Bitcoin and other cryptocurrency are making headlines all around the world today.
In the market, no other digital currency has such influence as Bitcoin. Adaption of Bitcoin and other prominent cryptocurrencies as payment methods took some serious time but once the acceptance was there, all the leading industries welcomed this change. So if a person is holding Bitcoin or Ethereum, that person can buy almost anything on the web. So here are some ways in which you can spend your crypto online:
1- IT services
In 2014, Microsoft (NASDAQ:MSFT) was credited as one of the early adopters of BTC. Then in 2018, the company turned its back on cryptocurrency but this scenario was only for a small period of time. A recognized company like Dell also started accepting the new payment option to enable their customers to buy new laptops and hardware. NewEgg.com, which is a trustworthy and renowned American retailer for electronics and computer hardware, also accepts payment transactions with Bitcoins. There are also several other platforms, like Namecheap.com, that enable the purchase of web hosting and domain names through various cryptocurrencies. Many VPN service providers like VikingVPN, TorGuard, AirVPN, ClockVPN are also accepting payment via BTC through digital wallets. It is also anticipated that the use of BTC will expand in the IT space.
2- Charity
Millions of dollars worldwide are spent regularly on charity and related aspects. CNBC reported that people from all over the world donated around 22 million dollars with Bitcoins in 2017.
Sean’s Outpost, an organization responsible for serving and providing food to homeless people of Florida, RNLI (Royal National Lifeboat Institution) and the Water Project are some other reputed and trustworthy charity organizations in which major contribution of donations are paid through cryptocurrency.
3- Gift cards
Buying gift cards with crypto has also become common.
So platforms like eGifter.com and Gyft.com allow people to buy different types of gift cards from 250+ different brands using various cryptocurrencies. iTunes, Uber, Target (NYSE:TGT), Lowe’s (NYSE:LOW), and Macy’s are some of the big names whose gift cards can be bought through crypto from several platforms. There even exists website that offer subscription to read content by accepting fees in crypto. Platforms line Nexxus Rewards serve as a market place and help buyers and sellers connect and transact among themselves using cryptocurrencies. To make it more interesting they have also introduced an incentive system so that they can promote the use of crypto.
4- Home decoration
In January 2014, Overstock.com (NASDAQ:OSTK) started accepting Bitcoin and showed early acceptance towards other cryptocurrencies. From buying laptops to toys, dining tables and bed sheets, Overstock.com enables people to buy almost anything related to home décor using prominent cryptocurrencies like, Monero, Dash, Litecoin. Ghostbed.com is another platform where people can buy mattresses for their homes using Bitcoin.
5- Cars
This is a very fascinating scenario that nobody ever imagined would come into existence, Autocoincars. It enables the purchase of an automobile through Bitcoins. World renowned Bonhams car auctions began accepting Bitcoins in 2018.
If we solely talk about cryptocurrencies like ETH and BTC, it doesn’t matter how high the amount is or how big the transaction is, it will only take few minutes to facilitate the payment if the funds are available. From a fancy Lamborghini to a fast Ferrari (NYSE:RACE), a person can buy all sorts of luxury cars through the use of crypto in today’s world.
6- Travel Industry
If you travel around the globe, you know the problems a person can face while carrying cash. But having Bitcoin ATM’s in countries like Canada, Thailand, Australia have proved to be a perfect solution to this problem. One can easily go to a Bitcoin Vends and convert their Bitcoin to cash. Even bookings flights and hotels can be done through Expedia (NASDAQ:EXPE).com by paying with cryptocurrency. Cheapair.com is also another travel booking portal that enables its users to use crypto.
7- Energy Industry
Today you can also buy renewable energy with cryptocurrency. WePower enables companies to have smart-energy contracts using cryptocurrency, and they can actually have the best prices offered to them against long-term commitments. This trading is enabled through an auction where the producers compete with each other and undercut the pricing, which will be bought through cryptocurrency.
8- Luxury Items
The White Company retail store in United Kingdom sells high-end goods, like art, watches and clothes. The White Company enables its users to buy all this stuff with Bitcoins and other crypto Currencies. Reeds.com is also one of the recognized platforms that enable its users to purchase jewelry and diamonds via BTC.
9- Food
Retail food outlets and food companies are also trying to keep pace with other industries. Big players like KFC are the latest to join this league, KFC Canada has recently started accepting Bitcoins as a payment method. Other big food outlets are most likely to follow.
10- Internet service and satellite television
Dish network, the American internet service company and satellite television service provider, announced it will accept Bitcoin as payments. It has a customer base of 14 million subscribers. The company stated hopes the move will allow it to acquire new customers.
Dish was the first company in the subscription based TV industry to accept crypto as payment.
In my opinion:
Looking at the fast adoption and popularity of Bitcoin, it can be anticipated that soon many big well-known companies will start accepting the use of Bitcoins in the near future. I have mention just some of the products and industries that use cryptocurrencies.