If you have invested in some Bitcoins for your personal use and you would like to know more about how to go about using your Bitcoins to make daily transactions, then you have come to the right place. Read on for a concise and comprehensive beginner’s guide to making purchases with Bitcoins!
First things first
Before you begin buying goods and services using Bitcoin, the first thing you need to do is create a Bitcoin wallet where you can store your crypto wealth – similar to a PayPal account.
Bitcoin wallets can be quickly and simply set up, free of charge, using a specialized provider. Once your Bitcoins are safely ensconced in your wallet – it’s time to start shopping!
Pre-paid Bitcoin debit cards are also available now, which you can shop with in the same way as a regular debit card. The only difference is that when you use the card, you will be spending your Bitcoins, but the retailer will receive your payment in fiat money.
Paying with Bitcoin to buy goods
While the number of retailers that accepted Bitcoin was minuscule to begin with, more are joining their ranks every day, including big-name brands such as Whole Foods. So far, the list of items you can buy with your Bitcoins ranges from paint to luxurious watches, a range of electronics, and even cars!
Among the big brands and online retailers that accept Bitcoin as payment, you will find the likes of Microsoft, Rakuten, Shopify, and Etsy. In the case of online shopping platforms such as Etsy, however, you should bear in mind that it is not the platform itself that accepts Bitcoin, but individual sellers can choose to do so.
Using Bitcoin to pay for services
Did you know that you can use Bitcoin to pay for a variety of services now, as well as goods? Amazon’s video streaming platform, Twitch, was one of the first operators to introduce Bitcoin as a payment option, even though Amazon has always refused to offer cryptocurrency as a method of payment. This means you can pay for your streaming movies and shows using Bitcoin, as well as a number of other lesser-known digital currencies.
Another service you can use Bitcoin for is your mobile phone bill payments if you use AT&T as a provider. AT&T was the original mobile phone carrier to accept the usage of Bitcoin via the BitPay option.
These days, you can even pay for hotel bookings using Bitcoin, as prominent travel agencies such as Expedia now accept it as a payment option. Event tickets can also potentially be purchased with your cryptocurrency, depending on the vendor, and even some insurance companies are dipping their toes in the crypto waters.
Dining out with Bitcoin
Did you know that major fast food franchises such as Burger King and Subway accept crypto payments? If you wish, you can also now order takeaway meals from certain delivery services using Bitcoin. The number of services providing this option may be small at the moment, but it is likely to keep on expanding.
As you can see, there are plenty of options when it comes to spending your Bitcoins, with more likely to be added in the near future – watch this space!
