Oct 22, 2021
Consumer Goods and Services You Can Buy with Bitcoin
From vehicles and real estate to food and clothing — a look at the increasing list of things you can purchase with Bitcoin.
Bitcoin is typically regarded as an investment instrument by investors, often referred to as digital gold. While many investors view BTC as a store of value, it is also gaining popularity across the globe as a payment method.
When El Salvador declared Bitcoin as a legal tender, many people proudly took to social media to show the McDonald’s and Starbucks items that they purchased using BTC. But BTC purchases aren’t limited to El Salvador. Throughout the world, consumers can use Bitcoin to purchase anything from clothes to food to private jets — the sky’s the limit.
Benefits of Bitcoin as a payment method
Bitcoin as a payment method offers several benefits:
- The ability to carry out peer-to-peer payments without approval from any external authority.
- No banking or processing charges.
- Fast transactions with low transaction fees.
- It is accessible to anyone from anywhere with an electronic device and an internet connection.
- Bitcoin transactions are pseudonymous. Personal information is not required to complete a transaction.
Things you can buy with Bitcoin
Popular brands such as McDonald’s have started to accept Bitcoin payments from customers, and the possibilities are rapidly growing. Here are just a few of the products and services that allow BTC payments:
Vehicles
While Tesla has temporarily suspended Bitcoin payments, it isn’t the only fish in the sea.
Car dealership companies such as BitCars and AutoCoinCars allow customers to buy luxury cars with BTC, including Lamborghini, Porsche, McLaren, Bugatti, and Koenigsegg.
Bitcoin holders can also buy vehicles like off-road UTVs, motorhomes, and classic cars. Notably, electric car manufacturer Karma Automotive announced that it would accept Bitcoin payments at its main dealership in Newport Beach for new EVs.
Real estate
Buying real estate properties with crypto may be unusual, but the first-ever house sale using BTC took place in 2017 in Essex, United Kingdom. Over the past few years, the real estate industry has gradually increased its adoption of cryptocurrency payments. Swiss consulting firm Bithome accepts BTC payments for different types of properties across Europe, America, and Asia.
The region-specific platforms like Caliber & Partners accept crypto payments to buy mansions in Spain. Online marketplace Mercado Libre and real estate company WeWork have also joined the list of accepting payments in crypto for their products or services.
Clothes
Consumers can also purchase clothes with digital currencies. MtSocks, a socks company, allows customers to buy socks with Bitcoin payments. SUMOR Par elle, a Dutch clothing and accessory store, accepts Bitcoin payments for its products like bags and shoes.
Fun Fact: cleaning company Dublin Cleaners also accepts Bitcoin payments for cleaning clothes.
Food and beverages
A decade ago, in 2010, a person paid 10,000 BTC to someone for two pizzas. Today, Pizza Hut accepts Bitcoin, Ether, and other cryptocurrency payments in Venezuela.
France-based food delivery app Just Eat accepts BTC payments for food deliveries from more than 15,000 restaurants. Food and drink franchises such as McDonald’s, Starbucks Corp., and Pizza Hut Inc. have accepted crypto payments in El Salvador after the country legalized Bitcoin payments.
Gold
Digital gold can also be used to buy real gold. Platforms like Bitgild and European Mint allow their customers to buy gold, silver, and platinum in the form of bars or coins using Bitcoin payments. European Mint accepts digital currencies through BitPay with 1% fees. Bitgild allows the customers to pay from a Bitcoin wallet or any crypto exchange.
Domain names
It can also be used as a payment method to buy domain names. Platforms like Namecheap, Monovm, and Domains 4 Bitcoins accept Bitcoin payments from customers. Some of them offer top-level domains (TLDs) to customers who pay in digital currency, and others offer premium domains directly through the website.
Web hosting, private servers, and virtual spaces can also be purchased using BTC from different platforms like Server Room, Clouvider, Coin.host. Crypto holders can buy blockchain domains like .crypto from Unstoppable Domains. Once users purchase this domain, they need not renew it at regular intervals.
Donate to Charity
Prominent charities have also acknowledged the unique features like transparency and traceability of cryptocurrencies, which can improve efficiency while reducing fraud. Popular charities accepting Bitcoin payments include:
- Save the Children
- American Red Cross
- The Water Project
- The American Cancer Society
- UNICEF
- The Royal National Lifeboat Institution
In addition to spending BTC on the products, services, and charities listed above, you can also use crypto to buy home appliances like sofas, pillows, curtains, chairs, and electronic gadgets like desktops, cameras, drones, tablets, CCTV, metal detectors with digital assets. Other miscellaneous things such as pet supplies, gaming products, web services, artworks are also accessible with crypto payments.
Final Words
Companies have started using Bitcoin as a payment method in different parts of the world. While it might take a few more years for Bitcoin payments to become mainstream, it’s just the beginning.
Originally published at https://www.cryptohopper.com.
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