Last Update March 13th, 2020. Many people enjoy purchasing goods and services online and in-person with bitcoin for many reasons.
You can buy literally anything you want online with bitcoin. Not only is bitcoin valuable, but also it is a secure and instant way to make a purchase. The best part is bitcoin transactions are essentially anonymous.
Many retailers are adopting bitcoin as a payment method and payment processors like BitPay are making it easier for merchants to accept bitcoin. Most retailers will allow you to pay with a QR code or wallet app.
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An Official Guide To Spending Bitcoin
People are thinking and writing about bitcoin less frequently as currency these days, and more as a commodity. It’s true that with a value now consistently in the thousands of dollars, bitcoin can be somewhat unwieldy as an everyday currency. Bitcoin’s most interesting potential may now be as a long-term investment. Despite this evolution in thinking, however, bitcoin is still a functional digital currency, and there are opportunities to spend it if you know where to look.
If you need to pick up bitcoin quickly locate a nearby Bitcoin ATM that will let you withdraw bitcoin in exchange for cash.
How Can I Find Places To Spend Bitcoin?
For simple everyday purchases, and for in-person retail opportunities, you can actually run a search and find out how to buy just about anything you might want or need via bitcoin. This can be a useful tool, or even just a fun exercise if you happen to harbor an interest in bitcoin’s development and usefulness.
For the purposes of this article, however, we’ll be looking at specific niches and stores in which you can spend bitcoin to buy goods and services.
There are many travel agencies that accept bitcoin, which makes it fairly easy to pay for travel via cryptocurrency.
It’s nice to have universal costs associated with travel booking given the otherwise complex issue of exchange rates, and some also simply appreciate having the ability to use a secure digital currency when dealing with what can often be fairly hefty prices involved with travel.
Gift & Spending Cards
One of the most interesting options that have emerged as a consistent means of spending bitcoin is buying gift cards and cash cards.
Gift cards are a very convenient way for people with bitcoin holdings to put their cryptocurrency to use. They also eliminate the step of plugging in regular credit card information online, which a lot of bitcoin users are looking to avoid.
Many people will be happy to know that they can exchange their hard-earned bitcoins into food using a number of boutique online retailers. Many small businesses around the world are accepting bitcoin as a payment method and are growing by the number. Popular food items include beef jerky, coffee, sauce, wines, and jellies.
A number of mainstream retailers already accept bitcoin as a payment method. While we are still waiting on the granddaddy of all online retailers, Amazon, to incorporate cryptocurrency, there are plenty of mainstream retail sites that welcome bitcoin as a payment method.
Gold And Silver Bullion
Bitcoin is oftentimes compared to gold in terms of rarity and is a popular payment method for purchasing gold and silver bullion online. The convenience of not having to spend fiat dollars makes exchanging bitcoin to gold a very popular option.
See our guide to buying gold with bitcoin for more on this subject.
Jewelry And Watches
Online Gaming & Betting
Already, there are several casino gaming platforms across the internet that welcome bitcoin and other cryptocurrencies as payment methods.
In other cases, new online casinos have been built from scratch to support cryptocurrency payments, and in some cases even to introduce new games revolving around bitcoin.
The betting side of casino culture is less closely tied to bitcoin for the time being but is certainly a natural next step. And this seems particularly worthwhile to mention giving the massive, impending expansion of online betting as a global business.
Sports betting has been made legal in the U.S., and with states now working to implement it, some analyses suggest the U.S. could have the world’s biggest market by 2023. By that time, should betting platforms and more casinos be accepting bitcoin, this could be the single biggest avenue for spending cryptocurrency.