It isn’t challenging to think of all the things you could buy simply from winning a massive payout on the best online casino there is. But not a lot of people are aware of the different things crypto owners can buy using popular coins like Bitcoin. Though many may limit Bitcoin’s purchasing power to buying, selling, and trading, there are many other things one can buy with Bitcoin as well.
So, we’ve put together this informative piece that will shed some light on the various things your Bitcoin can buy if you’re keen on exploring its flexibility.
The Use of Bitcoin
Over the years, Bitcoin has seen many retailers and consumers grow to accept its use in crypto markets and other industries as well. As more and more companies are growing to the idea of integrating Bitcoin into business operations. Bitcoin continues to go mainstream, meaning that you’re likely to find various sectors and industries accepting it as an available payment option for transactions.
At the moment, there are two main reasons why Bitcoin is going mainstream. The first is that the coin is improving in its use of technology with constant innovations that are scaling the crypto network, making them faster and more efficient. The second reason is that Bitcoin, and cryptocurrency as a whole, are no longer confined to being this obscure corner consisting of financial services alone.
While there is evidence to prove that many institutions are accepting Bitcoin as a payment service, you won’t often find large transactions taking place using cryptocurrency. However, there are more active categories that you can explore when you’re looking to buy with Bitcoin.
A Car
There are many car dealerships that you’ll now find that accept Bitcoin as a payment method. While many may think that the list of cars available to crypto users may be limited, this is quite the opposite since the list hosts a wide range of vehicles that include luxury deals, utilitarian vehicles, and even electric cars.
e-Commerce Products And Technology
There are many tech product companies that accept Bitcoin on their websites for payments. These include big names like Microsoft, AT&T, and Newegg. But some sites may provide certain restrictions on which platforms to allow for crypto usage and how sites will go about promoting crypto ads or any products relating to cryptocurrency.
Expensive Watches and Jewelry
There are many makers of luxury goods and retailers that have also started the process of accepting Bitcoin as a payment method. Leading luxury retailers like BitDials which offer Patek Phillippe, Rolex, and other high-end watches, are also in the plan to make the most of the online transacting experience through cryptocurrency. To top this off, there are some jewelry stores that have partnered with crypto payment processors so they can facilitate purchases that are crypto-based.
News Media
Though many of us may limit news media to simply providing the public with the latest news, you can find crypto media outlets that will accept Bitcoin for various services, including subscriptions. In 2014, the mainstream outlet, Chicago Sun-Times was the first leading publication to accept Bitcoin online. In the same year, magazine publisher Time Inc. began doing the same.
Insurance
For the most part, cryptocurrency has slowly made its way into the insurance industry. Though this may have been more of a cautious attempt, in the beginning, the world has seen a lot of change start to occur within the industry. Life insurance still remains a no-go zone; however, providers within the insurance industry have started accepting premium payments through the use of Bitcoin for various products available on the insurer’s portfolio.
How Do You Buy With Bitcoin?
The easiest way to make Bitcoin purchases is to use a cryptocurrency debit card. The cards are available from most leading crypto exchange platforms and other providers. Not only is this easy and convenient to do, but you also have the option to withdraw cash from participating ATMs as a Bitcoin holder.
Like a regular debit card, you’ll use your Bitcoin debit card by reloading it with Bitcoin or any other respective cryptocurrency, so you can use this debit card in-store. Once you make a purchase, the money will be withdrawn from your crypto balance, and the merchant will be paid in fiat currency.
