Exploring the Utility of Bitcoin: What Can You Purchase with BTC?
When it comes to using bitcoin (BTC) for transactions, many might conjure up images of a shadowy black market, clandestine dealings, or the extravagant purchases of billionaires seeking luxury yachts and private jets.
However, the reality of what you can buy with bitcoin is far more diverse and extensive than these stereotypes suggest.
In recent times, the acceptance of cryptocurrency, particularly bitcoin, as a legitimate form of payment has been on the rise. Over one-third of small businesses in the United States now embrace cryptocurrencies, expanding the range of products and services available for purchase with BTC.
From industry giants like Microsoft and AT&T to local farmers’ market stalls, businesses across various sectors have recognized the advantages of bitcoin, including its ease of use for international transactions, anonymity, and irreversible transactions.
This has opened up a world of possibilities for consumers.
What Can You Purchase with bitcoin?
Cars:
While Tesla’s decision to halt bitcoin payments in 2021 made headlines, the used car market remains bitcoin-friendly. Platforms like BitCars offer luxury vehicles, including Teslas, with prices listed in BTC. From a Lamborghini Huracan to a Vario Perfect 1000 motorhome, you can find a wide range of options to suit your preferences.
Real Estate:
The use of bitcoin for real estate transactions has evolved from novelty to norm since the first-ever bitcoin property sale in 2017. In some cases, high-end properties are now being sold for cryptocurrency, with a Miami penthouse selling for a staggering $22.5 million in crypto. Real estate groups worldwide are embracing cryptocurrency, and even companies like WeWork accept bitcoin for office space payments.
Sporting Events:
While not yet commonplace, some sports franchises are leading the way in accepting bitcoin for ticket purchases and merchandise. For instance, the Dallas Mavericks, owned by blockchain enthusiast Mark Cuban, partner with BitPay to accept bitcoin. Major League Baseball’s Oakland A’s also offer luxury suite season tickets for 1 BTC.
Art and Collectibles:
Auction houses are beginning to accept cryptocurrency as payment, particularly with the rise of non-fungible tokens (NFTs) in the art world. Galleries across the United States are also increasingly open to bitcoin payments. Platforms like Maecenas enable you to invest in fractional shares of famous artworks using bitcoin.
Travel:
Bitcoin can be used to book flights and accommodations worldwide through platforms like CheapAir and Travela. Some hotels even allow direct bitcoin payments, although third-party services may still be required in certain cases.
Private Jets:
For those with deeper pockets, companies like BitLux and flyExclusive now accept bitcoin for private jet chartering. You can even purchase your own private jet outright with bitcoin through Aviatrade.
Web Services:
Web-related services, such as virtual private networks (VPNs) and cloud storage, can be acquired using bitcoin. Providers like ProtonVPN, Cyberghost, NordVPN, MEGA, and Sync accept cryptocurrency for their offerings. Hosting a website using bitcoin is also feasible through vendors like Coin.host and Server Room.
Charity:
Numerous charitable organizations, including well-known entities like the American Red Cross, UNICEF, and the American Cancer Society, accept bitcoin donations. Smaller charities, such as The Water Project and Run 2 Rescue, have also embraced cryptocurrency contributions. Charityvest allows you to donate to various causes using bitcoin, even if the charity itself doesn’t directly accept cryptocurrencies.
PayPal Bitcoin Purchases:
PayPal introduced “Checkout with Crypto,” enabling users to make purchases with bitcoin at millions of merchants. While the cryptocurrency is converted to U.S. dollars for transactions, this service has expanded the utility of bitcoin for everyday purchases.
In summary
The use of bitcoin has transcended its initial associations with the dark web and extravagant indulgences. It has become a versatile and accepted means of payment for a wide range of products and services, offering convenience and expanding financial options for consumers around the world. As cryptocurrency adoption continues to grow, the list of what you can buy with bitcoin is likely to keep expanding.