Day: 24 November 2021

What Can You Buy With Bitcoin?

What Can You Buy With Bitcoin?

Over the years, many organisations offering goods and services have added methods to accept bitcoin as a payment method. Bitcoin has seen a huge growth since its launch in 2009, reaching an all-time high in 2021, as values exceeded over 65,000 USD in February 2021. Currently at the time of writing (November 2021), the price stands at $57,077.

Whilst there is a growing popularity for bitcoin over the security and control over your own money, many businesses have begun accepting cryptocurrency to buy their products and services; and this number is only on the rise. Take a look below at a few ways that you can start spending your bitcoin.

The Popular Sectors Accepting Bitcoin

E-Commerce Platforms

Many e-commerce merchants offer bitcoin as a form of payment, with platforms such as Shopify having the functionality to use Coinbase, Dwolla, BitPay or GoCoin in the payment system. This means you can be buying and selling items online through your bitcoin wallet, making your purchases as you please. Another way you can buy with bitcoin is through gift cards for online retailers such as Nike, Amazon, Nintendo and much more.

Cars

There are a few car dealers which have begun accepting bitcoin and other cryptocurrencies to purchase vehicles. These include dealers such as GVE London selling luxury cars from manufacturers like Tesla, BMW, Audi, Mercades, and Ferraris. You can also use the platform CryptoExchange to make purchases using Bitcoin for car brands including Bentley, Hummer, Aston Martin and more. If you are looking for a new luxury car today, crypto investors can buy almost any they are on the hunt for.

Subscriptions

Giant organisations such as Microsoft are allowing their customers to pay with bitcoin for games, apps and other digital content on their Xbox store credits; which began back in 2014. You can also use gaming platforms such as Amazon-owned Twitch to pay for services and donations. 

Food Restaurants 

Burger King recently announced their bitcoin program ‘Burger King, With A Side Of Crypto’. This was a limited-time promo allowing customers to purchase food in their restaurants, however, outlets in Venezuela are now in partnership with Cryptobuyer to accept crypto as a form of payment on a daily basis. 

Starbucks also now lets their customers purchase items using bitcoin, since their partnership with digital asset manager Bakkt. This can be done on the Starbucks app through your bitcoin wallet. Another one of the first to accept cryptocurrencies includes Subway, at a select few establishments in the United States.

High-End Accessories

Luxury jewellery retailers such as Rolex have started to accept cryptocurrencies in exchange for their expensive watches. The business accepts bitcoin, bitcoin cash, ethereum, dai, litecoin and USD coin. 

Frank Muller even designed the ‘world’s first functional bitcoin watch’ which includes a laser-etched QR code for a public wallet address that can be used to deposit bitcoins and check your balance. 

Travelling

Major airlines are now accepting bitcoin to jet you away. Some include AirBaltic, LOT Polish Airlines, and Virgin Galactic. You can also find many travel agencies which allow you to pay for flights, hotels and cars using bitcoin such as BTCtrip, Destinia, Expedia and Cheapair.

Bitcoin Debit Cards

The list goes on for products and services that are now accepting cryptocurrencies, but you can also grab your own bitcoin debit card to load with crypto from credit card services such as Visa. When used in a store, the money is withdrawn in crypto and paid with fiat money. They can also be used to withdraw money from ATMs in whichever fiat money it supports. With opportunities on the rise people making investments in bitcoin are seeing more and more ways in which they can use this digital currency.

EP06 S2 – Bitcoin City, El Salvador & The war against inflation

El Salvador

El Salvador and president Nayib Bukele have certainly been leading the way in the adoption of Bitcoin, with a few major decisions over the past 6 months. The first was the decision to make Bitcoin a legal tender, followed by opening a huge Bitcoin mining centre that uses geothermal energy created by the Conchagua volcano.

These were two major breakthrough announcements although Nayib Bukele did not want to stop there and recently announced that a new Bitcoin City will be built starting in 2022 that is funded only by Cryptocurrency. The city will be in the shape of a coin and will be built on the base of the volcano and include both residential and commercial areas including schools, museums and restaurants.

Inflation

Did you know inflation has soared to the highest point in a decade? Inflation can be defined as the decline of purchasing power of a given currency over time and it has become a huge problem for consumers as huge volumes of printed money over the last 2 years have led to the devaluing of world currencies. This leaves you getting a lot less for your money than you did a few years ago.

There are ways people can counter inflation, including negotiating a salary increase and investing more in hard assets instead of storing savings in world currencies. In this episode, we cover everything you need to know about inflation, how it is calculated and ways you can hedge against it.

What we cover in this episode

– El Salvador’s decision to make Bitcoin a legal tender
– Their new Bitcoin mining center that uses energy from a volcano
– The announcement of the construction of a Bitcoin City in El Salvador
– What is inflation and why it is important
– How inflation is calculated
– ways people can counter the effects of inflation
– Is Bitcoin and other cryptocurrencies a good hedge against inflation?


Things we mention in the show

El Salvador President – Nayib Bukele: https://twitter.com/nayibbukele

El Salvador Wikipedia – https://en.wikipedia.org/wiki/El_Salvador

Ways to connect with Cryptopulse

Twitter: https://twitter.com/crypto_pulse
Instagram: https://www.instagram.com/crypto_pulse
LinkedIn: https://www.linkedin.com/company/cryptopulse
Website: http://www.cryptopulse.co.uk

Ways to connect with Kevin and Ben

Kevin Basham Twitter: https://twitter.com/KevinBasham
Ben Rees Twitter: https://twitter.com/bdrsquared

Thanks for listening and don’t forget to subscribe so you can be notified when we release a new episode.

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