What Can You Buy With Cryptocurrencies?
The cryptocurrency market has become one of the leading financial markets in the world, thanks to its recent growth. The industry is worth more than $2 trillion, and with this level of growth comes the adoption. However, despite the growing popularity of cryptocurrencies, some people still don’t know what they can purchase with their crypto.
Cryptocurrencies are accepted in many sectors
A decade ago, Bitcoin was a relatively unknown financial asset. However, nowadays, it is known in every part of the world and is slowly going mainstream. With the mainstream adoption of cryptocurrencies increasing, it became easier to pay for goods and services using Bitcoin and other cryptos.
El Salvador became the first country to make Bitcoin a legal tender, and you can pay for anything with BTC. The United States, Canada, Spain, the United Kingdom, South Korea, and Singapore are amongst the countries that are also recording an increase in cryptocurrency transactions. Here are some of the ways to use your cryptocurrencies to pay for goods and services.
Technology and Ecommerce
One of the areas where you can easily spend your cryptocurrencies is technology and eCommerce. eCommerce companies are making it easier for their customers to pay for their products using BTC and other cryptocurrencies.
Overstock is one of the leading retailers that allows users to pay for their products with crypto, thanks to its partnership with Coinbase. NewEgg is an online retailer of technology products like computer hardware and consumer electronics, where you can use your bitcoins to pay for these products. Alza, the leading online retailer in the Czech Republic, and Japan’s Rakuten are other top retailers that accept cryptocurrencies.
If you wish to pay for your domain name in bitcoin, then Namecheap is the hosting company you should patronize. The Internet Archive also allows users to access web archives and accepts bitcoin donations.
AT&T is one of the first major mobile carriers globally to enable its users to pay for services using cryptocurrencies. The company partnered with BitPay to provide the crypto payment option to its subscribers.
Tech giant Microsoft allows its users to top up their Microsoft account using cryptocurrencies. The company suspended the service for a while but reactivated it as the adoption of BTC and other cryptos grew.
Dish, one of the leading TV service providers in the United States, allows users to pay for their cable subscription using Bitcoin, thanks to its partnership with Coinbase.
One of the areas where cryptocurrencies have gained adoption is the entertainment sector. It is becoming easier to pay for services using bitcoin and other cryptos in this industry. AMC, one of the leading cinema chains globally, now allows people to pay for movie tickets and other services with a few cryptos such as BTC, ETH, SHIB, and DOGE.
Amazon-owned leading game streaming platform Twitch is another place where you can pay for services using Bitcoin. The company briefly removed the service in March 2019 but has re-enabled it in June 2020.
Another area where cryptocurrency adoption is growing is the food sector. Several fast-food joints are now accepting Bitcoin and other cryptocurrencies as payment options for their products.
Burger King Venezuela partnered with Cryptobuyer to accept cryptocurrencies as a mode of payment. Their customers can pay in Bitcoin, Dash, Litecoin, Ethereum, and Tether. Pizza Hut is another giant pizza franchise that allows customers to pay for their food with Bitcoin.
KFC Canada is another major fast-food company that accepts Bitcoin as payment for its products. The company partnered with BitPay to process the payments. Denver-based Quiznos partnered with Bakkt to launch a pilot that allows customers to purchase food with bitcoin via the Bakkt app.
Cryptocurrency companies have penetrated the sports industry. Over the past few months, crypto companies such as FTX and Crypto.com have partnered with numerous sporting institutions to increase the awareness of cryptocurrencies.
The adoption goes beyond sports entities partnering with cryptocurrency companies. Some sporting institutions now accept cryptocurrency payments. The Dallas Mavericks accepts Bitcoin as a payment method for both game tickets and merchandise, and BitPay processes cryptocurrency payments via the team’s website.
We're proud to be the first business to accept the #crypto Dogecoin for payment using BitPay! 🙌
— Dallas Mavericks (@dallasmavs) March 4, 2021
The Miami Dolphins is another team that allows you to pay for game tickets using Bitcoin and Litecoin.
Portuguese-based football team Benfica is one of the first soccer institutions in Europe to accept Bitcoin for game tickets and merchandise.
Travel and Hospitality
The hospitality industry is one of the biggest promoters of cryptocurrencies. Richard Branson’s Virgin Mobile and Virgin Airlines allow you to pay for space travel with BTC. Norwegian Air Shuttle (Norwegian), Scandinavia’s largest airline and Europe’s third-largest budget airline, is another travel company that allows customers to pay for tickets with cryptocurrency.
CheapAir, one of the leading online travel agencies in the United States, partnered with Coinbase to allow its customers to pay for travel and hospitality services with Bitcoin. Travala and Bitcoin.Travel are two other leading online travel agency that permits their customers to pay for services using BTC and a few other cryptocurrencies.
Real Estate and Art
An increasing number of real estate firms accept cryptocurrencies as payment for their properties. Cryptocurrencies have also penetrated the art world. British auction house Christie’s now accepting Bitcoin and Ether for some of its paintings, both physical and digital.
Gift Cards and VPNs
The other sectors where cryptocurrencies have gained adoption are VPN and gift cards. Gyft allows users to buy and sell gift cards online for top retailers like Amazon, iTunes and Starbucks, and the company accepts Bitcoin as payment for its services.
ExpressVPN, CyberGhost, NordVPN, and PrivateVPN are some of the leading VPN service providers that allow users to pay for their services and upgrade their accounts using Bitcoin and a few other selected cryptocurrencies.
The use of cryptocurrencies to pay for goods and services is becoming increasingly popular. Businesses are beginning to accept cryptocurrency payments directly or through third-party processors like BitPay, a trend that seems set to continue through 2022.