Bitcoin, Using it as Money to Buy Stuff
Bitcoin is an investment asset, and it is also ‘Money’. And businesses that accepts Bitcoin payments are becoming closer to the mainstream you than you may think.
Most people that I talk to look at cryptocurrencies an investment, a tradable asset, a technology that is shape the future of entire industries and as, the name implies, a form of Money they can spend.
Currently, Bitcoin is trading at: $8,892.3252,+593.32, or +7.15%, the market is closed.
Bitcoin was designed to disrupt the concept of government money and become a leading world currencies for people to pay for things without central banks oversight.
Blockchain is the opensource technology behind it.
The Big Q’s are these: Can I spend it, and on what?
The Big A/s:
Bitcoin’s rise to the world’s #1 cryptocurrency is because now, whether you mine Bitcoin or buy Bitcoin, there are businesses that accept it as payment for goods and services, many of them are on line.
And, surprise, you find a local Bitcoin-accepting business near you.
Looking to spend instead of selling or trading your Bitcoins? Then below is a list of some of the stuff you can buy.
Bitcoin, being a digital currency accessed online, is of course more of a fit for being used via websites than via brick and mortar stores. So, there are many more options for spending your Bitcoin online.
Also, some large companies have fully adopted blockchain, so they are set up for Bitcoin purchases on their sites. Other places are giving it a limited try to see if it can give them a larger base of consumers.
If purchasing something or using Bitcoin to add funds to an online account, the process is fairly similar across the board for using it.
Click “Pay with Bitcoin,” give the site your wallet information, often a QR code, especially if doing it on mobile, confirm your information, and place the order.
This is done through companies like ShapeShift, which provide for cryptocurrency trading.
And some desktop sites may also provide the wallet address for you to send Bitcoins to.
Intuit has also developed a system called PayByCoin to help more businesses accept Bitcoin payments. Even cash apps like Cash App and Square (NYSE:SQ) see that this payment method worth getting into early. And there are lot of other places that allow payment with Bitcoins.
Notably, Bill Gates’ thoughts on Bitcoin have shifted over time, but that has not stopped Microsoft (NASDAQ:MSFT) from working on incorporating it into their payment system. Microsoft users now have the option to add Bitcoins from their wallet into their Microsoft account, but it is available to use only in the Windows Store and Xbox Store.
Expedia (NASDAQ:EXPE) has partnered with Bitcoin wallet/exchange Coinbase for certain transactions, and there is a fee to use it. Should the Bitcoin experiment succeed for Expedia, then expect the expansion of it use with the travel company
Dish Network (NASDAQ:DISH) was an early adopter of Bitcoin amongst larger companies, deciding to allow for transactions with the cryptocurrency in Y 2014.
There are many other websites that now allow for Bitcoin too, including but not limited to:
- CheapAir (travel/hotel booking agency)
- PizzaForCoins (pizza delivery)
- Zynga (Mobile apps/games)
- Etsy (e-Commerce, some Etsy sellers accept Bitcoin as payment)
Bitcoin is not yet a common method of payment at retailers. But, there are some places that one can physically go, buy stuff, and pay with Bitcoin. And initiating payments is quicker than it used to be even though transaction times on the blockchain can be a little slow at times.
So, if you are out and about and want to look for a local Bitcoin ‘acceptor” some places that do accept it may have a sign in the window that say “Bitcoin Accepted Here!”
Have a terrific weekend.
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