Bitcoin

What Can Bitcoin Be Used For?

Many people imagine a black market full of shady dealings, off-the-record sales, and illicit products when we talk about buying stuff with bitcoin, or millionaires looking for luxury boats and private jets. In actuality, there is a vast list of things that may currently be purchased using bitcoin.

The list of things and services you can buy with the “digital gold” continues to grow by the day, with more than one-third of small businesses in the United States already accepting cryptocurrencies as a form of payment.

Bitcoin’s features as a payment method – particularly the simplicity of cross-border transactions, anonymity, and nonreversible transactions – have been welcomed by businesses across many industries, from huge corporations like Microsoft and AT&T to tiny businesses like your local farmer’s market stand.

A few common goods that can be purchased using bitcoin are listed below.

Cars

While Tesla made news in May 2021 when business founder Elon Musk stated the company will no longer accept bitcoin as a form of payment, the used automobile market has long been bitcoin friendly.

BitCars is an example of an online dealership that sells a variety of premium vehicles, including Teslas, with listings priced in Bitcoin. If you ever feel the urge for speed, you can buy a Lamborghini Huracan for 12.432 BTC on BitCars’ website. Are you planning a road trip? You can purchase a Vario Perfect 1000 motorhome for 38.68394 BTC.

AutoCoinCars, for example, resembles a typical used vehicle shop with a wide range of affordable options for buyers looking for something less unique.

Investing in real estate

Since the first bitcoin property transaction in 2017, purchasing real estate using bitcoin and other cryptocurrencies has gone from being a novelty to a routine occurrence. A Miami condominium sold for $22.5 million in crypto in June, making it the highest sale ever made with the digital currency. Several global real estate companies currently accept bitcoin as payment for their listings, including:
  • Bithome
  • Partners and Caliber
  • Mercado Libre (Free Market)
WeWork, a popular office-sharing and real estate company in the United States, now accepts bitcoin as a payment method through BitPay. Coinbase, a cryptocurrency exchange, was the first to take advantage of the deal.

Sports competitions

While purchasing game-day tickets using bitcoin is not yet widespread in all stadiums across the United States, several teams have begun to pave the road for its adoption. The Dallas Mavericks of the NBA, which are owned by blockchain investor and entrepreneur Mark Cuban, have teamed up with BitPay to take bitcoin and other cryptocurrencies. They even give you a discount on products if you buy with bitcoin.

The Oakland Athletics of Major League Baseball stated before the start of the current season that they will be selling season tickets for luxury suites for 1 BTC, or its currency equivalent. The A’s, like the Mavericks, have made tickets and goods available for purchase using bitcoin and other cryptocurrencies.

More than simply sporting events are benefiting from the technology. Tickets to concerts and other events held in arenas can also be purchased with Bitcoin.

Bitcoin can be used to purchase artwork.

On the heels of the non-fungible token explosion spilling into the realm of fine art, high-profile auction houses have begun to accept cryptocurrencies as a payment mechanism. A Banksy piece worth between $2.82 million and $4.1 million was recently posted for purchase in bitcoin and ether by the renowned Phillips auction house in Hong Kong. The number of galleries in the United States that take bitcoin as a form of payment is also growing, but it is currently centered on the East and West coasts.

Maecenas is a bitcoin-based platform that allows you to invest in fractional shares of iconic artwork. It sold a 31.5 percent stake of the Andy Warhol painting 14 Small Electric Chairs for $1.7 million at auction in 2019.

Travel

Bitcoin may be used to book flights and hotels all over the world as the travel sector reopens. Booking.com and Expedia have teamed with CheapAir and Travela to allow users to make purchases with bitcoin and other cryptocurrencies.

A week at the Beverly Hills Hotel in Los Angeles costs 0.33 BTC, or $10,430.

Some hotels even allow customers to book stays using bitcoin directly through BitPay, while most still require the use of a third party to pay in bitcoin entirely, which can result in additional fees.

Private planes

Companies like BitLux and flyExclusive, who recently started accepting bitcoin for private jet chartering, are now allowing crypto-savvy tourists with bigger budgets to fly private. The cost of a flight from Paris to Hong Kong is just around $100,000.

If you want to buy a plane outright using bitcoin, Aviatrade allows you to do so, with a selection of jets listed on the site that are valued in the tens of millions of dollars.

Web-based services

It makes reasonable that web services would be among the first to embrace digital currency. A virtual private network can be purchased with bitcoin from a variety of companies. ProtonVPN, Cyberghost, and NordVPN are three of the most popular.

Cloud storage can also be purchased using bitcoin from firms such as MEGA and Sync.

Look no farther than Coin.host or Server Room if you’re wanting to host a website using bitcoin. Dedicated servers are available for as little as $121.5 per month, or 0.0038 BTC.

Charity

Several charity have started to accept bitcoin as a method of payment. The American Red Cross, the American Cancer Society, and UNICEF are among these, as are smaller organizations like The Water Project, Save the Children, and Run 2 Rescue.

Charityvest also allows you to donate to any charity using bitcoin, even if the organisation does not accept cryptocurrencies directly. Charityvest Funds received $8.1 million in 2020, helping over 2,100 nonprofits.

Bitcoin purchases using PayPal

PayPal launched a new service dubbed “Checkout with Crypto” in May, which allows users to make bitcoin purchases from millions of merchants. For the merchant, the service converts cryptocurrencies acquired through PayPal’s exchange into US dollars. PayPal was said to be purchasing approximately 70% of all newly produced bitcoin at one time in order to make the operation possible.

Although clients cannot transmit money from their personal wallets to their PayPal accounts, the service is handy for people who use PayPal to buy and sell bitcoin and other cryptocurrencies.

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