Bitcoin - the most sought-after online currency that has gained immense recognition in recent times - has enjoyed significant hype over the past year, leading to an increased number of coin buyers and a dramatic rise in the overall acceptance of cryptocurrency. Today, more and more people are buying, holding, and investing in coins, which have led many to make astounding revenues at an individual level.
Ditching the traditional finance model, many members of the younger generation have opted for this new virtual currency and are gradually learning how to operate in the new decentralized financial world. For example, 29-year old billionaire, Sam Bankman-Fried, has virtually crashed the crypto market with his $2.5 billion worth of assets. Success stories such as his have also indicated the growing love for crypto amongst younger generations.
With the exceptional profits that one can earn, you must also consider how and where to spend your crypto assets.
Where can you pay with Bitcoin and other Cryptocurrencies?
As there is an increased awareness about the advantages of cryptocurrency, multiple domains and fields have welcomed it with open arms. Here are some of the ways you can spend your cryptocurrency assets:
Retail and General Purchases
Overstock, an online retail giant, was an early adopter of Bitcoin-based payments. It allows users to spend from their assigned virtual Bitcoin wallet at checkout. You can also fund your Microsoft account with Bitcoin, but you can only use those funds in the Windows or Xbox online store.
You cannot use Bitcoin in your Microsoft account in the Microsoft online store. However, some Minecraft servers use the Bitcoin network to run their in-game currency, taking Bitcoin payments to a whole new level. Twitch also accepts Bitcoin.
Travel and Hospitality
Virgin Galactic allows you to purchase travel for Bitcoin, and Expedia allows you to make bookings and pay for hotels using Bitcoin. You can book flights using Bitcoin on CheapAir or take a cruise with Ships & Trips Travel using your Bitcoin balance. Car dealerships are also joining the fray, providing travelers and renters transportation services for Bitcoin.
In addition to the above, BTCTrip, Future. Travel and AirTreks are travel and leisure sites that accept crypto payments, and Norwegian Air, AirBaltic, and Lot Polish Airlines provide air travel services and accept cryptocurrencies as payment.
Donations and Charity
You can donate to Save the Children using Bitpay, and The Water Project, Internet Archive, Red Cross, United Way, and Zamzam Water accept crypto assets for charity and humanitarian aid.
Electronics and Online Services
You can use eGifter to buy online gift cards, and you can shop on NewEgg or Rakuten, a large Japanese electronics retailer, for electronics using your crypto tokens. Also, Time Magazine accepts a wide range of crypto assets such as Bitcoin, Ether, Dogecoin, XRP, Litecoin, and DeFi tokens such as Uniswap, Aave, Balancer, and Compound to pay for digital subscriptions.
In the entertainment space, online digital music retailer Beatport accepts Bitcoin, and you can use bitcoin to pay for other forms of entertainment such as Dish TV, basketball tickets, and on Chess.com.
Finally, you can pay for web hosting services from Hostinger, HostWinds, and EasyDNS using cryptocurrencies, and Nord VPN, ExpressVPN, and AirVPN are VPN services that accept crypto payments as well.
According to this article, the Caruso real estate company accepts Bitcoin for rent payments at many of its properties. This news comes soon after the news of PayPal opening cryptocurrency payments to its 300 million+ user base (as well as Intuit, a financial services tech company), and you can rent space at WeWork using Bitcoin.
Food and Dining
Burger King (in Venezuela), Etsy, and Amatil, a Coca-Cola distributor in the Asia-Pacific region, accept Bitcoin as a payment option. Also, Yum Brands, owner of renowned brands such as KFC, Pizza Hut, and Taco Bell, accept Bitcoin at selected locations. Subway, Domino’s Pizza, and Eat Me Bangkok (location-specific) also accept Bitcoin for food purchases.
You can also shop at Whole Foods using the “Spend" app, and Starbucks also allows users to use Bitcoin toward earning rewards and items.
There is more
The list above is by no means definitive and only covers some of the more recognizable brand names worldwide. There are hundreds – if not thousands – of smaller businesses that accept cryptocurrencies for goods and services. You can find these services by performing a basic online search for specific businesses in your local area. New businesses are joining the crypto fold every day. With large payment processors such as PayPal extending crypto payment services to millions worldwide, more and more businesses will continue to add crypto payment options to their users at checkout.
Picking up the right platform is the key for beginners to excel with adequate assistance. If you already have crypto earnings, want to convert your earnings to other cryptocurrencies, send your crypto assets to a seller’s wallet for goods and services, or if you are simply interested in getting started with earning or investing in cryptocurrencies, Wisebitcoin is here to get started with your crypto journey today!