Products You Can Buy with Crypto
Although the majority of cryptocurrencies are held and traded on exchanges, there are many ways to use cryptocurrency for common purchases. One popular way to use your cryptocurrency is to buy a domain for your website. Domains and website platforms have been available with cryptocurrency for a while. But more recently major service providers like Amazon, Mastercard and PayPal have all started to accept cryptocurrencies.
This article goes through many ways to use your cryptocurrency, from buying a website domain to purchasing a mattress.
Domains4Bitcoins.com is one such domain service. They offer fair rates, which includes customer services. Other products include free privacy detection and DNS management. You also do not have to settle on a domain name today. If you change your mind, Domains4Bitcoins.com will help you do that. Prices for services are listed in fiat currency, and BTC conversion is done at the time of checkout.
With Unstoppable Domains, for a one-time fee, you can purchase a decentralized blockchain domain. There is a fee for the blockchain transaction costs as well.
Hostinger is another option that has fast service and 24/7 support.
Hostwinds gives you unlimited storage and bandwidth. You can also choose between using either a U.S. or European-based data center for your operations and storage.
As indicated by the name, Namecheap offers low-priced domain names for reliable hosting services and free domain protection.
Overstock.com has accepted BTC since 2016. During the first three quarters of 2020, the site had an average of $30,000 to $50,000 a week which came from cryptocurrency alone. It is important to note that refunds will occur based on the dollar amount and not the original price of BTC. That means that you cannot hedge your Bitcoin by returning the mattress you bought last year with BTC that was worth 200% less.
Mastercard and PayPal
In June of 2020, Mastercard announced that it would partner with Bitpay to create a crypto-based debit card. This means that when you have a wallet with cryptocurrency exchange Bitpay, you can connect it to a Mastercard debit. This will allow you to use your cryptocurrency to make purchases anywhere that Mastercard is accepted. That means that more than 3000 merchants and services worldwide can be accessed with cryptocurrency.
Similarly, in October of 2020, PayPal announced that customers in the U.S. can now buy, sell and hold cryptocurrency on the PayPal platform. In 2021 sometime, users will be able to use their cryptocurrency to pay for purchases as well.
More Ways to Pay with Crypto
- Amazon: If you register with the digital wallet Purse, you can make purchases with BTC. And if you want to buy with Bitcoin, you can even bid on a lower purchase price for your items.
- Mavericks Tickets: Mark Cuban, the owner of the Dallas Mavericks and former crypto-skeptic, has been accepting Bitcoin and Ethereum for basketball tickets.
- Burger King in Arnhem, Netherlands: Since 2016, Burger King in Arnhem has been accepting cryptocurrency. And when you buy with Bitcoin, you get a free Whopper with the purchase of another Whopper.
- GhostBed: A major online mattress retailer.
- Bic Camera: Japan’s largest electronic retailer. (Japan is generally a major proponent of cryptocurrencies and a location where you can make many purchases with cryptocurrencies. Currently, several Japanese banks are working on building their own cryptocurrencies as well.)
- Tesla: Elon Musk just announced that Tesla will now accept Bitcoin. This comes after Musk’s $1.5 billion purchase of BTC.
- Travel Booking: Both Expedia and CheapAir.com accept Bitcoin.
- Bitcoin Coffee: In Prague, the capital of the Czech Republic, Bitcoin Coffee is a café that only takes cryptocurrency. This is just one example of a café that accepts crypto, but crypto as a method of payment has become a more common practice throughout Eastern European cafes and pubs.
- Central Texas Gun Works: This firearms warehouse has been taking Bitcoin since 2014, in-store and online.
- Real Estate: Not only can you make private purchases with Bitcoin, but there are now many brokerage services that will accept Bitcoin on your behalf. Brokerages that accept Bitcoin function like an exchange, as the seller does not necessarily need to accept Bitcoin.
We will likely see more and more retailers begin to accept cryptocurrencies, particularly strong currencies such as Bitcoin and Ethereum. With major banks and financial services like PayPal and Mastercard accepting cryptocurrency, making every day purchases with cryptocurrencies is only going to get easier.