highest transaction ever made using the digital currency. Several worldwide real estate companies now accept bitcoin as payment for their listings.
WeWork, a prominent office-sharing and real estate business in the United States, now accepts bitcoin as a payment option via BitPay. Exchange of cryptocurrencies The first client to take advantage of the deal was Coinbase.
Sports Competitions
While buying game-day tickets using bitcoin is not yet widespread in all stadiums throughout the United States, several teams have begun to pave the road for its acceptance. The Dallas Mavericks of the NBA, who are owned by blockchain investor and entrepreneur Mark Cuban, have teamed up with BitPay to take bitcoin and other cryptocurrencies. They also give you a discount on products if you buy with bitcoin.
The Oakland Athletics of Major League Baseball stated before the start of the current season that they will be selling season tickets for luxury suites for 1 BTC, or its currency equivalent. The A’s, like the Mavericks, have made tickets and goods available for purchase using bitcoin and other cryptocurrencies.
More than simply athletic events are benefiting from the technology. Tickets to concerts and other events hosted in arenas may also be purchased using Bitcoin.
Collectibles and Art
On the heels of the non-fungible token explosion spilling into the realm of fine art, high-profile auction houses have begun to accept cryptocurrencies as a payment mechanism. A Banksy painting worth between $2.82 million and $4.1 million was recently posted for purchase in bitcoin and ether by the renowned Phillips auction house in Hong Kong. The number of galleries in the United States that take bitcoin as a form of payment is also growing, but it is presently centered on the East and West coasts.
Maecenas is a bitcoin-based platform that enables you to invest in fractional shares of iconic artwork. It sold a 31.5 percent stake of the Andy Warhol artwork 14 Small Electric Chairs for $1.7 million at auction in 2019.
Travel
Bitcoin may be used to book flights and hotels all around the globe when the travel sector reopens.
Booking.com and Expedia have teamed with CheapAir and Travela to enable consumers to make purchases using bitcoin and other cryptocurrencies.
A week at the Beverly Hills Hotel in Los Angeles costs 0.33 BTC, or $14,188.
Some hotels even enable clients to book stays using bitcoin directly via BitPay, while most still need the use of a third party to pay in bitcoin entirely, which may result in extra fees.
Private Planes
Companies like BitLux and flyExclusive, who just began taking bitcoin for private jet chartering, are now allowing crypto-savvy tourists with bigger budgets to fly private.
If you want to buy an aircraft outright using bitcoin, Aviatrade allows you to do so, with a range of planes listed on the site that are worth in the tens of millions of dollars.
Web-based Services
It seems reasonable that online services would be among the first to embrace digital money. A virtual private network may be purchased with bitcoin from a number of businesses. ProtonVPN, Cyberghost, and NordVPN are three of the most popular.
Cloud storage may also be bought using bitcoin from firms such as MEGA and Sync.
Look no farther than Coin.host or Server Room if you’re wanting to host a website using bitcoin. Dedicated servers are available for as little as $121.5 per month, or 0.000023 BTC.
Charity
Several charity have started to accept bitcoin as a method of payment. The American Red Cross, the American Cancer Society, and UNICEF are among them, as are smaller groups like The Water Project, Save the Children, and Run 2 Rescue.
Charityvest also enables you to give to any charity using bitcoin, even if the organisation does not accept cryptocurrencies directly. Charityvest Funds received $8.1 million in 2020, helping almost 2,100 nonprofits.
Bitcoin Purchases Using PayPal
PayPal unveiled a new service dubbed “Checkout with Crypto” in May that enables customers to make bitcoin bought from millions of businesses. For the merchant, the service converts cryptocurrencies acquired via PayPal’s exchange into US dollars. PayPal was said to be purchasing approximately 70% of all freshly produced bitcoin at one time in order to make the operation viable.
Although clients cannot transmit money from their personal wallets to their PayPal accounts, the service is handy for people who use PayPal to buy and sell bitcoin and other cryptocurrencies.
