When it was first launched, Bitcoin was supposed to be an everyday transaction medium, allowing you to buy everything from a cup of coffee to a computer, and even high-value assets like real estate.
In its early days, bitcoin traded at $1 per bitcoin; it peaked at around $20,000 in 2017 before plunging to around $3,000 and then stabilizing around $8,000. At the time of writing, Bitcoin price is $20,193.97 USD with a 24-hour trading volume of $28,724,407,716 USD.
Bitcoin is still used and actively traded on cryptocurrency exchanges, which allow users to exchange “regular” money like books for bitcoins.
Smartphone wallets sometimes allow you to pay in physical stores by simply scanning a code displayed on a screen. A very small number of stores, restaurants or hotels accept bitcoin payments, but the number is steadily increasing.
What can you buy with bitcoin?
Cryptocurrencies are becoming more and more popular, that’s a fact, but many beginners may still wonder: what, exactly, can you do with these currencies? While some people are quite content to view cryptos as an investment, such as buying bitcoins in the hope that their value will increase and make you money, cryptos are quite usable currencies.
It is possible to purchase a wide variety of products from online shopping websites using cryptocurrencies. Here are some examples:
Technology and online trading websites:
Several companies that sell technology products accept cryptocurrencies on their websites, such as newegg.com, AT&T and Microsoft. Overstock, an online shopping platform, was among the first sites to accept Bitcoin. Shopify, Rakuten and Home Depot also accept it.
— Bitcoin Magazine (@BitcoinMagazine) September 8, 2021
Some luxury retailers accept cryptocurrencies as a payment method. For example, online luxury retailer Bitdials allows you to use Bitcoin to purchase Rolex, Patek Philippe as well as other high-end watches.
Some car dealerships – ranging from mass-market brands to high-end luxury dealerships – already accept cryptocurrencies as a payment method.
Real Estate :
The first two properties, worth a total of €4.1 million, were sold in cryptocurrencies – Cardano, specifically – in Portugal by Prometheus International. This even represents the most expensive real estate purchase in the country since the blockchain revolution.
Prometheus has developed new protocols that allow for the integration of this new market into its customer verification obligations to be able to complete the transaction in euros before registration.
In April 2021, Swiss insurer AXA announced that it had begun accepting Bitcoin as a payment method for all of its insurance lines, with the exception of life insurance (due to regulatory issues). Premier Shield Insurance, which sells home and auto insurance strategies in the United States, also accepts Bitcoin for premium payments.
If you want to spend cryptocurrencies at a retailer that doesn’t accept them directly, you can use a cryptocurrency debit card, such as BitPay in the United States.
In theory, you can buy anything. In El Salvador, as in France, the law requires any actor selling goods or services to accept all means of payment. Merchants must therefore have the necessary equipment to allow payments in bitcoin.