What Can You Buy with Bitcoin? A Complete Guide to Buying Things with Cryptocurrency
- February 24, 2023
- 17 min read
- 135 reads
Bitcoin has been around for a while now, and it’s become more mainstream as time goes on. You can now use Bitcoin to buy a variety of things, from pizza to plane tickets.
In this post, we’ll go over some of the best ways to spend your Bitcoins.
We’ll also give you a few tips on how to get started with Bitcoin if you’re new to the world of cryptocurrency.
💡 Jump to the list of things you can buy below.
Here’s what we’ll cover in this post:
What Are the Benefits of Using Bitcoin?
1. Low Transaction Fees
Using Bitcoin to make transactions reduces transaction fees compared to traditional payment methods such as credit cards, banks, and money transfer services.
This is because there are no extra fees when using Bitcoin and competitive fiat-to-Bitcoin conversion rates are offered by cryptocurrency exchange platforms like Binance.
By using Bitcoin instead of traditional payment methods, users can save money on transaction fees while still being able to take advantage of competitive rates for conversion.
Additionally, there is no need for any special equipment or membership requirements in order to use Bitcoin so it’s more accessible than other payment methods.
2. Fast Payments
Using Bitcoin to make payments speeds up the process by eliminating the need for intermediaries such as banks or credit card companies.
Transactions can be completed quickly and easily through a QR code or wallet app, without having to wait for days for funds to transfer.
This allows merchants to receive payments quickly, without having to worry about processing times or fees associated with traditional payment methods like PayPal or CashApp.
It also gives customers more options when it comes to paying with cryptocurrency since they no longer have to wait months before seeing the funds in their bank account after completing a transaction.
Anonymity benefits using Bitcoin because it does not require users to provide as much personal information as traditional payment methods.
This is beneficial since it prevents third parties from tracking a user’s purchases and spending habits, which can be potentially damaging in some cases.
Additionally, some merchants may not require any information at all when accepting Bitcoin payments – such as for donations – which further enhances user privacy and security.
4. Global Accessibility
The global accessibility of Bitcoin helps users in a number of ways. First, it allows them to make transactions without having to rely on traditional banks or other financial institutions.
This means that users can remain anonymous while making transactions across borders without incurring costly fees or government oversight.
Additionally, Bitcoin provides an opportunity for investors to diversify their assets by investing in cryptocurrencies from anywhere in the world with minimal barriers to entry.
Furthermore, bitcoin is accepted as a form of payment by many companies offering global citizenship services such as Nomad Capitalist which helps users save time and money on transaction fees associated with traditional currencies or payment methods such as credit cards or PayPal.
Finally, since Bitcoin is an internet-based currency with no physical presence (i.e., no coins or paper bills), it offers peace of mind knowing that your investments are secure from physical theft due to its decentralized nature and lack of physical points of access/control points.
Using Bitcoin provides users with a sense of financial sovereignty, as they have control over their assets and can store, invest in, send and receive payments without relying on any third-party financial service providers.
Bitcoin transactions are secure due to its blockchain technology which is considered one of the most secure platforms in the world.
Furthermore, users can also take advantage of encrypted wallets that provide additional layers of security for their funds. The effect will be strengthened with the secure and fast hosting of a bitcoin VPS.
6. Potentially High Returns
Cryptocurrency offers the potential for high returns due to its volatile price swings.
Since its inception in 2009, Bitcoin has experienced several major price spikes and crashes, with its value increasing from less than $0.01 to over $19,000 in 2017.
As of January 2023, Bitcoin’s value is around $16,824.
Read more: View Live Bitcoin Price Data
In addition, cryptocurrency may provide portfolio diversification benefits due to its lack of correlation with other asset classes.
Furthermore, investors have access to 24/7 trading via cryptocurrency exchanges without any regulatory or governmental constraints that could potentially limit their investments otherwise.
7. Easy to Store and Secure
Using Bitcoin to store and secure money makes it easy because it is digital, decentralized, and encrypted. Bitcoin can be stored on a digital wallet that is easily accessible from any device.
Bitcoin is protected by advanced cryptography that makes it difficult for hackers to gain access.
Additionally, since Bitcoins are stored electronically there is no need for a safety deposit box or other physical storage space which saves time and money.
Moreover, the blockchain technology used by Bitcoin ensures that transactions cannot be altered or reversed once they have been completed which provides peace of mind when dealing with large amounts of money.
8. Ability to Make Payments with Crypto Cards
Using a cryptocurrency debit card allows users to make payments with Bitcoin by converting their cryptocurrencies into local currency.
This allows the holder to spend their Bitcoins on almost anything they choose, as the card will act as a middleman and exchange their cryptocurrencies for local money that is paid directly to merchants.
9. Chance to Invest in Emerging Technologies
Using Bitcoin can help investors invest in emerging technologies by providing an alternative, global currency that allows them to access a wide range of opportunities.
By using Bitcoin, investors can invest in a variety of innovative and potentially high-growth companies without having to worry about exchange rates or cross-border transaction fees.
Cryptocurrency provides transparency and security for those who use it.
