Bitcoin is a cryptocurrency that is not a legal tender backed by any banks or governments. The virtual currency is tracked in a ledger system known as a blockchain.
Although it’s a new currency that has only been around since 2009, bitcoin is gaining in popularity and is becoming an accepted form of payment all around the world. Investing in bitcoin provides you with an alternate form of payment. You can buy a wide range of items and even use bitcoin to be philanthropic.
Bitcoin is not just the currency of the rich and famous. Small businesses have been cashing in with sales paid for with bitcoin.
Before we get into what you can buy, let’s cover how you can spend your BTC.
Your paper wallet contains an address and a key that is unique to your bitcoin account.
It’s a public address for your bitcoin balance. If you are using an exchange service such as Coinbase, don’t leave any of the funds in the paper wallet because it leaves it open for attack. Other virtual wallet options include Mycelium or Bread Wallet.
You must sweep the private key into the software wallet. “Sweeping” is bitcoin terminology for importing the account into the software wallet.
If you are sending a payment, you will send the bitcoins to the recipient’s address. You can also use your virtual currency in your paper wallet to spend your bitcoin by scanning a QR code.
The private and public key pair is a sequence of letters and numbers that are specific to your bitcoin stash. Protect those keys because they can be stolen and used to spend your bitcoin.
If you invest in bitcoin, you can decide to purchase your new vehicle for travel. You can buy a private jet or a brand new car, for example. If you don’t want to buy your own plane, you can purchase tickets for flights to many tourist destinations around the world.
Some car dealers accept BTC as payment and then immediately convert it to cash.
Buying cars with bitcoin is possible from coast to coast in the United States. In Atlanta, you can buy a new Nissan car using bitcoin. Even a luxury car dealer in California has opted to accept bitcoin payments for Lamborghinis.
If you are looking for something economical to buy with bitcoin, you can even buy a Kia. If you don’t want to leave the comfort of home for car shopping, you can browse the online dealership BitCars or AutoCoinCars.
Aviatrade is on board for accepting bitcoin as payment for its private jets. Gulfstream G650ER is the flagship aircraft that is taking off into bitcoin sales. BitPay has enabled people to charter jets or purchase their own when the typical bank is closed.
If you aren’t in the market for traveling or a new vehicle, you might be interested in buying property with bitcoin.
Bithome is just one online marketplace featuring properties that can be bought with bitcoin. Cryptoroof is another website filled with real estate listings that can be purchased with BTC. Both websites provide real estate options for buyers and sellers.
Options include homes in Houston, luxury apartments in Cyprus, or an artist’s residence in Paris. You can choose a family home in a Chicago suburb or a tiny home on wheels.
If you aren’t ready to invest in a home or prefer to rent your home instead, CryptoRoof provides rental listings that accept bitcoin. Miami, Florida, is one of the areas that you can reside in and pay your rent with bitcoin. A two-bedroom two-bath apartment is only 0.053 BTC per month or $2,250 in United States currency (at the time of writing).
Buying property with bitcoin reduces the typical length of the closing process. Without all of the banking red-tape, buying with bitcoin saves time and paperwork. Next time you relocate, you might want to consider buying with bitcoin.
Basketball fans can purchase tickets to NBA games in Dallas using bitcoin. Mark Cuban’s Dallas Mavericks teamed up with BitPay to accept bitcoin as payment for merchandise and tickets.
If you prefer baseball, you can pick up tickets to the Oakland A’s games using bitcoin also. The A’s even accepted bitcoin as payment for a luxury box. It is likely that other organizations will follow suit in accepting bitcoin.
Although it may seem a stretch to link the art world to the world of technology, bitcoin has been able to bridge the gap between the two groups.
Tech-savvy bitcoin investors are able to purchase artwork paid in bitcoin. Art and technology are vast in the international trade markets. Bitcoin investors also want to invest in the fine arts, so it has become a natural pairing.
Paris-based Singulart is currently accepting bitcoin. The site’s first bitcoin transaction was the sale of “The King of Street Art” painted by Vincent Bardou. Buying art through the website is the same as shopping at a major online retailer for other items.
However, the payment options include bitcoin, and if you choose to pay with bitcoin, you are given a 5% discount.
Some musical instruments can be purchased with BTC.
Individuals and music stores are on the bandwagon for accepting bitcoin. If you are in the market for an expensive musical instrument, a bitcoin transaction might be the best way to pay.
A rare “golden period” Stradivarius violin was purchased with bitcoin in 2014. The multi-million dollar bitcoin contract was created by the LeoGroup.
If you are planning a trip, you can pay your way and buy plane tickets with bitcoin.
The widely known travel booking website, Expedia, allows travelers to pay with bitcoin. Some private travel agencies accept bitcoin payments also. Airlines, buses, hotels, airports, and tourist destinations have also started accepting BTC.
Bitcoin is a safer alternative to using credit or debit cards and is also an alternative to traveler’s checks. Virtual currency provides safeguards for travelers so that you don’t have to worry about theft of the cash that you have on hand.
If you are traveling internationally, BTC doesn’t have to be converted from one currency to another. You can easily learn how to spend the bitcoin paper wallet and avoid foreign transaction fees.
International travelers don’t have to worry about identity theft or losing their physical credit card while on a trip. You can also pay for more expensive purchases without having to carry the extra cash with you.
However, there are no special travel perks for paying with bitcoin that are traditionally offered with major credit cards.
Travala is a website that provides access to hotel accommodations that are bitcoin payment friendly. You can search by date and location and the number of people staying per room.
The Kessler Collection is a luxury hotel group that also accepts Bitcoin as payment using the technology platform BitPay. In Nashville, the Bobby Hotel was among the first independent hotels to accept payment through BitPay.
BitPay payments require a simple scan of a QR code during checkout.
Traditionally, web services and gift cards required payment from major credit cards, but the bitcoin wallet has changed that.
You can pay for storage space for your website with bitcoin. You can even give gift cards to your family and friends by paying with bitcoin. Choosing to buy a visa gift card online with bitcoin is another way to spend the virtual currency in your wallet.
You can even convert your bitcoin to Blizzard gift cards. Blizzard Entertainment created its own digital currency for World of Warcraft, and while it does not directly accept bitcoin, you can buy Blizzard gift cards with bitcoin to convert into tradable currency for the games.
Nowadays, bitcoin can be spent in many of the same places that traditional government-backed currencies can be spent. Spending bitcoin digitally affords many of the same opportunities as credit cards on web-based platforms.