Once the world became aware of Bitcoin’s potential as an investment mechanism, they started adding the digital asset to their portfolios in various amounts and through multiple ways, hoping to earn a substantial return if they played their cards right. For instance, a great portion of investors prefer to buy Bitcoin p2p and enjoy the flexibility and budget-friendly transaction costs involved.
Most of them would resort to Hodling to increase their chances of success and boost their earnings in the long run. This strategy, which many think stands for hold on for dear life, is based on the assumption that regardless of the price fluctuations that Bitcoin and other cryptocurrencies experience, their value will eventually appreciate over time, helping them secure considerable gains.
So, as a Hodler, one should try to ignore the constant changes in the BTC price and hold on to their Bitcoin funds for long periods of time. Hodling remains to this day one of the most popular and effective ways to make money with crypto, and as a direct consequence, a large percentage of crypto owners are Hodlers.
However, we should not forget that Bitcoin was intended as a medium of exchange, not an investment tool. Satoshi Nakamoto, Bitcoin’s creator, envisioned a form of digital cash that could democratize finance, encourage inclusion, and give people more control over their funds.
Unfortunately, its intrinsic volatility and people’s ensuing reluctance made it hard for the asset to be used for day-to-day transactions, distancing users from its initial purpose.
But now, the rising crypto adoption and the increasing number of companies accepting Bitcoin payments for their goods and services have brought back the possibility of using Bitcoin as a currency rather than a store of value.
Digital assets have seen a lot of progress in recent years, shedding the image of an obscure and shady asset class that could only attract interest from tech-minded individuals or stakeholders with illicit intentions. As governments have started recognizing crypto as an integral part of the financial system and developing regulatory frameworks to facilitate its inclusion, crypto awareness has increased considerably worldwide, and people have become more open to the concept it proposes.
Given the current context, many Bitcoin owners are turning into spenders. But since this payment option is still relatively new and limited, you may be wondering what exactly one can buy with Bitcoin. If you’re thinking of paying with Bitcoin yourself, here’s a list with some of the items you can add to your shopping cart.
Cars
If you’re in the market for a new ride and you have some crypto to spare, you’ll be happy to know that you can fund your purchase with it. Several car manufacturers like Lamborghini and Tesla have jumped on the crypto bandwagon and started accepting digital assets as a payment option. However, keep in mind that not all cryptos are accepted. For example, Tesla only receives crypto payments in Dogecoin. A select list of dealers also allows purchases with crypto, so all you have to do is find a shop that enables these types of payments, and you can start your car search right away.
Airline tickets
Travel and hospitality is another area where crypto payments have been gaining popularity. You can include crypto into your vacation plans by booking your flights with Bitcoin. You can purchase commercial or private charter tickets with BTC via various companies, including AirBaltic, Flight Centre, Fast Private Jet, or Simply Jet, and choose where you want to head next. What’s more, if the airline company or booking agent accepts MasterCard, you also have the possibility to use a BitPay Card to pay for your airline tickets with crypto. Numerous hotel chains also accept crypto, so you can also pay for your accommodation directly with BTC.
Tech products
Since Bitcoin is in itself a tech product, it makes perfect sense for companies in the tech sector to be among the first ones to embrace crypto payments. Tech giant Microsoft has been accepting Bitcoin for its products and services since 2014, so clients can pay for Xbox games and Windows phone apps with Bitcoin. Other companies that have followed suit include Apple, Newegg, and AT&T. E-commerce platforms like Shopify, Amazon, and Rakuten also give you the possibility to shop with Bitcoin on their sites. While most retailers don’t accept crypto directly but via a third-party payment processor, you get the same benefits as if you would make a direct payment.
Luxury items
Crypto payments have slowly but steadily made their way into the luxury market as well. Now, you can purchase a wide selection of high-end goods from top designers and luxury brands with Bitcoin as easily as if you were paying with fiat. Whether it’s bags, jewelry, watches, or clothing items, you have access to a variety of options at BitDials, a crypto-only luxury marketplace, or through BitPay’s Merchant Directory. This makes it easier than ever to spend your crypto coins without having to worry about converting them or having to deal with a complicated checkout process.
Insurance
Strange as it may sound, insurance is also on the list of products that you can purchase with Bitcoin. Swiss insurer AXA has been providing this option since 2021 for nearly all their insurance products, and car insurance companies also seem to be keen on this idea.
Since Bitcoin is a digital coin without a physical form, you may also want to know how Bitcoin payments work. At retailers that accept crypto directly, you can make payments straight from your Bitcoin wallet by entering a wallet address or QR code. Alternatively, if the merchant’s payment structure can’t accommodate crypto directly, as is the case with most stores, you can still make purchases with BTC and other cryptos with a crypto debit card, which ensures convenience and ease of use.
It has to be said that crypto payments are still in their early days, and you won’t be able to buy every single item under the sun with crypto. However, the number of retailers that offer crypto as a payment option is growing fast, and therefore, so is the range of products and services you can purchase. This gives hope that one day, crypto might become a mainstream payment method.