10. Ability to Make Donations and Give Gifts Using Bitcoin
Using Bitcoin to make donations and give gifts can be beneficial for both the donor and the charity. Charities that accept bitcoin donations are able to receive funds faster than traditional methods, reducing their administrative costs.
Additionally, donors can track their contributions in real time through apps like Charityvest which allows them to see exactly where their money is going.
Finally, charities that accept Bitcoin donations can potentially receive more money due to its global reach – especially in developing countries where credit card transactions may not be as common.
List of Things You Can Buy with Bitcoin
1. Clothing and Accessories
You can buy a wide range of clothes and accessories with Bitcoin, including tees and tops, belts, capris and pants, beachwear, scarves, earrings and necklaces, bracelets, and rings.
Additionally, established clothing retailers and boutique labels alike are beginning to accept direct crypto payments for clothes and fashion accessories.
The types of jewelry that are available for purchase with Bitcoin include watches, diamond rings, necklaces, and other types of jewelry.
Sites like BitDials offer high-end watches such as Rolex and Patek Philippe in return for Bitcoin and other cryptocurrencies. Some jewelry stores have partnered with payment processors to facilitate crypto-based purchases from their stores.
Additionally, some jewelers have begun accepting Bitcoin as a form of payment for their products.
You can buy a wide variety of electronics with Bitcoin, including laptops, desktops, tablets, headphones and speakers, CCTV and security cameras, metal detectors, and TVs.
You can use BitPay as your payment method when purchasing these items from retailers like Newegg or use the BitPay Card at any electronics retailer that accepts MasterCard.
Additionally, you can leverage gift cards in the BitPay app or extension to shop at retailers like Amazon and Walmart which have a large selection of electronics available.
4. Vacation rentals
Cryptocurrency platforms such as Travala allow users to book flights and hotels in various worldwide destinations, from hundreds of different airlines, using cryptocurrencies like Bitcoin as payment.
Some hotels have also started to take bookings with Bitcoin directly, and one example is the Bobby Hotel in Nashville which accepts BitPay.
The hotel has a variety of city-themed rooms, as well as a beautiful rooftop lounge and a 1963 Lincoln Continental available for guests to experience.
5. Food and Beverages
Bitcoin users can buy a variety of food and beverages with their cryptocurrency, including coffee, tea, wine, and beer.
Coffee shops such as Starbucks have begun accepting BTC payments in recent years, while online retailers like Overstock.com offer discounts for those who pay with BTC.
Wine merchants like BitPremier allow customers to purchase wine from around the world using Bitcoin. And beer distributors like BitBrew allow customers to buy craft beers from local breweries using BTC.
You can hop into a Bitcoin-friendly cab and pay with Bitcoin for your ride, or use your wallet or BitPay Card to purchase airline tickets.
In Hungary, you can use Bitcoin to pay for public transportation such as buses and trains.
With Bitcoin, you can purchase a wide variety of goods and services including:
- Airline tickets
- Hotel reservations
- Dating site memberships
- Gambling chips and tokens
- Video game credits and in-game items
- Music, movies and TV shows downloads/streaming subscriptions.
Games that can be bought with Bitcoin include action, adventure, puzzle, and strategy games. You can buy popular titles – from The Witcher 3: Wild Hunt to Minecraft – with crypto.
There are a variety of types of art available for purchase with Bitcoin, including paintings, drawings, sculptures, and more.
You can find both acclaimed and emerging artists on platforms such as Singulart who are willing to accept payment in Bitcoin for their works.
Alternatively, the Maecenas platform takes fractions of art and tokenized them so they can be traded for cryptocurrency.
10. Coins and collectibles
You can use Bitcoin to buy coins and collectibles from a variety of categories, including art, antiques and collectibles, flowers, herbal medicines, and non-fungible tokens (NFTs).
Examples of coins and collectibles that can be bought with Bitcoin include gold coins at JM Bullion and paintings using Paxful.
How To Spend Your Bitcoin
Choose What To Buy
When choosing a way to spend Bitcoins, there are a variety of options available. You can use them to pay for goods and services, transfer money abroad, invest in ICOs or other cryptocurrencies, or even use them to buy travel tickets or hotel stays.
When deciding how to spend your Bitcoins, it is important to consider your financial goals and the long-term impact that each option could have on your finances.
For example, investing in ICOs carries more risk than buying traditional stocks but potentially offers higher returns.
Additionally, spending Bitcoins for travel may be more cost-effective than using traditional currency depending on the exchange rate at the time of purchase.
Get a Bitcoin wallet
A Bitcoin wallet is an app or online service that allows you to store, send, and receive Bitcoins. Popular options include Blockchain, Mycelium, and Bitgo.
You can buy them from an exchange such as Coinbase or from a friend who already has some.
Make the Purchase
Once you have Bitcoins in your wallet, use them to purchase goods and services from merchants.
Upon checkout, if you only see a merchant address or can’t scan QR codes, manually enter it as the recipient in your Bitcoin wallet software.
To pay to a Bitcoin address, provide two pieces of information—the recipient’s address and amount—to your wallet (which will be displayed on the payment page during checkout).
Enter them into the “send” form of your wallet and submit transactions.
