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There is no doubt that bitcoin is becoming a growing way of paying for goods and services, but what exactly can you buy using it? Well, the truth is that this is a list that keeps on growing day by day. At the same time, there are several areas in which it is more common to use cryptocurrencies such as bitcoin. Let’s take a closer look at these in a higher level of detail.
New Cars
Many car dealerships have now put bitcoin on their accepted payment methods, and these vehicles are particularly prominent in the luxury market. As you may have already been able to guess, it is modern firms such as Tesla that are leading the charge. Of course, this was a decision that was reversed, but there appears to be noise that is championing the use of bitcoin all over again, so this sector is certainly one to watch in many different ways.
Tech and Ecommerce Products
As a form of currency that exists largely in the world of the internet, it may already seem quite obvious that tech and ecommerce products are commonly purchased using cryptocurrencies. Of course, it is not going to be the case that every single tech product is purchasable, but there is no doubt that there is a movement towards accepting it more readily. One of the biggest tech firms that has been accepting bitcoin and other major cryptocurrencies out there is eBay.
Services and Entertainment
As well as the actual physical products that you are able to get your hands on using bitcoin, there is a growing movement towards services and entertainment accepting these payment forms. For example, you have Thunderpick the best bitcoin esports and casino website. While there may be some service providers who are a bit more on the wary side about accepting cryptocurrencies, this is likely to be a boundary that keeps on being broken down in so many different ways.
Luxury Goods
As the value of bitcoin has shot up in such a significant way over the past few years, there has been a growing trend towards the acceptability of the currency when it comes to purchasing expensive or luxury goods such as watches and jewelry. Again, this is always going to be done on a case by case basis and we are not currently as the stage in which items are being bought on a widespread basis using bitcoin.
Insurance
While it may still not be widespread in the world of insurance, there has been a growing trend towards accepting it as a central way of being able to pay.
These are just a few of the major areas in which bitcoin is currently accepted, but there is every chance that this will continue to grow and expand over the years that are ahead of us. After all, we are still very much in the early stages in terms of cryptocurrencies and what is going on with them in the world.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.