Due to its price volatility, bitcoin and other cryptocurrencies are often used as investments. But now, more opportunities to make purchases with cryptocurrency are available than ever before. Purchases can now be made through third-party vendors like Paypal, directly with a business that accepts cryptocurrency, or on a peer-to-peer payment platform through a cryptocurrency escrow payment.
Using one of these methods, users open themselves to a variety of products that can be purchased with cryptocurrency. Some of them include:
Vacations and Travel
Although Expedia no longer accepts Bitcoin, CheapAir has recently expanded its payment methods to include Ethereum (ETH), Litecoin (LTC), Dash, and Bitcoin Cash (BCH) for payments on flights, car rentals, and railway tickets. The company continues to promise its cryptocurrency users that as new coins are released, they will continue to update their payment methods to reflect consumers' popular choices.
The website ScubaOtter is a popular choice for making purchases of scuba gear with bitcoin.
Groceries and food
Cryptocurrency enthusiasts can now purchase some of their groceries with Bitcoin, Litecoin, or the Gemini Dollars through the app 'Spedn,' after a partnership with Whole Foods. The Flexa spending app can also be used at Baskin Robbins, Jamba Juice, and several other food retailers in America.
Other countries have followed the trend towards digital payments as well, including KFC Canada. KFC made bitcoin available for payment and created the specialty bitcoin bucket. In France, the Just Eat service also announced that they could accept Bitcoin when ordering food through their platform.
Popular websites such as Gyft, Coingate, and eGifter allow users to pay for gift cards using bitcoin and several other altcoins, including Bitcoin Cash and Litecoin. Gift cards can be purchased for a variety of retailers, including Dunkin Donuts, Best Buy, Target, Nike, Airbnb, Footlocker, and Home Depot.
Gold, silver, and other precious metals
Many investors have chosen precious metals as an investment to diversify their holdings. Now there are many options to purchase these assets with cryptocurrencies.
Bitcoin is the first of the cryptocurrencies to be used for big-ticket purchases such as real estate. In fact, Greater Property Group in Canada recently shared their digital currency program. By partnering with digital currency trusts, sellers can accept offers with bitcoin or Ethereum and choose if they want to receive the funds in fiat or digital currency.
Reed Jewelers, a jewelry store in the United States with over 74 years of experience, has recently started accepting bitcoin as a form of payment for watches, wedding bands, gems, diamonds, and anything else they sell in their stores.
For online purchases, users can use the "Pay with Bitcoin" option on their checkout page. In-store, users simply need to let one of the advisors know that they would like to pay with bitcoin.
Tickets to sports games
For those who happen to be Dallas Mavericks or Miami Dolphins fans, digital currencies are another payment at your disposal. Shark Tank investor and avid bitcoin collector Mark Cuban has been behind the acceptance of bitcoin to buy tickets for upcoming games or any item sold at the stadium for Mavericks games. Similarly, the Miami Dolphins have allowed patrons to purchase food and tickets using the cryptocurrency Litecoin.
Furniture retailers like Overstock.com have also provided options for making purchases with digital currencies. On their website, users can purchase electronics, mattresses, coffee makers, tools, and rugs. To accept bitcoin, Overstock.com partnered with the Coinbase platform. By selecting "Pay with Bitcoin" in the payment information section, users are prompted to provide their information, including a Coinbase account or Bitcoin address.
Custom items from small business owners
Etsy, a globally renowned e-commerce platform, allows sellers to set bitcoin as a method of receiving payments from their purchases. Etsy isn't the only platform to do this; Shopify and Square have also made offerings available to allow small businesses to accept crypto. Furthermore, Blockonomics, a decentralized payment solution, has worked with the website platform WordPress to make Bitcoin integrations easy for business owners. As a result, many custom items or products created by small business owners can now be purchased with specific cryptocurrencies.
This is only a partial list of the places where you might choose to spend your cryptocurrency. After all, with a little creativity, such as transacting with sellers directly on a cryptocurrency escrow platform or purchasing gift cards, just about anything can be purchased with digital currencies.