Bitcoin is a versatile currency that can be used for a wide variety of purposes. Whether you’re looking to make a purchase online or donate to a cause, there’s a way to do it with Bitcoin.
With its growing popularity, it’s likely that we’ll see even more uses for Bitcoin in the future.
What is Bitcoin?
Bitcoin is a digital currency that is open to, and controlled by, thousands of individuals around the world who are financially incentivized to maintain the security and validity of the network.
Bitcoin operates outside of the control of a central entity, like a government or company, but within the control of its open-source rules. As set out in those rules, only 21 million Bitcoin will ever exist which can be divided into smaller units.
This limited supply and decentralized architecture have established Bitcoin as a new form of money for the digital world.
What types of items can you buy with Bitcoin?
You can purchase a wide variety of items with Bitcoin, including:
- Vacation rentals
- Online services
What is a crypto wallet and how does it work?
A crypto wallet is a digital account in which you can store your cryptocurrency.
It works by providing you with a secure place to store your private keys, which are needed to access and spend the currency. Crypto wallets can be either hot or cold, with hot wallets using online software and cold wallets relying on offline electronic devices.
Hot wallets typically don’t charge fees but may have slower transaction speeds than cold wallets. Both types of wallets allow you to convert fiat money into digital currency or vice versa with platforms such as Coinbase, Trezor, and Binance offering incentives for using their services.
How can I pay with Bitcoin?
1. If the merchant is using a QR code, scan it with your smartphone to display the recipient’s bitcoin address and payment amount.
2. Enter the recipient’s bitcoin address and amount into your Bitcoin wallet software.
3. Submit the transaction using your wallet’s “send” form, then wait for it to be confirmed by miners on the blockchain network (this may take a few minutes).
4. If using Coinbase, shortly after sending the payment, the checkout page will update to indicate that funds have been received and the purchase marked as complete.
5 . For other payment processors or direct payments without a processor, the process may be slightly different.
How do I convert my Bitcoin into fiat currency?
1. Sign up for a crypto wallet, such as Coinbase, Trezor, or Binance. These platforms offer mobile apps and wallets that make it easy to interact with your funds safely.
2. Make sure you understand any charges and benefits related to the card before signing up for one of these crypto cards.
3. Use the wallet to convert your fiat money into digital currency (Bitcoin) or vice versa as needed through online exchanges like Coinbase or Binance.
4.. If you want to withdraw cash from an ATM directly from your Bitcoin wallet account, use a crypto card instead of a regular debit/credit card that is tied to it.
Are there any transaction fees when using Bitcoin?
When you use Bitcoin, there are usually no transaction fees. However, some exchanges or wallets may charge a small fee when you send or receive funds.
What are the risks of using Bitcoin?
The risks of using Bitcoin include:
- A high degree of volatility means that prices can fluctuate dramatically.
- Lack of adoption, meaning that it is not as widely accepted as fiat money.
- Risk of cyberattacks and theft due to its digital nature.
Complexity in understanding how it works and how to store it properly.
- Lack of consumer protection if something goes wrong with your investment or transaction.
What are the benefits of using Bitcoin?
The benefits of using Bitcoin include:
- Storing value – Bitcoin offers users the ability to claim sovereignty over their financial assets.
- Investing potential – For investors, the limited supply of bitcoin makes it a compelling alternative to traditional hard assets like gold.
- Sending payments around the world – Bitcoins can be sent around the world instantly without having to rely on traditional monetary systems or banks/financial services providers (FSPs).
- Paying for goods and services – Bitcoins can be used to pay for goods and services without having to rely on FSPs or other financial institutions such as credit card companies or banks (e..g VISA).
How do I find merchants that accept Bitcoin?
Use search engines like Google or Bing, or visit websites such as CoinMap (coinmap.org) or Bitcoin Merchant Map (bitcoinmerchantmap.com) to see a list of merchants worldwide that accept Bitcoin.
What tech companies accept Bitcoin?
- Microsoft: Microsoft currently accepts bitcoin only at its online store, not on its Xbox gaming platform.
- Overstock: An e-commerce platform selling a wide array of merchandise, was among the first sites to accept bitcoin in 2014.
- Shopify: Allows users to purchase products with bitcoin.
- Rakuten: Japanese e-commerce giant that also accepts BTC as payment for products and services.
- Newegg: US-based electronics retailer that began accepting Bitcoin payments in 2016. AT&T: Telecom company that began accepting BTC for phone bills in 2018.
- CyberGhost VPN: A virtual private network (VPN) provider based out of Romania that accepts cryptocurrency as payment for their services since 2015.
- Bullet VPN: Another VPN service provider based out of Hong Kong who started accepting Bitcoin payments since 2017.
- NordVPN: A Panama-based VPN service provider who has been accepting BTC payments since 2013.
- ExpressVPN: Another popular VPN service provider based out of British Virgin Islands who also started taking crypto back in 2013.
- Cinfu: Chinese web hosting company founded in 2003 which allows users to pay with Bitcoin for their hosting services since 2017.
- Hostinger: Hungarian web hosting company founded back in 2004 which now accepts cryptocurrency as a payment method on their website since 2018.