Where Can You Spend Bitcoin?
A question people who don’t hold any Bitcoin ‘nocoiners’ regularly ask is where can you spend Bitcoin?
Bitcoin is well-known as digital gold, and to be fair, that is enough for the value to rocket from its relatively low market valuation of just over $1 trillion.
Bitcoin is also the only truly decentralized blockchain, and making thousands, or millions of transactions per second on the main Bitcoin blockchain isn’t possible, yet.
But Bitcoin is programmable money, and companies are plugging into the Bitcoin network and making it possible for people to spend Bitcoin with them.
But mainstream wants to know: Can I spend or buy Bitcoin at Walmart? Can I spend Bitcoin at the world’s biggest online retailer Amazon? And how about my daily groceries and coffee? Who accepts Bitcoin? Can I spend Bitcoin anonymously?
There are many places to buy Bitcoin, but when it comes to spending it, the answer is nuanced. It all depends on the retailer and the way you actually want to spend your Bitcoin, but for a few examples, read on…
Many Shops Accept BTC As Payment
First and foremost, we a Bitcoin Maximalist accept Bitcoin in our Bitcoin Store. We sell unique Bitcoin t-shirts, hoodies, and other apparel. We even have a children’s department, so if your offspring is an avid Bitcoiner, allow them to show their colors with our extensive range of unique designs.
Now with our advertisement over let’s look into a few other places where you can spend Bitcoin.
The largest e-commerce site that accepts Bitcoin is Overstock.com. Launched in 1999, Overstock has over 1 million products for sale, ranging from home furniture to tech products, and was one of the first retailers to start accepting Bitcoin.
The world’s biggest retailers Amazon and Walmart don’t allow you to spend Bitcoin there, yet, but that will happen. However, you can spend Bitcoin at eGifter or Gyft, both of which sell gift cards for the likes of Amazon, Walmart and Target.
Starbucks allows you to spend Bitcoin in the US. With the world’s biggest coffee shop, you can buy your latte through Bakkt App, a payments application that allows you to pay for your coffee through the Starbucks app.
Bakkt App also allows you to spend Bitcoin at any retailer that accepts Apple Pay or Google PayTM, online or in stores.
PayPal recently moved into the Bitcoin space and for now only allows its US users to buy and sell Bitcoin. However, the service is being rolled out globally, and the payments giant says it will start accepting Bitcoin for its 26 million merchants sometime this year.
Go Watch your Favorite Team With Bitcoin
Not many people are going to sporting events, but with the pandemic seemingly under control and vaccines being rolled out, sporting events will soon be at full capacity again.
You can spend Bitcoin at some arenas. In 2014, the Sacramento Kings became the first sports team in the world to accept Bitcoin as a means of payment.
Other well-known US teams that accept Bitcoin are Mark Cuban’s Dallas Mavericks. The Shark Tank star recently converted to a Bitcoiner, but ironically the Mavericks have accepted Bitcoin for a while now.
In recent news, Oakland Athletics baseball team started selling their luxury suite season tickets at a price of 1 Bitcoin. At today’s price that’s around $59,000, but with the trend the Bitcoin price is going, that could turn out to be the most expensive suites in history.
In the Premier League, no team accepts Bitcoin as payment yet, but cryptocurrency exchange eToro has partnered with 7 Premier League clubs.
eToro is trialling Bitcoin transactions with the clubs, so it shouldn’t be too long before you can spend your Bitcoin to go and see your favorite football team on a Saturday afternoon.
Travel Firms Accepting Bitcoin
As we already know, anywhere that accepts Apple Pay and Google PayTM means you can spend Bitcoin there, but some travel firms allow you to spend Bitcoin direct with them, too.
There’s also a dedicated Bitcoin travel site, called bitcoin.travel. It’s similar to Expedia in that it compares flights and hotels across several different platforms, but the best thing is every company the website connects with accepts Bitcoin as payment.
If travelling around the world isn’t your thing and you fancy a flight into space, then you can spend your Bitcoin on a flight into space.
Billionaire entrepreneur Sir Richard Branson’s Virgin Galactic accepts Bitcoin as a way to pay for its 90 minute space flights.
The space trip will set you back $250k, or should that be 4.3 BTC, so isn’t the best way to spend your Bitcoin. Or is it? Who wouldn’t love to orbit earth!
Well, by the time the space program launches in 2022, the 90-minute jaunt into space might be a fair bit cheaper, and I don’t mean in dollar terms.
You Will Be Able To Spend Your Bitcoin Everywhere
More businesses are adding Bitcoin as a means of payment, but we’re still in the early stages of this financial revolution.
The internet changed pretty much everything in the 1990s and 2000s, and Bitcoin will do the same with the financial industry.
PayPal is onboard, and there are more new retailers allowing you to spend your Bitcoin every month. I would even expect retailers to offer discount for anyone spending Bitcoin in the future, because using Bitcoin dissolves expensive Visa charges.
It’s early days, no matter what people think of a near $60,000 price tag, and as time goes by I expect you will be able to spend Bitcoin everywhere.