Bitcoin is a digital or virtual currency that was originally created in 2009 and the first of its kind. Bitcoin has many benefits for its users and investors. It uses peer-to-peer blockchain technology to facilitate payments. Bitcoin’s network is a decentralized network that uses a system that rewards its miners with Bitcoin. Since Bitcoin’s inception, many people have bet on Bitcoin to become a feasible alternative to other centralized methods of payments like Visa, Mastercard, and PayPal. The idea behind its creation was to remove third party intermediaries and create a “trust-less” system that is purely based on mathematics.
For the moment, Bitcoin’s popularity has been growing as a long-term investment like gold or stocks and not so much as a payment method. This is most likely due to the scalability of Bitcoin’s blockchain technology. Currently, the Bitcoin network is only capable of handling a maximum of 7 transactions per second. This means that when the number of transactions on the network increases, it can sometimes slow things down for the people sending and receiving Bitcoin and increase their transaction fees. Another reason is that Bitcoin was able to prove itself as a cryptocurrency asset that can increase in value over time. This attracted many individual and institutional investors and got on the radar of many central banks as a potential replacement for gold.
Moreover, Bitcoin’s blockchain technology continues to improve and its future Lightening Network is very promising and can finally make its scalability a real alternative to the traditional payment methods. There is a variety of ways to purchase and sell Bitcoin and other cryptocurrencies. Growth BTM offers the most convenient way to buy and sell Bitcoin with cash through our Bitcoin ATMs. You might be interested in simply investing in this financial technology or using it to buy goods and services from tens of thousands of online and local businesses while maintaining your privacy. Read on to find out how vastly Bitcoin is becoming accepted by many businesses as a form of payment for their goods and services:
Bitcoin and cash
Microsoft – they allow their users to add money to their accounts using Bitcoin.
Newegg – one of the largest electronic online retail stores that accepts Bitcoin.
Overstock – the first large online retailer to accept and support bitcoin. They offer a long list of home products and more.
Home Depot – the largest hardware store chain in the United States. You can ultimately build an entire house with your Bitcoins.
Shopify – a platform that accepts Bitcoin and is similar to eBay that allows entrepreneurs to start their own eCommerce businesses.
Visa – you can connect your Bitcoin wallet with a BitPay Bitcoin debit card and purchase goods and services wherever Visa is accepted.
WordPress – a worldwide platform for developing and owning websites and blogs.
Dish Network – they accept Bitcoin in return for their satellite broadcast network services.
Reddit – a social platform, also known as the front page of the internet, that allows you to purchase premium features with Bitcoin.
Bloomberg – they accept Bitcoin for their financial newspaper subscription.
PlayStation Network and Xbox – you can purchase games and subscriptions with Bitcoin.
ExpressVPN – a popular and secure VPN service that accepts Bitcoin for VPN subscriptions.
King’s College – a New York City college that accepts Bitcoin for your education tuition fees.
Food and beverages
Starbucks – the most popular coffeehouse chain partnered up with Bakkt to develop applications for Starbucks customers to convert their cryptocurrencies into US dollars to buy their products. It is most likely a matter of time before they accept Bitcoin directly at their registers.
Whole Foods – a large grocery store owned by the giant online retailer, Amazon that partnered with the app “Spedn” to accept Bitcoin payments.
Subway Sandwiches – one of the largest submarine sandwich franchise that accepts Bitcoin.
Purse.io – you can buy from everyday online retailers, like Amazon, and get 5-15% off the advertised price when you pay with Bitcoin.
AT&T – the first cellular company to accept online phone payments with Bitcoin.
Virgin Mobile – allows you to pay you phone bill with Bitcoin.
CoinCards – you can use your Bitcoin to buy gift cards for hundreds of businesses like Amazon, Applebee’s, Kohl’s, Burger King, Bass Pro Shop, and Bed Bath and Beyond at no additional fees. It’s a great way to stay private while shopping online or in person.
Bitrefill – Very similar to CoinCards with close to a thousand gift card options that you can purchase with Bitcoin.
Expedia – one of the largest travel booking companies that accepts Bitcoin for certain types of bookings.
Cheapair – accepts Bitcoin for booking hotels, flights, and more.
Bitcoin Travel – an online travel booking agency with a list of businesses that accept Bitcoin as a form of payment.
Miami Dolphins – a professional American football team where patrons can purchase tickets and food with Bitcoin.
Dallas Mavericks – a Mark Cuban owned Basketball team that allows you to buy tickets and goods at their stadium using Bitcoin.
Big ticket items
AutoCoinCars –you to buy and sell cars, trucks, and SUV’s with Bitcoin.
Bitcoin-Realestate.com – you can buy, sell, and rent real estate worldwide with Bitcoin.
Money Metals – You can buy gold and other precious metals with Bitcoin.
GoldSilver – They allow you to buy traditional assets like metal bars, coins and jewelry with Bitcoin.
APMEX – You can buy any of their precious metals with Bitcoin using their payment processor BitPay.
JM Bullion – You can buy gold, silver, platinum, copper and palladium bullion with Bitcoin and get free shipping.
United Way – a non-profit organization that focuses its efforts on education, income and health around the world. They accept Bitcoin donations.
Red Cross – they accept Bitcoin donations to help with their various local and global humanitarian efforts.
Wikimedia Foundation – a non-profit organization that owns many charitable organizations like the largest free online encyclopedia, Wikipedia. They accept Bitcoin donations.
Bitcoin is transforming the world of finance in a variety of ways and is also becoming one of the most popular ways to donate to non-profit organizations. It is becoming easier to spend your Bitcoin online and in-person. You can spend your Bitcoin almost anywhere, either directly or through a Bitcoin Visa debit card or gift cards. Bitcoin adaption is increasing and it is paving the way for the future of Bitcoin as an alternative secure, private, and cheap payment method. Please let us know what you think below and if you would like to see other merchants on this list.
iCoin Mart is the easiest and safest way to turn cash into Bitcoin.