You may have heard of Bitcoin before, but if you’re like a lot of people, you might be asking yourself what is Bitcoin and how can I utilize it in my own life? Bitcoin was the first cryptocurrency ever created! Today there are over 5,000 different cryptocurrencies.
As Bitcoin continues to grow in popularity, it’s being increasingly accepted as payment for products and services. Buying and selling Bitcoins isn’t totally risk-free, however, this cryptocurrency is one of the safest options if you’re looking to utilize digital currency.
Table of Contents
What is Bitcoin and can you actually buy anything with it?
Bitcoin is a decentralized digital currency that, unlike traditional currency, has no government ties. Bitcoin is a form of digital money that’s built on blockchain technology.
You can buy, sell, and exchange Bitcoin directly without the middlemen that banks incorporate. You can even use peer-to-peer payment systems that allow you to buy or sell Bitcoin directly with other users.
Nowadays, you can spend your Bitcoin in a variety of places, both online and offline! All you have to do is create a digital wallet with BitPay. After you sign up for BitPay, you can start buying, spending, and managing your Bitcoin all in one place.
10 unsuspecting places you can spend your Bitcoin
So, what can you buy with Bitcoin? We’re glad you asked. This guide is going to cover the top 10 ways you can spend Bitcoin both online and in person. From donating to charity and buying household items, to spending the digital money on food and using it to pay for your travels, Bitcoin is a fascinating type of currency. However, only certain merchants accept Bitcoin as a form of currency.
1. Donate to charity
You can help make a difference in the world by using your Bitcoin to donate to charity. The BitGive foundation works with 26 nonprofit partners across 27 countries globally. BitGive has made an impact in over 49,000 people’s lives all thanks to charitable donations made using Bitcoin!
Love to travel? Well, now you can use your Bitcoin to pay for your travel endeavors! You can pay for hotels on Expedia, book your flights with CheapAir, and even pay to go on a Carnival cruise using Bitrefill to purchase Carnival cruise gift cards.
3. Real estate
While it is possible to buy real estate with Bitcoin, it’s not as widely accepted in this market. If you want to use your Bitcoin for real estate purchases, both parties must agree to the terms of the transaction. This means that the seller has to say yes and accept your Bitcoin before the purchase goes through. You’ll also have to convert your Bitcoin into USD using BitPay.
The biggest pro to using your Bitcoin for real estate is that once all the paperwork is signed, the transaction is usually completed within one day!
Despite what would seem like a natural cross-over between cryptocurrency and stocks, only about 100 companies allow you to buy stock with Bitcoin. On top of limited stock availability, the only company that helps you buy, sell, and hold stocks using Bitcoin is ProTrade. So, while it is possible to buy stock using Bitcoin, it’s a bit of a confusing and complicated process.
5. Gifts and gift cards
You can buy some pretty awesome Bitcoin gifts for the people you love. Retailers like Amazon and BestBuy actually accept Bitcoin directly, making it super easy to buy your loved ones gifts directly from their websites. You can also use eGifter to turn your Bitcoin into gift cards from hundreds of popular retailers like Target, Wayfair, and Adidas.
6. Video games
Embrace your inner gamer by using your Bitcoin to buy video games! Joltfun is an easy way you use your Bitcoin to buy video games online. You can choose from seven of the most popular gaming platforms on the market today, including PlayStation, Uplay, Xbox, and Rockstar Social Club.
7. Household items
Want to redecorate your home? With over a million products for sale, Overstock.com has you covered. And you guessed it! You can use your Bitcoin to buy household items directly from the Overstock website.
If you’re interested in buying a new car and you have made major profits from Bitcoin, you might be able to purchase a new car with Bitcoin! Not every dealership has jumped on the cryptocurrency bandwagon yet, but more and more dealerships around the U.S have started accepting crypto as a legitimate form of payment. Check with the dealership that interests you to see if they accept Bitcoin!
You might also have the option to buy luxury and unique old-timer classic cars from BitCars, which is the world’s first and as of now, the only car dealership platform that exclusively accepts Bitcoin as payment. Pretty cool, right?
A partnership between the cryptocurrency website, Gemini, and a startup called Flexa has now made it possible for you to buy your groceries at Whole Foods using Bitcoin and other cryptocurrencies. When you download the Spedn mobile app, you’ll be able to use services like Apple Pay to check out at Whole Foods. Spedn is a digital wallet that makes it easy for you to store your Bitcoin and check out with your phone. Spedn handles the transactions while Gemini handles the conversion of your crypto.
If you’re an art lover or your walls are looking a bit bare, you can use your Bitcoin to buy art. Singulart is an online art store that offers free worldwide shipping and returns. You can find art from both acclaimed and emerging artists. From paintings and drawings to sculptures and other works of art, there are so many pieces for sale through Singulart’s online store.
Maximize your investments with MoneyLion
It’s time to maximize your investments and get rewarded from your bank. When you open a MoneyLion investment account for only $1 per month, you get just that! It all comes with a fully-managed portfolio, no hidden fees, no minimum balance, and the ability to opt into auto-investing.
Take it a step further by joining our exclusive crypto-list! You’ll be able to easily buy, sell, and earn crypto 24/7 through the MoneyLion app. Whether you’re a newbie or a seasoned pro, we’re making crypto more accessible than ever.