Bitcoin’s popularity has grown exponentially in the past years, stirring up investors’ portfolios. Even if other cryptos have also become popular in time, Bitcoin still remains at the top, as it has established itself as one of the most reliable digital currencies for investors who seek to make a revenue from their investments. Looking at bitcoin price’s history, the coin reached a significant value in 2021, and while fluctuations are unavoidable, no one can deny the potential of bitcoin in the financial world.
While users perceive it as an investment that they can later convert to fiat money, some stores now accept bitcoin as payment. Since this digital currency is becoming widely accepted, you may also want to find out what you can purchase with it. In daily life, people use traditional currencies to buy different products and services, whether by using cash or a card. However, it is now possible to buy many things using Bitcoin, the world’s most valuable cryptocurrency.
Luxury watches and cars
Some luxury car dealerships and high-end retailers now accept Bitcoin as payment. They have partnered with crypto-allied companies to facilitate the transactions, enabling customers to purchase luxury goods like supercars, jewelry and watches by using their bitcoin. However, it’s worth noting that the acceptance of Bitcoin for luxury goods is still relatively limited, and its availability depends on the location and merchant. You can learn if a car dealership accepts bitcoin payment for the vehicle by calling multiple dealerships in your area and asking their salespeople directly.
They may have to ask management, but there’s a good chance you’ll quickly get an answer. Another option is to check the dealership’s website to determine if they mention accepting bitcoin payments. You can also look at their social media account and check customers’ reviews to see if anyone talks about purchasing a vehicle from the dealership with their bitcoin funds.
While it’s not possible to buy everything you want with Bitcoin, there’s a solution to this issue: purchasing gift cards with this crypto. Once you do so, you can pay for different services and products. Bitrefill is a popular site that allows you to buy gift cards for various brands, such as Xbox, Nike, Amazon – even Uber. And you can buy them with Ethereum, Litecoin and other cryptos, not just Bitcoin. This is a common way to make purchases from merchants that don’t directly accept crypto as payment.
Furniture and home improvement
It is possible to use Bitcoin and other cryptos to purchase furniture and home goods and improve your living space. You can do so by turning your bitcoin into a gift card for notable home improvement stores, including Wayfair and Home Depot. Here are some furniture pieces you can purchase:
- Sofa and curtains for your living room;
- Chairs for dining;
- Assorted kitchen appliances;
- Diffusers and humidifiers;
- Washing machines.
Clothes and fashion accessories
It is becoming more common for established clothing retailers to accept crypto as payment. For instance, you can purchase from notable brands like H&M Express and American Eagle using your bitcoin. Things you can buy include:
- Earrings and necklaces;
- Tees and tops.
Food and beverages
Perhaps one of the greatest utilities of bitcoin is that you can buy food with it, such as:
- Burger king;
- Salads and sandwiches;
- Kentucky fried chicken;
- Cheese fries.
Businesses selling beverages also accept BTC payments, so if you’re looking to get some coffee or tea, Bitcoin has you covered.
No one would have ever imagined that one day, it would be possible to travel the world using crypto. Fortunately, it’s not a dream! If you want to hop on a plane and immerse yourself in a new culture, it’s easy to buy airline tickets using your bitcoin. Websites like Travala, AirBaltic and Alternative Airlines allow you to pay for flights directly from your crypto wallet. Moreover, on these sites, you can also purchase gift cards for accommodation.
Electronics have become indispensable in modern society, so it only makes sense that the tech industry accepts Bitcoin as payment. You can purchase different electronics, like desktops, tablets, laptop power banks, headphones, and speakers. For instance, Newegg is a big tech company that enables Bitcoin payments via an app called BitPay. However, it’s worth noting that Newegg doesn’t provide refunds if you purchase through the app.
Suppose you’re both a gaming fan and a crypto enthusiast; now, it’s possible to merge the two. During the last few years, video game developers have started selling their products online, easing themselves into accepting multiple payment options, including BTC. You can purchase a gift card online for a vendor like PlayStation, Xbox, or Steam. Or another alternative is to choose a dedicated website that allows game payments with crypto. For example, on Joltfun, you can either buy keys for games or invest your funds into another’s game vendor wallet. After buying the key, you’ll get an email with the key code, which you can use to activate the game. Sites like Keys4Coins also provide this service.
Pros and cons of buying with Bitcoin
Like all cryptos out there, Bitcoin has its strengths. The perks of paying with Bitcoin include the following:
- Anonymity. Bitcoin provides a decentralized payment system that doesn’t require your personal information. This means you can carry out financial matters without worrying that someone may follow you.
- Peer-to-peer transactions. Making bitcoin payments don’t require any intermediary, allowing you to send and receive BTC from anyone.
- Lower fees. Unlike fiat transactions, Bitcoin transactions involve lower fees. This is due to crypto’s peer-to-peer nature, which reduces costs for everyone involved in a transaction.
- Zero geographical limitations. With Bitcoin, you can send and receive payments from literally anywhere in the world, which isn’t quite possible with fiat money. Plus, unlike credit facilities and banks, anyone can access bitcoin payments as long as they have a digital wallet and a stable internet connection.
Crypto payments also come with disadvantages, such as:
- Volatility. Crypto is known for its price fluctuations, which can negatively impact buyers’ transactions. For instance, the bitcoin price can drop between the time when you buy an item and the moment the transaction is confirmed. This means you may pay more than the actual cost in case the price rises before your payment is approved.
- Irreversibility of transactions. Once completing a transaction, your payment is not reversible. There are only rare cases when the recipient can send back payment when another transaction is performed, but they come with risks.
The bottom line
While Bitcoin was first designed for transferring money, it has multiple use cases nowadays, with many people embracing it to purchase goods and services. With Bitcoin, you can buy many things, including clothing items, gadgets or your next flight.